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English definition of “bankruptcy”

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bankruptcy

noun uk   /ˈbæŋ.krəpt.si/ us  
[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. [U] the fact of good qualities being completely absent: moral bankruptcy
(Definition of bankruptcy from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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