bankárupt [bngk rpt] adjective 1. unable to pay debts: judged legally to be unable to pay off personal debts 2. without qualities: completely lacking in a particular quality, especially in good or ethical qualities morally bankrupt noun (plural bankárupts) 1. somebody who cannot pay debts: somebody who is unable to pay his or her debts 2. somebody without quality: somebody who completely lacks a particular quality transitive verb (past and past participle bankáruptáed, present participle bankáruptáing, 3rd person present singular bankárupts) deplete somebody’s funds: to cost so much that a person or business will have hardly any money left or will be declared bankrupt [Mid-16th century. < Italian banca rotta "broken table" < banca (see bank1) + rotto < Latin ruptus "broken"]