Bankrupt

A corporation, firm or individual is described as being 'bankrupt' when they are relieved from paying all debts once their assets have been surrendered to an appointed third party. Bankruptcy proceedings are managed via the court system, with the appointed third party designated by the court in charge of the proceedings, in accordance with the Inso…...

bankrupt

[adj] - financially ruined 2. [n] - someone who has insufficient assets to cover their debts 3. [v] - reduce to bankruptcy
Found on http://www.webdictionary.co.uk/definition.php?query=bankrupt

Bankrupt

Someone against whom a bankruptcy order has been made and who has not been discharged from bankruptcy.
Found on http://www.encyclo.co.uk/local/20407

Bankrupt

When a person or company has its assets assigned to a court-appointed trustee who in turn redistributes the assets to the persons or companies [creditors].
Found on http://www.encyclo.co.uk/local/20464

Bankrupt

Someone against whom a bankruptcy order has been made and who has not been discharged from bankruptcy.
Found on http://www.insolvencyhelpline.co.uk/info-centre/glossary.php

Bankrupt

A debtor that is judged legally insolvent. A person can become bankrupt upon voluntary petition or one invoked by their creditors. The debtor's remaining property is then administered for the creditors or is distributed among them.
Found on http://www.encyclo.co.uk/local/20546

Bankrupt

A bankrupt is an individual against whom a bankruptcy order has been made by the court. The order shows that the bankrupt is unable to pay his/her debts and deprives him/her of property, which is then realised for distribution amongst the creditors of the bankrupt.
Found on http://www.encyclo.co.uk/local/20547

bankrupt

A condition where a person or company that cannot meet their financial commitments are declared insolvent by a court. After surrendering all their assets to a court-appointed trustee, they are no longer expected to pay their debts
Found on http://www.aviva.com/glossary/

Bankrupt

Insolvent - unable to pay creditors and having all goods/effects administered by a liquidator or trustee and sold for the benefit of those creditors; as a result of an order under the Insolvency Act 1986
Found on http://www.hmcourts-service.gov.uk/infoabout/glossary/legal.htm

Bankrupt

Bank'rupt noun [ French banqueroute , from Italian bancarotta bankruptcy; banca bank (fr. Old High German banch , German bank , bench) + rotta broken, from Latin ruptus , past participle of rumpere to break. At Florence, it is said, the bankrup...
Found on http://www.encyclo.co.uk/webster/B/12

Bankrupt

Bank'rupt adjective 1. Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant. 2. Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury. 3.
Found on http://www.encyclo.co.uk/webster/B/12

Bankrupt

Bank'rupt transitive verb [ imperfect & past participle Bankrupted ; present participle & verbal noun Bankrupting .] To make bankrupt; to bring financial ruin upon; to impoverish.
Found on http://www.encyclo.co.uk/webster/B/12

bankrupt

belly-up(p) adjective financially ruined; `a bankrupt company`; `the company went belly-up`
Found on http://wordnetweb.princeton.edu/perl/webwn?s=bankrupt

Bankrupt

• (a.) Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one`s debts; as, a bankrupt merchant. • (n.) A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person. • (n.) A trader who secretes himself, or ...
Found on http://thinkexist.com/dictionary/meaning/bankrupt/

bankrupt

bankrupt Originally, a banker became bankrupt because his bench was broken when he lacked the necessary funds to continue with his money business as an early 'banker'.
Found on http://www.wordinfo.info/words/index/info/view_unit/3672/

bankrupt

bankrupt, bankrupted 1. In law: A debtor that, upon voluntary petition or one invoked by the debtor's creditors, is judged legally insolvent. The debtor's remaining property is then administered for the creditors or is distributed among them. 2. Any insolvent debtor; a person unable to satisfy any just claims made upon him or her. 3. A person who ...
Found on http://www.wordinfo.info/words/index/info/view_unit/1875/

Bankrupt

A person who has done, or suffered some act to be done, which is by law declared an act of bankruptcy; in such case he may be declared a bankrupt.
Found on http://www.lectlaw.com/def/b011.htm

Bankrupt

A person, firm, or corporation that, through a court proceeding, is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.
Found on http://www.encyclo.co.uk/local/21398

bankrupt

A person, firm, or corporation that, through a court proceeding, is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.
Found on http://www.eloan.com/s/show/glossary

Bankrupt

If an individual or unincorporated company has greater liabilities than it has assets, the person or
Found on http://www.encyclo.co.uk/local/22398
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