Critics view the decision as an example of moral/ethical 'bankruptcy' on the part of the administration.
The company 'filed for bankruptcy' [=officially asked to be legally recognized as bankrupt] in July.
He 'declared bankruptcy'. [=formally said that he was bankrupt in a legal document]
(..) The same thing happened this morning with Skyfleet stock... ...or was supposed to. With their prototype destroyed, the company would be near bankruptcy. Instead, somebody lost over $ million betting the wrong way. You think it's this man Le Chiffre. Which would explain how he could (..)2006 Casino Royale