Synonyms: bankruptcy
Definition: a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
Similar words: legal proceeding, proceeding, proceedings
Definition: (law) the institution of a sequence of steps by which legal judgments are invoked
Synonyms: failure, bankruptcy
Definition: inability to discharge all your debts as they come due
Usage: the company had to declare bankruptcy; fraudulent loans led to the failure of many banks
Similar words: insolvency
Definition: the lack of financial resources
Synonyms: bankruptcy
Definition: a state of complete lack of some abstract property
Usage: spiritual bankruptcy; moral bankruptcy; intellectual bankruptcy
Similar words: failure
Definition: lack of success
Usage: he felt that his entire life had been a failure; that year there was a crop failure