Creditor committees and managers of bankrupt companies often are too optimistic.
From the businessweek.com
Norlin eventually went bankrupt and Moog moved to Asheville to raise his family.
From the suntimes.com
So its a double whammy plus real interest rates rise in a near bankrupt economy.
From the economist.com
I guess it will never go bankrupt because they will just keep tacking on levies.
From the dailymercury.com.au
Early last year he was declared bankrupt, though the company was later salvaged.
From the guardian.co.uk
Carpenter also was a director at CIT Group Inc., the bankrupt commercial lender.
From the freep.com
Appaloosa Management backs away from investing in the bankrupt auto parts maker.
From the businessweek.com
In 1932, Paramount took a $20 million bath in red ink and was declared bankrupt.
From the time.com
Iceland, the first nation to go bankrupt in the credit crunch, recently applied.
From the newsweek.com
More examples
Financially ruined; "a bankrupt company"; "the company went belly-up"
Reduce to bankruptcy; "My daughter's fancy wedding is going to break me!"; "The slump in the financial markets smashed him"
Someone who has insufficient assets to cover their debts
Bankruptcy is simply the inability of an individual to secure any more money from a bank. It is a device that informs banks that an individual or organization will not be able to pay monies owed if any more money is lent. ...
To force into bankruptcy; having been legally declared insolvent
A person, firm, or corporation that, through a court proceeding, is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.
A person who is insolvent; one whose total wealth is legally declared insufficient to pay his/her debts.
One who is adjudicated a bankrupt by a court having proper jurisdiction. The bankruptcy may be voluntary (petitioned by the bankrupt) or involuntary (petitioned by the creditors of the bankrupt).
When an individual has reached the point of being totally incapable of repaying their outstanding debts