adjective

(of a person or organization) declared in law unable to pay outstanding debts.

his father went bankrupt and the family had to sell their home

insolvent,bankrupted

noun

A person judged by a court to be insolvent, whose property is taken and disposed of for the benefit of creditors.

But we will provide more effective protection against the small minority of bankrupts who abuse their creditors and the public.

insolvent,bankrupt person

transitive verb

Reduce (a person or organization) to bankruptcy.

the strike nearly bankrupted the union

ruin,make bankrupt,cause to go bankrupt,make insolvent,impoverish,reduce to destitution,reduce to penury,bring to ruin,bring someone to their knees,wipe out,break,cripple