bankruptcy

Reading level: hard

Estimated CEFR level: C2 — Proficiency

Estimated from word frequency; not an official CEFR classification.

Definition

noun a state of complete lack of some abstract property
noun inability to discharge all your debts as they come due
noun a legal process intended to insure equality among the creditors of a corporation declared to be insolvent

From bankrupt + -cy, replacing earlier bankruptship.

My lodger sends me into bankruptcy. — Les Misérables, Victor Hugo
Bankruptcies are most frequent in the most hazardous trades. — An Inquiry into the Nature and Causes of the Wealth of Nations, Adam Smith
If she only knew the bankruptcy of my box! — The Youngest Girl in the Fifth: A School Story, Angela Brazil

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