Bankrupt

adj. lacking, deficient; insolvent, unable to pay one's debts

n. one who was unable to repay debts and whose property has been divided among his creditors

v. make bankrupt, ruin financially; go bankrupt, go broke

Bankruptcy is a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the bankrupt individual or organization).
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Noun
1. someone who has insufficient assets to cover their debts
(synonym) insolvent
(hypernym) failure, loser, nonstarter, unsuccessful person
Verb
1. reduce to bankruptcy; "My daughter's fancy wedding is going to break me!"; "The slump in the financial markets smashed him"
(synonym) ruin, break, smash
(hypernym) impoverish
(derivation) bankruptcy, failure
Adjective
1. financially ruined; "a bankrupt company"; "the company went belly-up"
(synonym) belly-up(p)
(similar) insolvent

(v. t.)
To make bankrupt; to bring financial ruin upon; to impoverish.
  

(n.)
A trader who secretes himself, or does certain other acts tending to defraud his creditors.
  

(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 person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities.
  

(a.)
Relating to bankrupts and bankruptcy.
  

(a.)
Destitute of, or wholly wanting (something once possessed, or something one should possess).
  

(a.)
Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury.
  

(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.
  

a person, firm, or corporation that has been declared insolvent through a court proceeding and is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.