bankruptcy

Definitions

  • WordNet 3.6
    • n bankruptcy a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
    • n bankruptcy inability to discharge all your debts as they come due "the company had to declare bankruptcy","fraudulent loans led to the failure of many banks"
    • n bankruptcy a state of complete lack of some abstract property "spiritual bankruptcy","moral bankruptcy","intellectual bankruptcy"
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Webster's Revised Unabridged Dictionary
  • 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.
    • Bankruptcy Complete loss; -- followed by of.
    • Bankruptcy The act or process of becoming a bankrupt.
    • Bankruptcy The state of being actually or legally bankrupt.
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Century Dictionary and Cyclopedia
  • Interesting fact: Success magazine recently declared bankruptcy.
    • n bankruptcy The state of being bankrupt or insolvent; inability to pay all debts; failure in trade. In law, specifically, the status of a person or corporation that by reason of insolvency has been adjudicated a bankrupt.
    • n bankruptcy Figuratively, utter wreck; ruin.
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Chambers's Twentieth Century Dictionary
    • n Bankruptcy the state of being or act of becoming bankrupt
    • ***

Quotations

  • Frank Borman
    Frank Borman
    “Capitalism without bankruptcy is like Christianity without hell.”
  • Ralph Waldo Emerson
    Ralph%20Waldo%20Emerson
    “It is said that the world is in a state of bankruptcy, that the world owes the world more than the world can pay.”
  • Eric Hoffer
    Eric%20Hoffer
    “Disappointment is a sort of bankruptcy -- the bankruptcy of a soul that expends too much in hope and expectation.”
  • H. W. Arnold
    H. W. Arnold
    “The worst bankruptcy in the world is the person who has lost his enthusiasm.”
  • Joey Adams
    Joey Adams
    “Bankruptcy is a legal proceeding in which you put your money in your pants pocket and give your coat to your creditors.”

Etymology

Chambers's Twentieth Century Dictionary
Fr. banque-route, It. banca rotta.

Usage

In literature:

You shall not so manage things at home, as every few years to bring bankruptcy upon our country.
"The Underground Railroad" by William Still
Powers of Congress in relation to Naturalization; Bankruptcy; Coining Money; Weights and Measures; Punishment of Counterfeiting.
"The Government Class Book" by Andrew W. Young
Every one knows that Agnes married the man to save her family from bankruptcy.
"Red Money" by Fergus Hume
Thus a shrinkage in the volume of money is the prolific source of bankruptcy and ruin.
"American Eloquence, Volume IV. (of 4) Studies In American Political History (1897)" by Various
But when the great revulsion occurred he was suddenly reduced to bankruptcy.
"The Book of Three Hundred Anecdotes" by Various
The Irish Parliament had run its course, and had involved the unhappy country in chaos, bankruptcy, revolution, and bloodshed.
"Against Home Rule (1912)" by Various
And our ideals of the future will in some measure be twisted by the moral and material bankruptcy of Europe.
"New York Times Current History: The European War, Vol 2, No. 1, April, 1915" by Various
Its manufacturers were on the verge of bankruptcy, its people out of patience.
"In the Days of Poor Richard" by Irving Bacheller
The attempt has commonly ended in bankruptcy.
"The Works of the Right Honourable Edmund Burke, Vol. III. (of 12)" by Edmund Burke
There was Henry Villard, whose bankruptcy of fortune killed him.
"T. De Witt Talmage" by T. De Witt Talmage
He did not need Drusus's money any longer to save him from bankruptcy.
"A Friend of Caesar" by William Stearns Davis
Tactics and strategy, as practised by the experts, had done their best, and were now in bankruptcy.
"A Handbook of the Boer War" by Gale and Polden, Limited
As soon as a nation compels a creditor to take paper currency in discharge of his debt, there is a bankruptcy.
"The Works of the Right Honourable Edmund Burke, Vol. IV. (of 12)" by Edmund Burke
What is the true inference to be drawn from the annual number of bankruptcies has been the occasion of much dispute.
"The Works of the Right Honourable Edmund Burke, Vol. V. (of 12)" by Edmund Burke
Too many seconds or culls will throw any orchard venture on the rocks of bankruptcy.
"How To Write Special Feature Articles" by Willard Grosvenor Bleyer
These countries were heading for national bankruptcy.
"The Economic Consequences of the Peace" by John Maynard Keynes
The bankruptcy of Science follows closely upon the bankruptcy of Faith.
"Humanly Speaking" by Samuel McChord Crothers
Her business was going to wreck, and bankruptcy seemed impending.
"His Masterpiece" by Emile Zola
In the second place, bankruptcy was averted and the finances of the country placed on a sound footing.
"Political and Literary essays, 1908-1913" by Evelyn Baring
But unfortunately he dashed into the bankruptcy court, and afterward she probably nagged him to death.
"The Motor Maid" by Alice Muriel Williamson and Charles Norris Williamson
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In poetry:

Seized sometimes by prodigious qualms
(Nightmares of bankruptcy and death), -
Showers down in lumps a load of alms,
Then pants as one who has lost a breath;
"Lines To A Friend Visiting America" by George Meredith
And presently says he: "Hit's true;
That Clisby's head is level.
Thar's one thing farmers all must do,
To keep themselves from goin' tew
Bankruptcy and the devil!
"Jones's Private Argyment" by Sidney Lanier
For the banks are all broken, they say,
And the merchants are all up a tree.
When the bigwigs are brought to the Bankruptcy Court,
What chance for a squatter like me.
"The Broken - Down Squatter" by Anonymous Oceania

In news:

This would give the borrower time to recover and alleviate it from defending a foreclosure or bankruptcy.
A foreclosure or bankruptcy can devastate a hotel's occupancy rate and seriously erode a lender's security.
Muni Bankruptcies Foreshadow 'Disturbing' Trend, Schotz Says.
A sign of bankruptcy to come if states don't reform retiree benefits.
Bankruptcy would not discharge her debt.
The thousands of creditors of Enron will receive a fraction of what they are owed when the company, driven into bankruptcy by an accounting scandal, emerges from Chapter 11 as two companies with new names.
On the day that Sundance kicked off and Eastman Kodak filed for bankruptcy, the Motion Picture Academy threw a bucket of ice water on the digital filmmaking revolution.
The intellectual bankruptcy of vote-fraud defenders knows no bounds.
The finances of the long-awaited slavery museum in Fredericksburg , which filed for bankruptcy protection in September, are being questioned by Fredericksburg officials, according to a Richmond Times-Dispatch story today.
The bankruptcy trustee in charge of the case, Robert Geltzer, has served summons to many freelance writers who collected fees from the magazine when it was in its death throes.
Fujiyama company files bankruptcy.
Kevork Djansezian/Getty Dodgers owner Frank McCourt has funneled $190 million from the team for non-baseball use, bankruptcy court documents allege.
A recap of the firm's collapse, the discovery of missing funds and the bankruptcy filing that shook the futures industry to its core.
They will acquire the visual effects house, which had filed for Chapter 11 bankruptcy, for $30.2 million.
The US Bankruptcy Court in Wilmington, Del.
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In science:

The management of the company controls the reinsurance rate and dividend payments process to maximize the expected present value of the dividends before bankruptcy.
Optimal Dividend and reinsurance strategy of a Property Insurance Company under Catastrophe Risk
We equate the value of the company to the expected present value of the dividend payments before bankruptcy.
Optimal Dividend and reinsurance strategy of a Property Insurance Company under Catastrophe Risk
We have justified our extension by showing both that it is indeed a consistent extension of the Foster–Hart measure of riskiness and that the no-bankruptcy result of Foster and Hart (2009) carries over to the extended measure of riskiness.
The Foster-Hart Measure of Riskiness for General Gambles
Over the last ten years, with the increase in the number of business bankruptcies and the introduction of a regulatory framework, lending institutions have started actively to manage their credit risk.
Credit derivatives: instruments of hedging and factors of instability. The example of ?Credit Default Swaps? on French reference entities
For the lender, the value of the assets must be higher than or equal to the debt, if he is to be reimbursed in the event of bankruptcy.
Credit derivatives: instruments of hedging and factors of instability. The example of ?Credit Default Swaps? on French reference entities
The co mpany controls proportional reinsurance rate, dividend pay-outs and investing process to maximize the expected present value of the dividend payouts until the time of bankruptcy.
Optimal dividend and investing control of a insurance company with higher solvency constraints
Keywords: Optimal dividend policy; Optimal return function; Solvency; Stochastic regular-singular control; Proportional reinsurance; Probability of bankruptcy; Stochastic differential equations.
Optimal dividend and investing control of a insurance company with higher solvency constraints
The objective of the company is to find a policy, c onsisting of risk control and dividend payment scheme, which maximizes the expected total discounted dividend pay-outs until the time of bankruptcy.
Optimal dividend and investing control of a insurance company with higher solvency constraints
However, we find that the case treated in the is a tr ivial case, that is, the company of the model in the will never go to bankruptcy, it is an ideal model in concept, and it indeed does not exist in reality(see Theorem 4.2 below).
Optimal dividend and investing control of a insurance company with higher solvency constraints
Because probability of bankruptcy for the model treated in the present paper is very large (see Theorem 4.1 below), our results can not be directly deduced from the .
Optimal dividend and investing control of a insurance company with higher solvency constraints
The proofs of theorems and lemmas which study properties of probability of bankruptcy and optimal return function will be given in the appendix.
Optimal dividend and investing control of a insurance company with higher solvency constraints
We x = inf {t ≥ 0 : Rπ define the time of bankruptcy by τπ t ≤ m}.
Optimal dividend and investing control of a insurance company with higher solvency constraints
B := (cid:8)b : P[τπb b ≤ T ] ≤ ε , J ( x, πb ) = V ( x, b) and πb ∈ Πb (cid:9), c > 0 is a discount rate, τπb b is the time of bankruptcy τπb x when the initial reserve x = b and the control policy is πb . 1 − ε is the standard of security and less than solvency for given ε > 0.
Optimal dividend and investing control of a insurance company with higher solvency constraints
For a given levelof risk and timehorizon, if probabilityof bankruptcy is less than the levelof risk, theoptimalcontrolproblemof (2.4)and (2.5) is the traditional one, the company has higher solvency, so it will have good reputation.
Optimal dividend and investing control of a insurance company with higher solvency constraints
If probability of bankruptcy is large than the level of risk, the traditional optimal policy will not meet the standard of security and solvency, the company needs to find a sub-optimal policy π∗b∗ to improve its solvency.
Optimal dividend and investing control of a insurance company with higher solvency constraints
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