insolvency - definition in the Business English Dictionary - Cambridge Dictionaries Online

Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “insolvency”

insolvency

noun [C or U]
 
 
/ɪnˈsɒlvənsi/ ( plural insolvencies)
FINANCE, ACCOUNTING, LAW a situation in which a person or company does not have enough money to pay debts, buy goods, etc.: The company warned that it may have to seek insolvency proceedings, which would see creditors recover only a small amount of their liabilities. The building owners agreed to contribute to the union's health plan to rescue it from insolvency.go into/file for/face insolvency The decision to file for insolvency rather than bankruptcy provides protection against creditors. to stave off/avoid insolvency an insolvency expert/specialist/lawyer
(Definition of insolvency from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of insolvency?
Add Cambridge dictionaries to your browser to your website

More Business English definitions for “insolvency”

Word of the Day

disappear off the face of the earth

to disappear completely

Word of the Day

The language of elections

by Liz Walter,
April 22, 2015
On May 7th, citizens of the UK will be going to the polls (having an election) to decide who will form the next government. This kind of election is known as a general election. The country is divided into 650 areas, called constituencies. Each constituency elects a member of parliament (MP) to

Read More 

dumbwalking noun

April 20, 2015
walking slowly, without paying attention to the world around you because you are consulting a smartphone He told me dumbwalking probably wouldn’t be a long-term problem.

Read More