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insolvency

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noun in·sol·ven·cy \(ˌ)in-ˈsäl-vən(t)-sē, -ˈsȯl-\

Definition of insolvency

  1. :  the fact or state of being insolvent :  inability to pay debts



Examples of insolvency in a sentence

  1. <unless the economy improves, many resorts in the area face insolvency>



1660

First Known Use of insolvency

1660


Law Dictionary

insolvency

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noun in·sol·ven·cy \in-ˈsäl-vən-sē\

Legal Definition of insolvency

plural insolvencies

  1. 1 :  the fact or state of being insolvent — compare bankruptcy

  2. 2 :  insufficiency (as of an estate) to discharge all enforceable debts



Additional Notes on insolvency

Insolvency matters are covered under the Bankruptcy Code.



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