The Collaborative International Dictionary of English v.0.48:

Bankruptcy \Bank"rupt*cy\, n.; pl. Bankruptcies.
   1. The state of being actually or legally bankrupt.
      [1913 Webster]

   2. The act or process of becoming a bankrupt.
      [1913 Webster]

   3. Complete loss; -- followed by of.
      [1913 Webster]

WordNet (r) 3.0 (2006):

bankruptcy
    n 1: a state of complete lack of some abstract property;
         "spiritual bankruptcy"; "moral bankruptcy"; "intellectual
         bankruptcy"
    2: inability to discharge all your debts as they come due; "the
       company had to declare bankruptcy"; "fraudulent loans led to
       the failure of many banks" [syn: bankruptcy, failure]
    3: a legal process intended to insure equality among the
       creditors of a corporation declared to be insolvent

Moby Thesaurus II by Grady Ward, 1.0:

54 Moby Thesaurus words for "bankruptcy":
   bouncing check, breakage, breakdown, bust, collapse, crack-up,
   crash, crippling, damage, defeat, destruction, detriment,
   dilapidation, disablement, disrepair, encroachment, failure,
   futility, harm, hobbling, hurt, hurting, ill success, impairment,
   incapacitation, infringement, injury, inroad, insolvency,
   insufficient funds, kited check, losing game, loss, maiming,
   mayhem, mischief, mutilation, no go, nonaccomplishment, nonsuccess,
   overdraft, overdrawn account, receivership, ruination, ruinousness,
   sabotage, scathe, sickening, spoiling, successlessness, unsuccess,
   unsuccessfulness, uselessness, weakening