1. A company that has been declared legally insolvent and unable to pay its debts, having liabilities that exceed assets
The bankrupt company filed for Chapter 11 protection to reorganize its operations.
A empresa falida requereu proteção sob o Capítulo 11 para reorganizar suas operações.
2. A business that has exhausted its financial resources and is no longer able to continue normal operations
Many bankrupt companies were forced to close their doors during the recession.
Muitas empresas falidas foram forçadas a fechar suas portas durante a recessão.