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bankruptMain Entry: 1bank·rupt Pronunciation: \ˈbaŋk-(ˌ)rəpt\ Function: noun Etymology: modification of Middle French & Old Italian; Middle French banqueroute bankruptcy, from Old Italian bancarotta, from banca bank + rotta broken, from Latin rupta, feminine of ruptus, past participle of rumpere to break — more at bank, reave Date: 1533 1 a : a person who has done any of the acts that by law entitle creditors to have his or her estate administered for their benefit b : a person judicially declared subject to having his or her estate administered under the bankrupt laws for the benefit of creditors c : a person who becomes insolvent 
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