The Collaborative International Dictionary of English v.0.48:

Bankrupt \Bank"rupt\, a.
   1. Being a bankrupt or in a condition of bankruptcy; unable
      to pay, or legally discharged from paying, one's debts;
      as, a bankrupt merchant.
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   2. Depleted of money; not having the means of meeting
      pecuniary liabilities; as, a bankrupt treasury.
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   3. Relating to bankrupts and bankruptcy.
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   4. Destitute of, or wholly wanting (something once possessed,
      or something one should possess). "Bankrupt in gratitude."
      --Sheridan.
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   Bankrupt law, a law by which the property of a person who
      is unable or unwilling to pay his debts may be taken and
      distributed to his creditors, and by which a person who
      has made a full surrender of his property, and is free
      from fraud, may be discharged from the legal obligation of
      his debts. See Insolvent, a.
      [1913 Webster]