When a business owes so much money it cannot pay it back, this is an example of insolvency.
- The condition of being insolvent.
- An instance of being insolvent.
- The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business; as, a merchant's insolvency.
- Insufficiency to discharge all debts of the owner; as, the insolvency of an estate.
- The condition of having more debts than assets.
insolvent + -cy
insolvency - Investment & Finance Definition
The condition of being unable to pay debts that are due. An insolvent person or company is likely to end up in bankruptcy.
- He then closed the Collegio Romano, on the plea of its insolvency, seized the houses at Frascati and Tivoli, and broke up the establishments in Bologna and the Legations.
- The extensive building operations engaged in by the town council in the early part of the, 9th century resulted in the insolvency of the city in 1833.
- Worst of all, the government was drifting rapidly towards insolvency, being quite unable to fulfil its obligations to the bondholders and meet the expenses of administration.
- Although this fact will not in itself make the companies liable to any process of reorganization similar to that following insolvency and foreclosure of the American railway, it is probable that reorganization of some sort must nevertheless take place in Great Britain, and it may well be questioned whether the position of the transportation system of that country would not have been better if it had been built up and projected on the experience gained by actual earlier losses, as in the United States.
- Of three judges each, ten districts (some with sub-divisions) of the common pleas court, the superior court of Cincinnati, probate courts, courts of insolvency in Cuyahoga and Hamilton counties, juvenile courts (established in 1904), justice of the peace courts and municipal courts.