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bankruptcy

noun
 
 
/ˈbæŋ.krəpt.si/ legal

Definition

[C or U] a situation in which a business or a person becomes bankrupt: The company was forced into bankruptcy. The toll of bankruptcies was rising daily.Poverty and poorStarting, succeeding and failing in business [U] the fact of good qualities being completely absent: moral bankruptcyLacking thingsScarce, inadequate and not enoughEssential or necessary
(Definition of bankruptcy noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

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