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From Longman Dictionary of Contemporary English
Related topics: Business
insolventin‧sol‧vent /ɪnˈsɒlvənt $ ɪnˈsɑːl-/ adjective  BMONEYnot having enough money to pay what you owe syn bankrupt The company was later declared insolvent (=officially said to be insolvent).insolvency noun [countable, uncountable]
Examples from the Corpus
insolventHe withdrew saving from a major bank just two days before it was declared insolvent.The company auditor has filed a warning that Eurotunnel is in danger of becoming insolvent.Half of our projects were insolvent.insolvent businessesA spokesman denied the bank was insolvent, but depositors are rushing to withdraw their money.Officials estimate the Medicare fund will be insolvent by 2002.The bank could even be rendered insolvent by such a large payment.State banks are virtually insolvent due to politically-directed lending.Regional banks founded Chigin Seiho Jutaku Loan, one of the seven insolvent housing lenders.The court ordered the dissolution of seven insolvent housing loan companies.Woosung Construction went insolvent yesterday when it failed to honor 16. 9 billion worth of promissory notes the previous day.
From Longman Business Dictionaryinsolventin‧sol‧vent /ɪnˈsɒlvəntɪnˈsɑːl-/ adjectiveACCOUNTINGLAW a person or company that is insolvent does not have enough money or ASSETs to pay their debtsThe company has now been declared insolvent.The bank could be rendered insolvent by such a large payment.
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