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Insolvency

Condition of a company or person unable to pay due debts.

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Related terms

insolvency
Banking; Investment banking

The inability of borrowers to meet their payment obligations. Opposite: solvency.

insolvent
Legal services; Courts

When the total debt of an entity is greater than all of its property.

insolvency
Economy; Economics

Inability of an individual or company to pay debts as they fall due.

insolvency
Law; General law

A person is said to be insolvent when he/she is unable to pay the debts as they come due, or when the value of the debts exceed the value of his/her assets.

insolvency
Legal services; Bankruptcy

Condition of a company or person unable to bay due debts.

insolvent
Financial services; General Finance

A firm that is unable to pay debts (its liabilities exceed its assets).

involuntary petition
Legal services; Bankruptcy

A petition filed in a bankruptcy court by a creditor seeking to declare a debtor bankrupt.

Dewey & Leboeuf LLP
Legal services; Bankruptcy

Based in New York, Dewey & Leboeuf LLP was once one of the largest law firms in the U.S. with more than 1,300 attorneys in 12 countries at its peak. The firm was formed by merging ...

admiralty claim
Legal services; Bankruptcy

Application to take possession of a ship to satisfy a debt.

bailiff
Legal services; Bankruptcy

Persons authorized to deliver court documents, make arrests, remove and sell debtors' possessions and evict them from their property.

bankrupt
Legal services; Bankruptcy

Wherby an individual or organization is insolvent, i.e. not able to meet the dues on their loans, leading to their assets being liquidated and distributed to creditors.

charging order
Legal services; Bankruptcy

Court order delivered to a debtor preventing him from selling assets, e.g. a house, without paying his debts to a claimant.

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