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The phrase "a bankrupt" is correct and usable in written English.
It can be used to refer to a person or entity that has declared bankruptcy or is unable to pay their debts.
Example: "After years of poor financial decisions, he found himself a bankrupt, struggling to rebuild his life."
Alternatives: "an insolvent" or "a debtor in default".
Exact(59)
They became chief executives of a bankrupt MGM more than a year ago.
Lincoln was a bankrupt store-keeper.
"I rescued a bankrupt organization".
A bankrupt dot-com mogul?
Now it's a bankrupt ruin.
What a bankrupt and anarchic city!
We do not want a bankrupt nation.
Then, afterwards, he was a bankrupt.
Only one misery could beat a bankrupt Pittsburgh: a bankrupt Pittsburgh without its sports teams.
"It's like a bankrupt corporation paying dividends to its shareholders".
"Austerity is going to be a bankrupt policy.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com