Bankruptcy: meaning, definitions and examples
๐ธ
bankruptcy
[ หbรฆลkrษptsi ]
legal process
Bankruptcy is a legal process through which individuals or businesses that cannot repay their debts to creditors may seek relief from some or all of their debts. It is often initiated by the debtor.
Synonyms
default, insolvency, liquidation
Examples of usage
- After years of financial struggle, the company had no choice but to file for bankruptcy.
- Personal bankruptcy can have long-lasting effects on an individual's credit score.
financial status
Bankruptcy refers to the state of being completely lacking in a particular quality or value. It can also mean the state of having been declared bankrupt.
Synonyms
bankrupt state, insolvency, ruin
Examples of usage
- The bankruptcy of the company led to widespread job losses.
- His bankruptcy of ideas left him unable to come up with a solution.
Translations
Translations of the word "bankruptcy" in other languages:
๐ต๐น falรชncia
๐ฎ๐ณ เคฆเคฟเคตเคพเคฒเคฟเคฏเคพเคชเคจ
๐ฉ๐ช Bankrott
๐ฎ๐ฉ kebangkrutan
๐บ๐ฆ ะฑะฐะฝะบัััััะฒะพ
๐ต๐ฑ bankructwo
๐ฏ๐ต ็ ด็ฃ (ใฏใใ)
๐ซ๐ท faillite
๐ช๐ธ quiebra
๐น๐ท iflas
๐ฐ๐ท ํ์ฐ (็ ด็ฃ)
๐ธ๐ฆ ุฅููุงุณ
๐จ๐ฟ bankrot
๐ธ๐ฐ bankrot
๐จ๐ณ ็ ดไบง (pรฒchวn)
๐ธ๐ฎ steฤaj
๐ฎ๐ธ gjaldรพrot
๐ฐ๐ฟ ะฑะฐะฝะบัะพัััา
๐ฌ๐ช แแแแแชแฎแแแแแ
๐ฆ๐ฟ mรผflislik
๐ฒ๐ฝ quiebra
Etymology
The word 'bankruptcy' originates from the Italian word 'banca rotta', meaning 'broken bench'. In ancient times, Italian moneylenders conducted their business sitting at benches. When a moneylender could no longer pay his debts, his bench was physically broken as a symbol of his insolvency. The concept of bankruptcy has evolved over centuries to become the legal process we know today.
See also: bankrupting.