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English definition of “insolvent”

insolvent

adjective
 
 
/ɪnˈsɒlvənt/ US   /-ˈsɑːl-/
FINANCE, ACCOUNTING, LAW not having enough money to pay debts, buy goods, etc.: be/become/be declared insolvent This May the firm was declared insolvent and its operations were shut down. Currently, companies must be insolvent in order to go into administration. The bank was technically insolvent - it listed assets of $16.5 million and liabilities of $18.5 million.
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(Definition of insolvent from the Cambridge Business English Dictionary © Cambridge University Press)
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