bankrupt

: a debtor (as an individual or organization) whose property is subject to administration under the bankruptcy laws for the benefit of the debtor's creditors was adjudicated a bankrupt — see also debtor

: ruined financially; especially : judicially declared a bankrupt the company is bankrupt — compare insolvent : judicially declared a bankrupt the company is bankrupt — compare insolvent

: to reduce to bankruptcy was bankrupted by attorney's fees