Victor captured in offensive is ruined (9)
I believe the answer is:
insolvent
'is ruined' is the definition.
(thesaurus)
'victor captured in offensive' is the wordplay.
'victor' becomes 'V' (phonetic alphabet: alpha, bravo, charlie etc.).
'captured' means one lot of letters goes inside another.
'in offensive' becomes 'insolent' (I can't justify this - if you can you should give a lot more credence to this answer).
'v' placed within 'insolent' is 'INSOLVENT'.
Can you help me to learn more?
(Other definitions for insolvent that I've seen before include "on the rocks" , "without the means to pay" , "unable to raise the wind" , "Snivel not, although you are bankrupt!" , "strapped for cash" .)