Pronunciation: (bangk'rupt, -rupt),[key] —n. 1. Law.a person who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court and whose property is administered for and divided among his or her creditors under a bankruptcy law.
2. any insolvent debtor; a person unable to satisfy any just claims made upon him or her.
3. a person who is lacking in a particular thing or quality: a moral bankrupt.
—adj. 1. Law.subject to or under legal process because of insolvency; insolvent.
2. at the end of one's resources; lacking (usually fol. by of or in): bankrupt of compassion; bankrupt in good manners. 3. pertaining to bankrupts or bankruptcy.
—v.t. to make bankrupt: His embezzlement bankrupted the company.