bankrupt

Definitions

  • WordNet 3.6
    • adj bankrupt financially ruined "a bankrupt company","the company went belly-up"
    • v bankrupt reduce to bankruptcy "My daughter's fancy wedding is going to break me!","The slump in the financial markets smashed him"
    • n bankrupt someone who has insufficient assets to cover their debts
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Webster's Revised Unabridged Dictionary
  • Interesting fact: A Canadian, Troy Hurtubise, spent $100,000 and almost went bankrupt building a RoboCop style suit so that he could withstand a bear attack
    • Bankrupt (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.
    • Bankrupt 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.
    • Bankrupt (Old Eng. Law) A trader who secretes himself, or does certain other acts tending to defraud his creditors.
    • Bankrupt Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant.
    • Bankrupt Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury.
    • Bankrupt Destitute of, or wholly wanting (something once possessed, or something one should possess). "Bankrupt in gratitude."
    • Bankrupt Relating to bankrupts and bankruptcy.
    • v. t Bankrupt To make bankrupt; to bring financial ruin upon; to impoverish.
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Century Dictionary and Cyclopedia
  • Interesting fact: In most American states, a wedding ring is exempt by law from inclusion among the assets in a bankruptcy estate. This means that a wedding ring cannot be seized by creditors, no matter how much the bankrupt person owes.
    • n bankrupt The breaking up of a trader's business due to his inability to meet his obligations; bankruptcy.
    • n bankrupt An insolvent person whose property is administered for, and distributed among, his creditors in accordance with the provisions of a system of laws called bankrupt, bankruptcy, or insolvent laws. See bankruptcy. In particular— In old law, a trader who secretes himself, or does certain other acts tending to defraud his creditors. Blackstone.
    • n bankrupt In popular language, a hopelessly insolvent person; one who is notoriously unable to pay his debts; hence, one who is unable to satisfy just claims of any kind made upon him.
    • bankrupt In the state of one who has committed an act of bankruptcy, or is insolvent; subject to or under legal process because of insolvency.
    • bankrupt Unable to pay just debts, or to meet one's obligations; insolvent.
    • bankrupt Figuratively, at the end of one's resources: as, to be bankrupt in thanks.
    • bankrupt To make insolvent; render unable to meet just claims.
    • bankrupt To reduce to beggary; exhaust the resources of.
    • bankrupt To become bankrupt; fail or become insolvent.
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Chambers's Twentieth Century Dictionary
  • Interesting fact: William Fox, the founder of 20th Century Fox, was bankrupt a few years after selling his studio, and served a prison sentence in Pennsylvania for bribing a judge.
    • n Bankrupt bangk′rupt one who breaks or fails in business; an insolvent person
    • adj Bankrupt insolvent: destitute (with of)
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Quotations

  • Henry David Thoreau
    Henry%20David%20Thoreau
    “The universe seems bankrupt as soon as we begin to discuss the characters of individuals.”
  • Percy Bysshe Shelley
    Percy%20Bysshe%20Shelley
    “Reviewers, with some rare exceptions, are a most stupid and malignant race. As a bankrupt thief turns thief-taker in despair, so an unsuccessful author turns critic.”
  • Leon Trotsky
    Leon%20Trotsky
    “You are pitiful isolated individuals; you are bankrupts; your role is played out. Go where you belong from now on -- into the dustbin of history!”

Etymology

Webster's Revised Unabridged Dictionary
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.)

Usage

In literature:

A TREATISE ON THE BANKRUPT LAW, FOR BUSINESS MEN.
"Punchinello Vol. II., No. 30, October 22, 1870" by Various
As a bankrupt thief turns thief-taker in despair, so an unsuccessful author turns critic.
"Adonais" by Shelley
That undid me, I found myself bankrupt.
"Bunch Grass" by Horace Annesley Vachell
Des Grassins, however, wrote to his wife that he would yet make the dead Guillaume Grandet a bankrupt, and that would stop the marriage, and Mme.
"The World's Greatest Books, Vol. I" by Various
When any person becomes bankrupt, he is immediately committed to prison in the governor's palace, and is called upon for a declaration of his effects.
"A General History and Collection of Voyages and Travels, Vol. I" by Robert Kerr
Punish a body which he could not please; Bankrupt of life, yet prodigal of ease?
"English Literature" by William J. Long
The State was bankrupt.
"Beacon Lights of History, Volume IX" by John Lord
The corruption of a bankrupt is commonly the generation of this creature.
"Character Writings of the 17th Century" by Various
Bankrupt in purse, his personal pride was yet further humbled.
"The World's Greatest Books, Vol III" by Arthur Mee and J.A. Hammerton, Eds.
The former distinction between insolvents and bankrupts is now abolished.
"Enquire Within Upon Everything" by Anonymous
This tendency became bankrupt when, under Winkelman's direction, a return was made to the antique school.
"The Essays of Arthur Schopenhauer; Religion, A Dialogue, Etc." by Arthur Schopenhauer
If Gopal becomes bankrupt, I shall be utterly ruined.
"Tales of Bengal" by S. B. Banerjea
There is no such thing among States as an undischarged bankrupt who is forbidden to carry on.
"What is Coming?" by H. G. Wells
In bodily estate he was practically a bankrupt.
"The Booming of Acre Hill" by John Kendrick Bangs
Why that word Is rich in promise, in the action bankrupt.
"The Saint's Tragedy" by Charles Kingsley
Bankrupts, Origin of the term, 404.
"The Mirror of Literature, Amusement, and Instruction." by Various
I wager it will not be long before the whole city is bankrupt.
"Armenian Literature" by Anonymous
If so, let them call for the Gazette, and look over the list of bankrupts.
"The Mirror of Literature, Amusement, and Instruction, Vol. 14, Issue 386, August 22, 1829" by Various
That man went through the pressure, and did not become a bankrupt.
"The Wonders of Prayer" by Various
The liabilities of these bankrupt concerns footed the fine total of fourteen million dollars.
"Little Journeys to the Homes of the Great, Vol. 1 of 14" by Elbert Hubbard
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In poetry:

He paid out for a bankrupt crew
The debt that to himself was due;
And satisfy'd himself for me,
When he did justice satisfy.
"The Believer's Riddle; or, the Mystery of Faith" by Ralph Erskine
Or let me muse o'er Nature's vanish'd bloom,
And try the balm retirement can impart ;
I feel, I feel my spirit pant for room,
The world weighs heavy on my bankrupt heart.
"To My Best Friend" by Laura Sophia Temple
Take care of thy dear soul, to justice cleave,
And do the poor no wrong, for conscience' sake:
For if a bankrupt thou the land shou'st leave,
Vengeance divine thy footsteps will o'ertake.
"Advice To The Dealer, Or Drover" by Rees Prichard
Your glorious land of men and gold you drain—
And seas of blood and festering hills of slain.
Bankrupt and beggar'd: in your every state
These are your gains, you'll sum them up too late.
"Civil War In America--Expostulation" by Janet Hamilton
When Spring leads forth her blushing train,
And flowrets gem the laughing plain,
Some bankrupt heart will pensive throb,
And of its charms the landscape rob,
To paint the faded sky of Yesterday.
"Yesterday" by Laura Sophia Temple
YOU bring your love too late, dear, I have no love to buy it,
I spent my love on worthless toys, at fairs you do not know;
I am a bankrupt trader--dear eyes, do not deny it,
I could have bought your love, dear, but that was long ago.
"The Temptation" by Edith Nesbit

In news:

Greece moved one step closer to persuading international lenders to release the next installment of emergency aid needed to keep the country from going bankrupt, as lawmakers approved the country's 2013 austerity budget early Monday.
Jay Fleitman argues that many people he knows believe as he does: that the slothful, willfully unemployed, high living, early-retiring poor with their "subsidized" health care are bankrupting the nation.
(AP) — A federal judge has given the trustee for a bankrupt Montana power cooperative until Dec 14 to file a reorganization proposal.
Cobbler 's Shoes: Strategy guru Michael Porter's Monitor Group goes bankrupt.
Cobbler 's Shoes: Strategy Guru Michael Porter's Monitor Group Bankrupt.
Will Obama let Detroit go bankrupt.
"As an expert body, the CRTC, not the courts , is in the best position to decide what measures are necessary to save local stations from going bankrupt," they wrote.
" The ad ends, as many recent Obama ads do, with a clip of Mitt Romney saying, "Let Detroit Go Bankrupt.
Defending the world, bankrupting ourselves.
Defending the World, Bankrupting Ourselves.
Democrats, at that time, were the party that panicked over budget deficits , warning voters that these shortfalls would bankrupt the entitlements they loved.
Leadership problems plague city like it did pre-bankrupt firm.
A huge bumper crop of solar panels already has caused a sharp decline in their prices and bankrupted many manufacturers worldwide over the past two years.
WIth so many bemoaning the supposed death of the Twinkie, it's a wonder Hostess went bankrupt three times.
About 330 workers at Hostess Brands' Northeast Philadelphia plant went on strike at 12:01 am Saturday, part of a national strike called by the bakers' union at the bankrupt company's plants across the country.
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In science:

Such random structures can, at best, be seen as a minimalist approximation to real-world flow networks which are generally not random in their structure, and which can emerge from a growth or evolutionary process in which e.g. certain production units go ‘extinct’ (bankrupt) and where new units join over time.
Stability and dynamical properties of material flow systems on random networks
Schwartz and Moon (2000) used a real-option approach to value Amazon, the company having the option to go bankrupt (thus limiting their losses).
When games meet reality: is Zynga overvalued?
Indeed, an investor who accepts gambles only if his wealth exceeds the critical wealth level will never go bankrupt.
The Foster-Hart Measure of Riskiness for General Gambles
This implies, in particular, that an investor who accepts the above uniform gamble on [−100, 200] when his wealth exceeds 100$ will not go bankrupt.
The Foster-Hart Measure of Riskiness for General Gambles
For an infinite sequence x ∈ {−1, +1}N , we say that M goes bankrupt on x, if M goes bankrupt at x ↾ n, for some non-negative integer n.
Effective betting with restricted wagers
M can take before going bankrupt after betting against y ↾ n as K (y ↾ n) = kn (M (y ↾ n)), where kn (m) = max {k : k + H (n + k) − H (n) ≤ m} .
Effective betting with restricted wagers
There, various processes proceed with different velocities, from very quick to so slow that the laboratory went bankrupt before the equilibrium is attained.
Around the gap between sociophysics and sociology
The policy, making the company go bankrupt before termination of contract between insurer and policy holders or the policy of low solvency(see ), is not the best way and should be prohibited even though it can win the highest pro fit.
Optimal dividend and investing control of a insurance company with higher solvency constraints
The company is considered bankrupt as soon as the reserve falls below m.
Optimal dividend and investing control of a insurance company with higher solvency constraints
The lower boundary ε(b, σ2 , σ2 p , T ) of bankrupt probability for the company is an increasing function of m, so theminimum reserve requirement m will increase the riskof thecompanygoes tobankruptcy.
Optimal dividend and investing control of a insurance company with higher solvency constraints
In this section we consider some numerical samples to demonstrate the bankrupt probability is a decreasing function of dividend payout level b or initial reserve x based on PDE (6.2) below.
Optimal dividend and investing control of a insurance company with higher solvency constraints
In this section, to prove Theorem 3.1, we list some lemmas on properties of bankrupt probability and V ( x, b) which will be used late.
Optimal dividend and investing control of a insurance company with higher solvency constraints
Banks with a high value of the incoming degree have lower probability to go bankrupt due to contagion effect.
Russian interbank networks: main characteristics and stability with respect to contagion
For example, for the capital buffer size of 4% of total balance sheet there is a 1% probability for more than 8 banks go bankrupt.
Russian interbank networks: main characteristics and stability with respect to contagion
The mean value of Pareto index ¯α = 2 in this case is worth to compare with the case of the Japanese company size and that of the debts of bankrupt companies ,.
Universal Structure of the Personal Income Distribution
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