Comment by credit_guy

Not sure the choice of the word "bankruptcy" is meaningful. "Bankruptcy" is short for "bankruptcy protection", where an insolvent debtor tells a court they have no way of paying back all their current debts with whatever assets they have, and the court deals with the creditors and restructures all those debts in an equitable way (according to the law), so the debtors liability is limited. This is one of the cornerstones of capitalism, the limited liability concept.

When it comes to nature, there is no limited liability. If you don't have water, you don't have water, there's no way to get any "bankruptcy protection" from anyone.