bankrupt, insolvent (adj)

someone who has insufficient assets to cover their debts

bankrupt, belly-up(p) (verb)

financially ruined

"a bankrupt company"; "the company went belly-up"

bankrupt, ruin, break, smash (verb)

reduce to bankruptcy

"My daughter's fancy wedding is going to break me!"; "The slump in the financial markets smashed him"

bankrupt (Verb)

To force into bankruptcy.

bankrupt (Adjective)

having been legally declared insolvent.

bankrupt

Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term bankruptcy is therefore not a synonym for insolvency.