Business Dictionary :

Bankrupt, Bankruptcy

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Bankrupt : adjective & noun : (person or company) which has been declared by a court not to be capable of paying its debts and whose affairs are put into the hands of a receiver

• He was adjudicated or declared bankrupt.

• A bankrupt property developer

• He went bankrupt after two years in business.

Certificated Bankrupt : bankrupt who has been discharged from bankruptcy with a certificate to show he was not at fault

Discharged Bankrupt : person who has been released from being bankrupt because he has paid his debts

Undischarged Bankrupt : person who has been declared bankrupt and has not been released from that state

Bankrupt : verb : to make someone become bankrupt

• The recession bankrupted my father.

Bankruptcy : noun : state of being bankrupt

• The recession has caused thousands of bankruptcies.

Adjudication of Bankruptcy or Declaration of Bankruptcy : legal order making someone bankrupt : discharge in bankruptcy being released from bankruptcy after paying debts

To file a petition in bankruptcy : to apply officially to be made bankrupt or to ask officially for someone else to be made bankrupt

Related Links :

Bank : NOUN
Bank Loan
Bank Advance
Bank Borrowing
Bank Deposits
Central Bank
Savings Bank
Merchant Bank
The High Street Banks
Data Bank
Bank : VERB
Bank Account
Bank Balance
Bank Bill
Bank Book
Bank Charges
Bank Clerk
Bank Draft
Banker : NOUN : 1
Merchant Banker
Banker's Bill
Banker : NOUN : 2
Banker's Order
Banker Giro
Banker Holiday
Banking Account
A Banking Crisis
Banking Hours
Bank Manager
Bank Note (or) Banknote
Bank On
Bank Roll
Bank Statement

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