In a manner characteristic of bankruptcy or insolvency; while in a state of financial ruin (extremely rare or archaic).
From 'bankrupt' plus the adverb-forming suffix '-ly', creating an adverb to modify verbs—a grammatically possible but rarely used formation.
Adverbs like 'bankruptly' show the amazing flexibility of English, where you can theoretically add '-ly' to almost any adjective, but most of these creations sound awkward and never make it into actual speech!
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