bankrupt
B2Formal, Legal, Business, General
Definition
Meaning
Legally declared insolvent; unable to pay one's debts and having assets administered for the benefit of creditors.
Completely lacking in a particular quality or resource; morally or spiritually impoverished.
Linguistics
Semantic Notes
Can be used literally (legal/financial state) or figuratively (complete lack of a non-monetary quality). As a verb, it means to cause to become bankrupt.
Dialectal Variation
British vs American Usage
Differences
No significant lexical differences. The legal procedures (e.g., filing for bankruptcy) differ between jurisdictions, but the word 'bankrupt' itself is used identically.
Connotations
Equally strong negative connotations in both dialects, associated with financial failure and loss.
Frequency
Comparable frequency in business and general contexts.
Vocabulary
Collocations
Grammar
Valency Patterns
to bankrupt someone/somethingto be declared bankruptto go bankruptVocabulary
Synonyms
Strong
Neutral
Weak
Vocabulary
Antonyms
Phrases
Idioms & Phrases
- “moral bankruptcy”
- “intellectual bankruptcy”
- “bankrupt of ideas”
Usage
Context Usage
Business
The court will decide whether to declare the trading company bankrupt.
Academic
The theory was criticised as being intellectually bankrupt.
Everyday
If we keep spending like this, we'll go bankrupt!
Technical
The trustee was appointed to administer the bankrupt's estate.
Examples
By Part of Speech
verb
British English
- The failed venture bankrupted him completely.
- The cost of the lawsuit could bankrupt the small firm.
American English
- His medical bills bankrupted the family.
- The corporation was bankrupted by mismanagement.
adverb
British English
- Not commonly used as an adverb.
American English
- Not commonly used as an adverb.
Examples
By CEFR Level
- The shop had to close because it was bankrupt.
- Many people feared the company would go bankrupt during the crisis.
- He was declared bankrupt last year.
- The policy was described as morally bankrupt by its critics.
- The sudden drop in sales nearly bankrupted the start-up.
- The regime's propaganda was exposed as intellectually bankrupt.
- A series of poor investments effectively bankrupted the once-thriving enterprise.
Learning
Memory Aids
Mnemonic
Think of a BANK that is RUPTured (broken) and can't hold money anymore.
Conceptual Metaphor
BANKRUPTCY IS EMPTINESS / BANKRUPTCY IS FAILURE
Watch out
Common Pitfalls
Translation Traps (for Russian speakers)
- Do not confuse with 'bank' (банк) alone. The '-rupt' part comes from Latin 'ruptus' (broken).
- The Russian word 'банкрот' is a direct cognate, but be careful with the figurative use, which is also common in English.
Common Mistakes
- Using 'bankrupt' as a noun for the process (correct noun is 'bankruptcy'). Example mistake: 'He filed for bankrupt.'
- Confusing 'go bankrupt' (become) with 'declare bankrupt' (a legal action by a court).
Practice
Quiz
Which of the following is the correct noun form related to 'bankrupt'?
FAQ
Frequently Asked Questions
'Insolvent' is a financial state of being unable to pay debts. 'Bankrupt' is a legal status declared by a court after a formal insolvency process. One can be insolvent without being legally bankrupt.
Almost never. It carries a strongly negative connotation of failure and lack, whether financial or moral.
Yes, but it is somewhat old-fashioned or formal. 'He is bankrupt' (adjective) or 'He is a bankrupt person' is more common in modern usage.
It comes from the Italian 'banca rotta', meaning 'broken bench', referring to the medieval practice of breaking a moneylender's bench if he failed.