Insolvency is when someone is completely out of money. A company's insolvency means that it isn't able to pay its workers and may have to go out of business.
The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business;
Noun
the lack of financial resources
n.
The condition of being insolvent; the state or
condition of a person who is insolvent; the condition of one who is
unable to pay his debts as they fall due, or in the usual course of
trade and business; as, a merchant's insolvency.
n.
Insufficiency to discharge all debts of the owner; as,
the insolvency of an estate.
Insolvency
The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business;
Usage Examples
Julia progresses from cradle to grave, showing how government makes every good thing in her life possible. The weak economy, high unemployment, falling wages, rising gas prices, the national debt, the insolvency of entitlements - all these are fictionally assumed away in a cartoon that is produced by a president who wants us to forget about them.
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