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    bankruptcy - Dictionary definition and meaning for word bankruptcy

    (noun) a state of complete lack of some abstract property
    Example Sentence
    • spiritual bankruptcy
    • moral bankruptcy
    • intellectual bankruptcy
    (noun) inability to discharge all your debts as they come due
    Synonyms : failure
    Example Sentence
    • the company had to declare bankruptcy
    • fraudulent loans led to the failure of many banks
    (noun) a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
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