bankrupt
What does "bankrupt" mean in English?
financially insolventThe company declared bankruptcy after years of losses.
The company officially announced it could no longer pay its debts.
How to use "bankrupt" correctly: definitions and examples in English?
Legally declared unable to pay debts; financially insolvent
The court ruled that the firm was bankrupt and ordered liquidation.
A legal decision was made that the company could not repay its debts, leading to its assets being sold to pay creditors.
In legal contexts, bankruptcy is a formal process governed by laws to resolve insolvency.
Having exhausted all financial resources; completely broke
After the divorce, he was left bankrupt and had to start over.
He had no money left after the divorce and had to rebuild his life.
In informal usage, 'bankrupt' can describe extreme financial hardship without legal proceedings.
Depleted of resources or ideas; metaphorically exhausted
The team's creativity was bankrupt after months of overwork.
The team had no new ideas left due to burnout.
Used metaphorically to describe a lack of resources, ideas, or vitality.
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Pro Tip
Legal vs. Informal Use
In legal contexts, 'bankrupt' refers to a formal insolvency process, while informally, it can describe extreme financial hardship.
Gold Rule
Formal Context
Use 'bankrupt' in legal or business contexts to describe financial insolvency.
Word Origin
From Italian 'banca rotta' (broken bench), referring to a banker's bench broken by creditors to signify insolvency.
Usage Notes
In finance, 'bankrupt' is a legal term, while in everyday language, it can describe extreme financial hardship without legal proceedings.