Meaning: Someone who has insufficient assets to cover their debts. Classified under: Nouns denoting people. Synonyms: bankrupt; insolvent. Hypernyms (bankrupt is a kind of...): failure; loser; nonstarter; unsuccessful person (a person with a record of failing; someone who loses consistently) • BANKRUPT (adjective)
https://www.audioenglish.org/dictionary/bankrupt.htm
Definition of bankrupt in the AudioEnglish.org Dictionary. Meaning of bankrupt. What does bankrupt mean? Proper usage and pronunciation (in phonetic transcription) of the word bankrupt. Information about bankrupt in the AudioEnglish.org dictionary, synonyms and antonyms.
https://www.audioenglish.org/dictionary/bankrupt.htm
Additionally, a bankrupt is required to provide his or her trustee with details of income and assets. If the bankrupt does not comply with the Trustee's request to provide details of income, the trustee may have grounds to lodge an Objection to Discharge, which has the effect of extending the bankruptcy for a further five years.
https://en.wikipedia.org/wiki/Bankruptcy
Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankruptcy is not the only legal status that an insolvent person may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, such as the United Kingdom, bankruptcy is limited to individuals; other forms of insolvency proceedings are applied to companies. In the United States
https://en.wikipedia.org/wiki/Bankruptcy
Dictionary entry overview: What does bankrupt mean? • BANKRUPT (noun) The noun BANKRUPT has 1 sense: 1. someone who has insufficient assets to cover their debts Familiarity information: BANKRUPT used as a noun is very rare. • BANKRUPT (adjective) The adjective BANKRUPT has 1 sense: 1. financially ruined Familiarity information: BANKRUPT used as an adjective is very rare. • BANKRUPT (verb) The verb BANKRUPT has 1 sense: 1. reduce to bankruptcy Familiarity information: BANKRUPT used as a verb is very rare.
https://www.audioenglish.org/dictionary/bankrupt.htm
Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankruptcy is not the only legal status that an insolvent person may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, such as the United Kingdom, bankruptcy is limited to individuals, and other forms of insolvency proceedings (such as liquidation and administration) are applied to companies.
https://en.wikipedia.org/wiki/Bankruptcy
Some of the duties of the trustee in bankruptcy are to: 1  Review the file for any fraudulent preferences or reviewable transactions. 2  Chair meetings of creditors. 3  Sell any non-exempt assets. 4  Object to the bankrupt's discharge. 5  Distribute funds to creditors.
https://en.wikipedia.org/wiki/Bankruptcy
Definition of bankruptcy in the AudioEnglish.org Dictionary. Meaning of bankruptcy. What does bankruptcy mean? Proper usage and audio pronunciation (and phonetic transcription) of the word bankruptcy. Information about bankruptcy in the AudioEnglish.org dictionary, synonyms and antonyms.
https://www.audioenglish.org/dictionary/bankruptcy.htm
All other assets of value are sold. If a house or car is above a certain value, the bankrupt can buy the interest back from the estate in order to keep the asset. If the bankrupt does not do this, the interest vests in the estate and the trustee is able to take possession of the asset and sell it.
https://en.wikipedia.org/wiki/Bankruptcy
The code covers three separate legal proceedings. 1  The first is the bankruptcy (Faillissement). The goal of the bankruptcy is the liquidation of the assets of the company. 2  The second legal proceeding in the Faillissementswet is the Surseance van betaling. The Surseance van betaling only applies to companies.
https://en.wikipedia.org/wiki/Bankruptcy
what does bankrupt mean
Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.