We prove the equilibrium existence of incomplete markets economies with an uncountable number of states without any special hypothesis on endowments by the introduction of bankruptcy.

We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.

We prove equilibrium existence for economies with separable utilities, uncountable state space, incomplete markets without any special assumptions on endowments