bankruptcy
English → English
noun//ˈbæŋkrʌptsi//
(legal) Bankruptcy: the legal status of a person or entity that cannot repay the debts it owes to creditors
The airline filed for Chapter 11 bankruptcy to reorganize its finances and avoid closing down entirely.
(English) The airline filed for Chapter 11 bankruptcy to reorganize its finances and avoid closing down entirely.
Years of uncontrolled spending and high-interest loans eventually led the small business to bankruptcy.
(English) Years of uncontrolled spending and high-interest loans eventually led the small business to bankruptcy.
Entry ID: en:en:bankruptcy · Source: refined · Type: vocabulary