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Bankrupt

Bankrupt is someone who in impoverished and has depleted his resources. In legal terminology, it refers to someone who is declared in law unable to pay outstanding debts. Such a person or organization is judged by a competent court to be insolvent, their property is taken and disposed of to pay back their creditors.

Page last modified on Saturday July 18, 2020 04:41:17 GMT-0000