bankruptcy

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bankruptcy,

n the legal process by which a person, business, or corporation is declared to be insolvent and unable to pay creditors.
References in periodicals archive ?
In the past year, 75% of all bankruptcies were people bankrupting themselves the highest proportion ever, and more than double the rate of only four years ago.
Nearly two thirds of all bankruptcies are now people bankrupting themselves -- the highest proportion ever.
The United Steelworkers (USW) today accused Grupo Mexico of deliberately bankrupting its U.