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English definition of “bankrupt”

bankrupt

adjective
 
 
/ˈbæŋkrʌpt/ LAW, FINANCE
unable to pay what you owe, and having control of your financial matters given, by a court of law, to a person who sells your property to pay your debts: be/go bankrupt He went bankrupt after only a year in business.declare sb bankrupt She was officially declared bankrupt last week.
(Definition of bankrupt adjective from the Cambridge Business English Dictionary © Cambridge University Press)
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