bankrupt

/'bæɳkrəpt/

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Understanding the Word "Bankrupt"

Definition: The word "bankrupt" can be used as an adjective, noun, or verb.

Usage Instructions:

• Adjective: Use it to describe financial situations.

  • Example: "The bankrupt business had to close."

• Noun: Use it to refer to a person or company that cannot pay debts.

  • Example: "After the financial crisis, many people became bankrupt."

• Verb: Use it when talking about causing financial ruin.

  • Example: "The poor investment could bankrupt the entire firm."

Advanced Usage:

• Legal Context: In legal terms, "bankruptcy" is the official process through which someone declares they cannot pay their debts. This can involve a court deciding how to manage the debts.
• International Context: Different countries have different bankruptcy laws, which can affect how bankruptcies are handled.

Word Variants:

• Bankruptcy (noun): The state of being bankrupt. Example: "He filed for bankruptcy when he lost his job."
• Bankruptcies (plural noun): More than one instance of bankruptcy. Example: "The number of bankruptcies increased during the recession."

Different Meanings:

• The primary meaning of "bankrupt" relates to financial failure. However, it can also be used metaphorically to describe something that is completely lacking in a quality or resource.
  • Example: "His ideas are bankrupt of creativity."

Synonyms:

• Insolvent
• Broke
• Financially ruined
• Out of money

Idioms:

• "Go belly-up": This idiom means to fail completely, especially financially. For example, "The restaurant went belly-up after just one year."
• "In the red": This means to be in debt or to have negative financial status. For example, "After the holidays, my bank account is in the red."

Phrasal Verbs:

• "Break someone": This means to cause someone to become financially ruined or bankrupt. Example: "The costs of the new project may break the company."

Summary:

"Bankrupt" is a versatile word that can describe a serious financial situation involving individuals or businesses.

Academic

Adjective

1. financially ruined
   • a bankrupt company
   • the company went belly-up

Noun

1. someone who has insufficient assets to cover their debts

Verb

1. reduce to bankruptcy
   • My daughter's fancy wedding is going to break me!
   • The slump in the financial markets smashed him

Synonyms

• belly-up
• insolvent
• ruin
• break
• smash