become insolvent
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insolvent liquidation — Insolvency means being unable to pay your debts. For a company, this essentially means that there is a deficit in your balance sheet; your tangible assets are less than your liabilities, and your business does not generate sufficient surplus… … Law dictionary
insolvent — (1) The inability to pay ones debts as they come due. (2) When one s liabilities exceed the value of one s assets. An exemption under state or federal law which protects all or a portion of the homestead (SA Bankruptcy.com) Inability of a person… … Glossary of Bankruptcy
insolvent — [in säl′vənt] adj. 1. not solvent; unable to pay debts as they become due; bankrupt 2. not enough to pay all debts [an insolvent inheritance] 3. of insolvents or insolvency n. an insolvent person … English World dictionary
insolvent person — A person who is not bankrupt and whose liabilities exceed his assets and/or ability to pay. The BIA contains a statutory definition that differs from this general definition as follows: means a person who is not bankrupt and who resides or… … Glossary of Bankruptcy
insolvent — (adj.) 1590s, unable to pay one s debts, from IN (Cf. in ) (1) not + L. solventem paying (see SOLVENT (Cf. solvent)). Originally of one who was not a trader; only traders could become bankrupt … Etymology dictionary
Insolvent — A firm that is unable to pay debts (liabilities are greater than assets). The New York Times Financial Glossary * * * insolvent in‧sol‧vent [ɪnˈsɒlvənt ǁ ɪnˈsɑːl ] adjective ACCOUNTING LAW a person or company that is insolvent does not have… … Financial and business terms
insolvent — A firm that is unable to pay debts (its liabilities ( liability) exceed its assets). Bloomberg Financial Dictionary * * * insolvent in‧sol‧vent [ɪnˈsɒlvənt ǁ ɪnˈsɑːl ] adjective ACCOUNTING LAW a person or company that is insolvent does not have… … Financial and business terms
insolvent — Characterizing a person who either has ceased to pay his debts in the ordinary course of business, cannot pay his debts as they become due, or is insolvent within the meaning of the Federal Bankruptcy Act. UCC § 1 201(24). One in a condition of… … Ballentine's law dictionary
Trading while insolvent — is unlawful in a number of legal systems, and may result in the directors becoming personally liable for a company s assets. Under UK insolvency law trading once a company is legally insolvent can trigger several provisions of the Insolvency Act… … Wikipedia
Trading while insolvent (UK) — In many legal systems, once a company becomes insolvent, the directors have to take particular care. Under UK law, trading while insolvent can trigger several provisions under the Insolvency Act 1986 which may have the effect of making directors… … Wikipedia
