Definitions

1. noun

the state of being unable to pay debts as they fall due, typically resulting in bankruptcy

“The company’s insolvency was a major concern for investors.”

2. noun

a person or organization unable to pay debts as they fall due, typically resulting in bankruptcy

“The insolvency practitioner was hired to manage the company’s affairs.”

3. noun

a situation in which a person or organization is unable to pay debts as they fall due

“The insolvency of the small business was a result of poor financial management.”