Definitions

1. adjective

unable to pay debts or bills; bankrupt

“The company went bankrupt and was declared insolvent by the court.”

2. noun

a person or business that is unable to pay debts or bills; a bankrupt

“The insolvent was given several options to repay the debt or face further consequences.”

3. verb

to become or make someone or something unable to pay debts or bills; to bankrupt

“The company’s financial mismanagement led to its being insolvent, and it eventually went bankrupt.”