bankruptcy

Definition

A legally declared or recognized condition of insolvency of a person or organization.

Etymology

From bankrupt + -cy, replacing earlier bankruptship.

Example Sentences

• "The company ended up filing for bankruptcy."
• "He declared that these drastic steps would undoubtedly inconvenience a good many people, but the alternative was bankruptcy of the Ulster Transport Authority and the breakdown of public transport services."
• "[T]he form of and redress for defamation are, for the most part, gendered. Imputations of bankruptcy, for example, which could have damaged a merchant and thus were actionable for a man, would probably have had little effect if directed toward a woman. In contrast, allegations of whoredom—which, while occasionally leveled at men, were not usually thought to injure male reputations—were overwhelmingly cited by women in the slander suits they brought."

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