bankruptcy :

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bang kruhp see

  • n  a state of complete lack of some abstract property
    spiritual bankruptcy
    moral bankruptcy
    intellectual bankruptcy
  • n  inability to discharge all your debts as they come due
    the company had to declare bankruptcy
  • n  a legal process intended to insure equality among the creditors of a corporation declared to be insolvent

  • Jeffrey Sauger Bloomberg News Landov GM is headquartered in Detroit and employs more than 53,000 people in Michigan, but in the corporate-bankruptcy system, courts compete for .
  • The high court permits troubled firms to cancel union pacts In most dictionaries, bankruptcy is a polite word for going belly up.
  • If GM files for bankruptcy, it may do so in a city far, far away from its employees or suppliers.
News & Articles


  • President Bush in Reuters UK
    If we were to allow the free market to take its course now, it would almost certainly lead to disorderly bankruptcy and liquidation for the automakers,Bush said, warning that to do nothing would deepen and prolong the US recession.
  • Nancy Pelosi in Detroit Free Press
    I believe an intervention will happen, either legislatively or from the administration,Pelosi said. "I think it's pretty clear that bankruptcy is not an option."
  • Barack Obama in Media Matters for America
    At a March 5 health-care forum, Obama said, "The cost of health care now causes a bankruptcy in America every 30 seconds."

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