bankruptcy /ˈbæŋ.kɹʌp(t).si/noun 2forms 1phrases 1 noun2 •A legally declared or recognized condition of insolvency of a person or organization.The company ended up filing for bankruptcy. •A rule in Tycoon where if the top player does not get first place that round, they instantly get last place formsbankruptcies Phrases with bankruptcy moral bankruptcyThe state or condition of being morally bankrupt; unethicality.