<adj.all> a bankrupt company the company went belly-up
Bankrupt \Bank"rupt\, n. [F. banqueroute, fr. It. bancarotta bankruptcy; banca bank (fr. OHG. banch, G. bank, bench) + rotta broken, fr. L. ruptus, p. p. of rumpere to break. At Florence, it is said, the bankrupt had his bench (i.e., money table) broken. See 1st {Bank}, and {Rupture}, n.] 1. (Old Eng. Law) A trader who secretes himself, or does certain other acts tending to defraud his creditors. --Blackstone.
2. A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person. --M`Culloch.
3. (Law) A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities.
Note: In England, until the year 1861 none but a ``trader'' could be made a bankrupt; a non-trader failing to meet his liabilities being an ``insolvent''. But this distinction was abolished by the Bankruptcy Act of 1861. The laws of 1841 and 1867 of the United States relating to bankruptcy applied this designation bankrupt to others besides those engaged in trade.
Bankrupt \Bank"rupt\, a. 1. Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant.
2. Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury.
3. Relating to bankrupts and bankruptcy.
4. Destitute of, or wholly wanting (something once possessed, or something one should possess). ``Bankrupt in gratitude.'' --Sheridan.
{Bankrupt law}, a law by which the property of a person who is unable or unwilling to pay his debts may be taken and distributed to his creditors, and by which a person who has made a full surrender of his property, and is free from fraud, may be discharged from the legal obligation of his debts. See {Insolvent}, a.
Bankrupt \Bank"rupt\, v. t. [imp. & p. p. {Bankrupted}; p. pr. & vb. n. {Bankrupting}.] To make bankrupt; to bring financial ruin upon; to impoverish.
Federal appeals courts in St. Louis and New York have split on the question of whether bankruptcy judges may hear jury trials involving allegedly improper transfers of a bankrupt company's assets.
We need every subscription we can get," said Shine. "Some guy walked out of the building and thought we'd gone bankrupt." Shine couldn't speak long because customer service workers were passing around passes for free kisses.
The bankrupt state oil company will not supply kerosene to the soup kitchens, as its part in the emergency program, unless the government pays for it.
After delays on spending cuts for Italy's 1992 budget and on revamping the bankrupt state pension system imperiled Prime Minister Giulio Andreotti's government, a last-minute accord was near.
In seven years, it shed nearly 13,000 jobs to about 28,000 by the end of last year; improved training; and cut inventories. RVI nearly went bankrupt before its restructuring took effect.
The Resolution Trust Corp. will be created to sell more than $300 billion in real estate now owned by bankrupt S&Ls.
The United States, which supports the opposition move to oust Noriega, has cut off Panama's flow of dollars, virtually paralyzing the bankrupt government and leading to closure of the nation's banks.
Smart Shirts (Lanka) Ltd., a subsidiary of Hong Kong's Smart Shirts Ltd., took over a bankrupt operation in late 1983.
HomeFed's main thrift unit won Bank Board approval to leave the bankrupt FSLIC.
Last August, the Shenyang Explosion-Proof Equipment Factory was declared bankrupt by city officials, the first factory to go bankrupt in China since the 1949 Communist takeover.
Last August, the Shenyang Explosion-Proof Equipment Factory was declared bankrupt by city officials, the first factory to go bankrupt in China since the 1949 Communist takeover.
All three cities were eliminated from Braniff's schedule when the bankrupt carrier decided to operate with 20 departures out of the Kansas City airport.
But it is difficult to identify the person guilty of old pollution and current owners could be made bankrupt if they are forced to pay. Attempts to solve the problem will continue whichever party is in power after the general election.
Last month, after the council balked at an agreement to build 200 units of low-income housing and 800 subsidized middle-income units, (U.S. District Court Judge Leonard Sand) imposed fines that threatened to bankrupt the city.
Just Monday, the government pre-empted a threatened strike at the state-owned copper company, Mineria de Cananea, by declaring it bankrupt.
The LTV case helped prod Congress into tightening controls on sponsors of insured plans, and eventually led to a Supreme Court decision against the company that established some limits on what a bankrupt can get away with.
The FSLIC ended last year technically bankrupt, a federal audit shows.
It is focused on well-let, well-located and high quality property that makes up, at most, a fifth of the market. The bulk of the investment market will only begin its recovery after tenants stop going bankrupt and start to absorb new space.
MR JOHN GUMMER, the agriculture minister, condemned the European Community's farming policies as 'bankrupt' yesterday and said the government would be pressing for a swift reform of the common agricultural policy.
It intends, if that succeeds, to apply to have him declared bankrupt also. Robson Rhodes has wasted no time in moving against Mr Kevin Maxwell.
While they make a forceful argument on theoretical grounds, their ethics are morally bankrupt.
"When I took over St. Cyprian's, it was absolutely bankrupt and that's why I checked the records," Bench said.
The sales of some badly managed bankrupt institutions to financial sharpies such as Bass for what some lawmakers considered fire-sale prices have incited widespread criticism in Congress.
The justices told a federal appeals court to restudy the ruling that limits the Internal Revenue Service's authority to collect taxes owed by bankrupt taxpayers.
AUSTRALIAN Consolidated Investments (Acil) yesterday withdrew from the management committee overseeing the financial reconstruction of Bond Corporation Holdings, formerly run by Mr Alan Bond, the bankrupt entrepreneur.
About half the farms are technically bankrupt, economists say.
Fear that taking over the East's nearly bankrupt system would endanger the West German economy drove bond prices down Thursday for the third straight day.
The sooner it gets rid of the properties, the sooner it has additional cash to dispose of more bankrupt thrift institutions.
And he said they never threatened him by taking action against legislation he wanted, to strengthen the board's ability to shut down bankrupt thrifts.
The farmers complain that the preventive killing of healthy pigs will bankrupt them.