bankruptcy in WordNet English dictionary

1. a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
   bankruptcy 
   
2. inability to discharge all your debts as they come due
   "the company had to declare bankruptcy"; "fraudulent loans led to the failure of many banks"
   bankruptcy  failure 
   
3. a state of complete lack of some abstract property
   "spiritual bankruptcy"; "moral bankruptcy"; "intellectual bankruptcy"
   bankruptcy