Bankrupted: meaning, definitions and examples
๐ธ
bankrupted
[ หbรฆลkrสptษชd ]
financial situation
To be bankrupted means to be declared unable to pay oneโs debts. This can occur after a court judgment or through other legal declarations. It often results in the liquidation of assets to pay creditors.
Synonyms
financially broken, insolvent, ruined.
Examples of usage
- The company was bankrupted after years of poor sales.
- He was bankrupted following the economic crisis.
- Her medical expenses bankrupted the family.
- Many businesses were bankrupted due to the pandemic.
Translations
Translations of the word "bankrupted" in other languages:
๐ต๐น falido
๐ฎ๐ณ เคฆเคฟเคตเคพเคฒเคฟเคฏเคพ
๐ฉ๐ช bankrott
๐ฎ๐ฉ bangkrut
๐บ๐ฆ ะฑะฐะฝะบััั
๐ต๐ฑ bankrut
๐ฏ๐ต ็ ด็ฃใใ
๐ซ๐ท failli
๐ช๐ธ quebrado
๐น๐ท iflas eden
๐ฐ๐ท ํ์ฐํ
๐ธ๐ฆ ู ููุณ
๐จ๐ฟ bankrotovanรฝ
๐ธ๐ฐ skrachovanรฝ
๐จ๐ณ ็ ดไบง็
๐ธ๐ฎ bankrotiran
๐ฎ๐ธ gjaldรพrota
๐ฐ๐ฟ ะฑะฐะฝะบัะพัาะฐ าฑัััะฐาะฐะฝ
๐ฌ๐ช แแแแแ แแขแ
๐ฆ๐ฟ iflas etmiล
๐ฒ๐ฝ quebrado
Etymology
The verb 'to bankrupt' originates from the Italian phrase 'banca rotta,' which means 'broken bench.' In medieval Italy, moneychangers would conduct their business on benches in marketplaces; if they defaulted on loans, their benches would be broken as a sign of their financial failure. This term was adopted into Middle English during the 16th century. The legal concept of bankruptcy evolved over centuries, becoming formalized in laws that allow individuals or companies to restructure their debts or liquidate assets. In modern context, bankruptcy is a legal status that enables a person or business to seek relief from debts they cannot pay. The term has expanded to encompass not just the act of declaring bankruptcy but also the broader consequences that follow, such as loss of reputation and financial recovery efforts.