(of a person or organization) Declared in law unable to pay outstanding debts,
(of a person or organization) Declared in law unable to pay outstanding debts
the company was declared bankrupt
his father went bankrupt and the family had to sell their home
Impoverished or depleted
a bankrupt country with no natural resources
Completely lacking in a particular quality or value
their cause is morally bankrupt
Reduce (a person or organization) to bankruptcy
the strike nearly bankrupted the union
A person judged by a court to be insolvent, whose property is taken and disposed of for the benefit of creditors
financially ruined; "a bankrupt company"; "the company went belly-up"
reduce to bankruptcy; "My daughter's fancy wedding is going to break me!"; "The slump in the financial markets smashed him"
someone who has insufficient assets to cover their debts
Bankruptcy is simply the inability of an individual to secure any more money from a bank. It is a device that informs banks that an individual or organization will not be able to pay monies owed if any more money is lent. ...
To force into bankruptcy; having been legally declared insolvent
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.
The condition or state of a person (individual, partnership, corporation, etc.) who is unable to repay it’s debts as they are, or become, due.
A person who is insolvent; one whose total wealth is legally declared insufficient to pay his/her debts.
One who is adjudicated a bankrupt by a court having proper jurisdiction. The bankruptcy may be voluntary (petitioned by the bankrupt) or involuntary (petitioned by the creditors of the bankrupt).
When an individual has reached the point of being totally incapable of repaying their outstanding debts
A noun or adjective. Noun - a person or business which has made an assignment in bankruptcy or has been petitioned into bankruptcy. Adjective - owing more money than you have assets or income to repay.
This occurs when a debtor is unable to pay their debts. The lender(s) or creditors move to secure what monies they can from any existing assets (property) held by that person. All property is then administered by the official receiver.
If an individual or unincorporated company has greater liabilities than it has assets, the person or business can petition for, or be declared by its creditors, bankrupt. In the case of a limited company or corporation in the same position, the term used is insolvent .
The quality of a person, corporation or other legal entity who, being unable to meet his or her financial obligations, must relinquish his or her property to a receiver or trustee for administration and distribution to creditor.
Legal status of a person/corporation who/which is unable to pay its debts as they become due and who/which has made a transfer of property or of a right or interest in property to a trustee for the benefit of creditors.
Person or business incapable of paying outstanding debts and whose affairs have been ordered by a court into the control of a receiver. ...
Denotes partial collapse in business, and weakening of the brain faculties. A warning to leave speculations alone.
the entity that files a bankruptcy; the debtor; the insolvent entity. This is a non-technical term and is not used in the Bankruptcy Code.
A natural person or corporation who has made a voluntary assignment in bankruptcy or against whom a receiving order has been made.
A person, firm, or corporation that has been declared to have no money by the court and does not have to pay back any of their debt after all their assets (belongings) are taken away.
The legal status of an individual or company that is unable to pay its creditors and whose assets are therefore administered for its creditors by a Trustee in Bankruptcy.
When a person is unable to pay their debts, a court may order that their financial affairs be managed by a trustee to call in all assets and pay debts from available funds. Also referred to as insolvent
Insolvent and involved in a proceeding to become bankrupt or against whom a creditor has started a proceeding to put them into bankruptcy. Can be used to refer to apply to the person in this position.
When a company's liabilities exceed their assets to such an extent they seek protection under the law from creditors.
The term for making sure the opposing team doesn't score, does not get "cash" (as listed below in section: C).