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insolvency

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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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? Mentioned in ? References in classic literature
 
In the matter of Treason the pig would appear To have aided, but scarcely abetted: While the charge of Insolvency fails, it is clear, If you grant the plea 'never indebted.
The Hunting of the Snark by Carroll, Lewis View in context
I do not think this general insolvency, which involves in some sort all the population, to be the reason of the difficulty experienced at Christmas and New Year and other times, in bestowing gifts; since it is always so pleasant to be generous, though very vexatious to pay debts.
Essays, Second Series by Emerson, Ralph Waldo View in context
I am not sure that I shall succeed, but it is the only thing that will save me from insolvency, and I am trying.
Howards End by Forster, E. M. View in context
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