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"Declaring Bookruptcy" is the act of abandoning a book that one has been reading before reaching the end of the work. May be coupled with "Chapter __" to declare just how far into the work one managed to get.
"Oh man, this class has us reading "Brothers Karamazov". Have you read it?"
"Nah, I declared bookruptcy a few hundred pages in."

"Wuthering Heights was really awful, I couldn't get through it without declaring bookruptcy"
"My friend said it gets better towards the end"
"Oh, I wouldn't know, it was a chapter 3 bookruptcy"
by eternalstudent November 26, 2009
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