bankruptbankrupt: the title given to a person in respect of whom a b... More: the title given to a person in respect of whom a bankruptcy order is made by a court under the provisions of the Insolvency Act 1986; such an order will have typically been made because the person owes a debt to a creditor and the creditor has petitioned the court for the person’s bankruptcy, on the grounds that the person is unable to pay the debt. However, a person can also declare themselves bankruptbankrupt: the title given to a person in respect of whom a b... More.