noun (n)

• a state of complete lack of some abstract property(noun.state)

  Example:
  Spiritual bankruptcy.
  Moral bankruptcy.
  Intellectual bankruptcy.
  

  source: wordnet30
• inability to discharge all your debts as they come due(noun.state)

  Example:
  The company had to declare bankruptcy.
  

  Synonym:
  failure
  

  source: wordnet30
• a legal process intended to insure equality among the creditors of a corporation declared to be insolvent(noun.act)

  source: wordnet30
• The state of being actually or legally bankrupt.(noun)

  source: webster1913