insolvent - Hutchinson encyclopedia article about insolvent Printer Friendly
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insolvency
(redirected from insolvent)

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insolvency

Inability to pay debts when they fall due. A company is technically insolvent when its liabilities exceed its assets. Individuals who are insolvent may become bankrupt (see bankruptcy), while companies may go into liquidation. In either case an insolvency practitioner is likely to be appointed as a trustee in bankruptcy or liquidation in order to salvage assets for the creditors.
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