[bangk-ruhpt, -ruhpt]
Law. a person who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court and whose property is administered for and divided among his or her creditors under a bankruptcy law.
any insolvent debtor; a person unable to satisfy any just claims made upon him or her.
a person who is lacking in a particular thing or quality: a moral bankrupt.
Law. subject to or under legal process because of insolvency; insolvent.
at the end of one's resources; lacking (usually followed by of or in ): bankrupt of compassion; bankrupt in good manners.
pertaining to bankrupts or bankruptcy.
verb (used with object)
to make bankrupt: His embezzlement bankrupted the company.

1525–35; < Medieval Latin banca rupta bank broken; replacing adaptations of Italian banca rota and French banqueroute in same sense

pseudobankrupt, adjective
quasi-bankrupt, adjective

4. destitute, impoverished. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
bankrupt (ˈbæŋkrʌpt, -rəpt)
1.  a person adjudged insolvent by a court, his or her property being transferred to a trustee and administered for the benefit of his creditors
2.  any person unable to discharge all his or her debts
3.  a person whose resources in a certain field are exhausted or nonexistent: a spiritual bankrupt
4.  adjudged insolvent
5.  financially ruined
6.  depleted in resources or having completely failed: spiritually bankrupt
7.  (Brit) (foll by of) lacking: bankrupt of intelligence
8.  (tr) to make bankrupt
[C16: from Old French banqueroute, from Old Italian bancarotta, from bancabank1 + rotta broken, from Latin ruptus, from rumpere to break]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1530s, from It. banca rotta, lit. "a broken bench," from banca "moneylender's shop," lit. "bench" (see bank (1)) + rotta "broken, defeated, interrupted" from (and remodeled on) L. rupta, fem. pp. of rumpere "to break" (see rupture). "[S]o called
from the habit of breaking the bench of bankrupts" [Klein]. The verb is first recorded 1550s.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Everywhere good businesses are going bankrupt and jobs are being destroyed.
The choice boiled down to going bankrupt or putting the equipment to work.
When a player gets into debt and can't persuade anybody else to lend to him, he
  goes bankrupt.
The world financial community went bankrupt through bad policy.
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