Bankruptcy is a term that we often hear in the financial world. It is a legal process where an individual or a company declares that they are unable to pay their debts. The term bankrupted is used to describe the state of being bankrupt. In this article, we will discuss the definition and meaning of bankrupted.
Definitions
Bankrupted is the past tense of the verb bankrupt, which means to become bankrupt or insolvent. It is used to describe a situation where an individual or a company is unable to pay their debts and their assets are seized to pay off their creditors.
Origin
The word bankrupted has its origin in the Italian word ‘banca rotta,’ which means a broken bench. In the early days, bankers and moneylenders used to conduct their business on benches in the marketplaces. If a banker was unable to pay his debts, his bench would be broken, and he would be declared bankrupt.
Meaning in different dictionaries
According to the Merriam-Webster dictionary, bankrupted means to reduce to bankruptcy or financial ruin. The Oxford English Dictionary defines it as to become bankrupt or insolvent.
Associations
The term bankrupted is associated with financial hardship, debt, and insolvency. It is often used to describe a situation where an individual or a company has failed to manage their finances, resulting in the loss of their assets and reputation.
Synonyms
Some synonyms of bankrupted include insolvent, broke, ruined, and destitute.
Antonyms
The antonyms of bankrupted are solvent, wealthy, prosperous, and affluent.
The same root words
The root word of bankrupted is bankrupt, which comes from the Italian word ‘banca rotta.’ Other words that have the same root include bankruptcy, bank, and banker.
Example Sentences
- After the company’s failed expansion plan, they were forced to declare bankruptcy and were ultimately bankrupted.
- The businessman’s lavish lifestyle bankrupted him, and he lost all his assets.
- The economic recession bankrupted many small businesses in the country.
- The company’s CEO was held responsible for their bankruptcy, which bankrupted many of their investors.