Insolvency definition: Copy, customize, and use instantly
Introduction
The term "Insolvency" refers to a financial state where an individual or entity is unable to meet its debt obligations when they are due. Insolvency can occur when liabilities exceed assets, or when a person or company cannot pay debts in full or on time. It is an important legal concept often leading to bankruptcy proceedings or restructuring to resolve outstanding financial obligations.
Below are various examples of how "Insolvency" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Insolvency" as the condition in which an individual or business is unable to pay off its debts as they come due, or when its liabilities exceed its assets
This definition ties "Insolvency" to debt obligations and financial imbalance.
"Insolvency" refers to the condition in which an individual or business is unable to pay off its debts as they come due, or when its liabilities exceed its assets, creating a situation where the debtor cannot meet financial obligations.
Definition of "Insolvency" as the state in which a person or company’s liabilities surpass their assets, and they are unable to fulfill financial obligations without outside intervention, such as bankruptcy
This definition connects "Insolvency" to bankruptcy and financial intervention.
"Insolvency" refers to the state in which a person or company’s liabilities surpass their assets, and they are unable to fulfill financial obligations without outside intervention, such as bankruptcy or restructuring procedures.
Definition of "Insolvency" as a financial condition where an entity is unable to pay its debts as they become due, often leading to the initiation of bankruptcy proceedings or restructuring
This definition ties "Insolvency" to financial difficulties and legal processes.
"Insolvency" refers to a financial condition where an entity is unable to pay its debts as they become due, often leading to the initiation of bankruptcy proceedings or restructuring to resolve outstanding obligations.
Definition of "Insolvency" as a financial state in which a person or business cannot meet its debt payments, often resulting in legal action, including liquidation or debt restructuring
This definition connects "Insolvency" to legal actions.
"Insolvency" refers to a financial state in which a person or business cannot meet its debt payments, often resulting in legal action, including liquidation, debt restructuring, or other formal insolvency procedures.
Definition of "Insolvency" as a situation where an individual or organization’s debts exceed its assets, rendering it incapable of paying creditors and leading to potential bankruptcy or court proceedings
This definition ties "Insolvency" to excess debts and legal outcomes.
"Insolvency" refers to a situation where an individual or organization’s debts exceed its assets, rendering it incapable of paying creditors and leading to potential bankruptcy, liquidation, or court-supervised proceedings.
Definition of "Insolvency" as the inability to pay debts as they become due, either because of insufficient cash flow or because liabilities exceed assets, triggering legal processes like restructuring or liquidation
This definition connects "Insolvency" to cash flow issues and legal processes.
"Insolvency" refers to the inability to pay debts as they become due, either because of insufficient cash flow or because liabilities exceed assets, triggering legal processes like restructuring, debt negotiations, or liquidation.
Definition of "Insolvency" as the financial condition where an entity's liabilities exceed its assets, and the entity is unable to meet its obligations without restructuring or liquidation
This definition ties "Insolvency" to the need for restructuring.
"Insolvency" refers to the financial condition where an entity's liabilities exceed its assets, and the entity is unable to meet its obligations without restructuring, refinancing, or liquidation to resolve the situation.
Definition of "Insolvency" as the situation in which an entity is unable to pay its debts when due, due to insufficient assets or cash flow, often requiring formal proceedings such as bankruptcy
This definition connects "Insolvency" to insufficient cash flow and formal proceedings.
"Insolvency" refers to the situation in which an entity is unable to pay its debts when due, due to insufficient assets or cash flow, often requiring formal proceedings such as bankruptcy, debt negotiation, or restructuring to resolve.
Definition of "Insolvency" as a financial state in which a business or individual is unable to meet its debt obligations, leading to potential liquidation, bankruptcy filing, or restructuring under law
This definition ties "Insolvency" to liquidation and bankruptcy filings.
"Insolvency" refers to a financial state in which a business or individual is unable to meet its debt obligations, leading to potential liquidation, bankruptcy filing, or restructuring under law, depending on the circumstances.
Definition of "Insolvency" as the financial condition in which an individual or company is unable to pay off its debts, often leading to legal action such as bankruptcy or liquidation
This definition ties "Insolvency" to legal actions like bankruptcy.
"Insolvency" refers to the financial condition in which an individual or company is unable to pay off its debts, often leading to legal action such as bankruptcy, liquidation, or restructuring to resolve the financial situation.
Definition of "Insolvency" as a state in which a business or individual’s liabilities exceed their assets, preventing them from meeting their financial obligations without external intervention
This definition connects "Insolvency" to liabilities exceeding assets.
"Insolvency" refers to a state in which a business or individual’s liabilities exceed their assets, preventing them from meeting their financial obligations without external intervention, such as bankruptcy filings or creditor negotiations.
Definition of "Insolvency" as the situation where a debtor is unable to pay its outstanding debts as they come due, often leading to the need for bankruptcy or a debt workout process
This definition links "Insolvency" to debt and bankruptcy proceedings.
"Insolvency" refers to the situation where a debtor is unable to pay its outstanding debts as they come due, often leading to the need for bankruptcy or a debt workout process, which may include restructuring or liquidation.
Definition of "Insolvency" as a condition where an individual or company can no longer meet its financial obligations, triggering legal processes such as liquidation, restructuring, or formal bankruptcy proceedings
This definition connects "Insolvency" to triggering legal processes.
"Insolvency" refers to a condition where an individual or company can no longer meet its financial obligations, triggering legal processes such as liquidation, restructuring, or formal bankruptcy proceedings to resolve the issue.
Definition of "Insolvency" as the state in which a party’s financial obligations exceed their available assets or cash flow, often requiring external financial solutions like bankruptcy or debt restructuring
This definition ties "Insolvency" to cash flow issues and financial solutions.
"Insolvency" refers to the state in which a party’s financial obligations exceed their available assets or cash flow, often requiring external financial solutions like bankruptcy, debt restructuring, or insolvency proceedings.
Definition of "Insolvency" as the financial situation in which a company or individual cannot pay their debts when they are due, potentially leading to formal legal proceedings like bankruptcy, liquidation, or restructuring
This definition connects "Insolvency" to formal legal proceedings.
"Insolvency" refers to the financial situation in which a company or individual cannot pay their debts when they are due, potentially leading to formal legal proceedings like bankruptcy, liquidation, or restructuring to address the issue.
Definition of "Insolvency" as the financial condition where an entity’s total liabilities exceed its assets, and it is unable to meet its debt obligations without outside intervention, such as bankruptcy or restructuring
This definition ties "Insolvency" to total liabilities and outside intervention.
"Insolvency" refers to the financial condition where an entity’s total liabilities exceed its assets, and it is unable to meet its debt obligations without outside intervention, such as bankruptcy or restructuring under the law.
Definition of "Insolvency" as a financial state in which an entity cannot pay its debts as they become due, often leading to bankruptcy proceedings, liquidation, or creditor agreements
This definition connects "Insolvency" to financial difficulties and creditor agreements.
"Insolvency" refers to a financial state in which an entity cannot pay its debts as they become due, often leading to bankruptcy proceedings, liquidation, or creditor agreements to resolve the situation.
Definition of "Insolvency" as the state of financial failure in which an individual or company’s liabilities surpass its available resources, necessitating legal procedures like debt restructuring or insolvency filings
This definition ties "Insolvency" to financial failure and legal procedures.
"Insolvency" refers to the state of financial failure in which an individual or company’s liabilities surpass its available resources, necessitating legal procedures like debt restructuring or insolvency filings to resolve financial obligations.
Definition of "Insolvency" as a financial state where a person or business cannot meet its financial obligations, leading to the potential for formal proceedings like bankruptcy, liquidation, or debt restructuring
This definition connects "Insolvency" to the potential for formal proceedings.
"Insolvency" refers to a financial state where a person or business cannot meet its financial obligations, leading to the potential for formal proceedings like bankruptcy, liquidation, or debt restructuring to address the financial difficulties.
Definition of "Insolvency" as a condition in which liabilities exceed assets, preventing the entity from paying debts when due, often requiring intervention such as restructuring or liquidation
This definition links "Insolvency" to liabilities exceeding assets.
"Insolvency" refers to a condition in which liabilities exceed assets, preventing the entity from paying debts when due, often requiring intervention such as restructuring or liquidation to manage or resolve the situation.
Definition of "Insolvency" as a financial circumstance where a company or individual’s liabilities are greater than their assets, resulting in the inability to fulfill debt obligations without legal or financial restructuring
This definition connects "Insolvency" to financial restructuring.
"Insolvency" refers to a financial circumstance where a company or individual’s liabilities are greater than their assets, resulting in the inability to fulfill debt obligations without legal or financial restructuring, such as bankruptcy or insolvency proceedings.
Definition of "Insolvency" as a state where an individual or company is unable to pay its debts when they are due, leading to the need for bankruptcy proceedings or financial restructuring
This definition connects "Insolvency" to financial restructuring and bankruptcy.
"Insolvency" refers to a state where an individual or company is unable to pay its debts when they are due, leading to the need for bankruptcy proceedings or financial restructuring to address the outstanding obligations.
Definition of "Insolvency" as the financial situation where a party’s liabilities exceed its assets and it cannot meet its debt obligations, often requiring legal intervention such as bankruptcy or insolvency restructuring
This definition ties "Insolvency" to legal intervention and asset liabilities.
"Insolvency" refers to the financial situation where a party’s liabilities exceed its assets and it cannot meet its debt obligations, often requiring legal intervention such as bankruptcy or insolvency restructuring to resolve the debt.
Definition of "Insolvency" as the inability to pay debts when they are due due to insufficient assets or cash flow, potentially resulting in bankruptcy, restructuring, or other formal insolvency proceedings
This definition connects "Insolvency" to cash flow issues and formal proceedings.
"Insolvency" refers to the inability to pay debts when they are due due to insufficient assets or cash flow, potentially resulting in bankruptcy, restructuring, or other formal insolvency proceedings to address the financial crisis.
Definition of "Insolvency" as a state in which a business or individual is unable to satisfy debt obligations, requiring formal intervention such as liquidation, debt restructuring, or bankruptcy filings
This definition ties "Insolvency" to debt obligations and formal interventions.
"Insolvency" refers to a state in which a business or individual is unable to satisfy debt obligations, requiring formal intervention such as liquidation, debt restructuring, or bankruptcy filings to resolve financial challenges.
Definition of "Insolvency" as a condition where an entity's liabilities exceed its assets, and it is unable to fulfill its financial commitments, often resulting in the need for formal insolvency proceedings
This definition connects "Insolvency" to the inability to fulfill financial commitments.
"Insolvency" refers to a condition where an entity's liabilities exceed its assets, and it is unable to fulfill its financial commitments, often resulting in the need for formal insolvency proceedings such as bankruptcy or restructuring.
Definition of "Insolvency" as a financial condition in which the outstanding debts of an entity or individual cannot be paid in full or on time, leading to the need for legal proceedings like bankruptcy or insolvency resolution
This definition ties "Insolvency" to legal proceedings and debt resolution.
"Insolvency" refers to a financial condition in which the outstanding debts of an entity or individual cannot be paid in full or on time, leading to the need for legal proceedings like bankruptcy or insolvency resolution processes.
Definition of "Insolvency" as the financial state in which an individual or organization cannot meet its debt obligations, often triggering legal proceedings such as bankruptcy, liquidation, or restructuring
This definition ties "Insolvency" to legal proceedings and the inability to meet debt obligations.
"Insolvency" refers to the financial state in which an individual or organization cannot meet its debt obligations, often triggering legal proceedings such as bankruptcy, liquidation, or restructuring to resolve the outstanding financial issues.
Definition of "Insolvency" as the condition where a business or individual’s debts exceed their assets, resulting in the inability to pay off financial obligations and potentially leading to bankruptcy or restructuring
This definition connects "Insolvency" to debts exceeding assets and bankruptcy.
"Insolvency" refers to the condition where a business or individual’s debts exceed their assets, resulting in the inability to pay off financial obligations and potentially leading to bankruptcy or restructuring to address the liabilities.
Definition of "Insolvency" as a situation where an entity’s total liabilities surpass its total assets, and it becomes unable to satisfy debt payments without the assistance of bankruptcy or legal restructuring
This definition ties "Insolvency" to the need for bankruptcy or restructuring.
"Insolvency" refers to a situation where an entity’s total liabilities surpass its total assets, and it becomes unable to satisfy debt payments without the assistance of bankruptcy, insolvency proceedings, or legal restructuring.
Definition of "Insolvency" as a financial state in which a business or individual is unable to pay debts as they become due, leading to potential bankruptcy proceedings or the need for financial restructuring
This definition links "Insolvency" to financial difficulties and restructuring.
"Insolvency" refers to a financial state in which a business or individual is unable to pay debts as they become due, leading to potential bankruptcy proceedings or the need for financial restructuring to address the financial shortfall.
Definition of "Insolvency" as the condition where liabilities exceed assets, resulting in an inability to pay outstanding debts, often requiring formal legal action such as bankruptcy or restructuring to resolve
This definition connects "Insolvency" to liabilities and legal actions.
"Insolvency" refers to the condition where liabilities exceed assets, resulting in an inability to pay outstanding debts, often requiring formal legal action such as bankruptcy or restructuring to resolve the issue and restructure obligations.
Definition of "Insolvency" as a state in which an individual or company cannot pay its debts when they are due, usually resulting in bankruptcy, liquidation, or other legal solutions for debt resolution
This definition links "Insolvency" to debt resolution and legal solutions.
"Insolvency" refers to a state in which an individual or company cannot pay its debts when they are due, usually resulting in bankruptcy, liquidation, or other legal solutions for debt resolution or financial restructuring.
Definition of "Insolvency" as the condition in which a debtor is unable to fulfill financial obligations due to a lack of sufficient assets or cash flow, typically leading to legal action such as bankruptcy proceedings
This definition connects "Insolvency" to cash flow issues and legal action.
"Insolvency" refers to the condition in which a debtor is unable to fulfill financial obligations due to a lack of sufficient assets or cash flow, typically leading to legal action such as bankruptcy proceedings, creditor negotiations, or debt restructuring.
Definition of "Insolvency" as a financial condition where a business or individual is unable to meet its debt obligations, often leading to the initiation of bankruptcy filings, court orders, or liquidation proceedings
This definition links "Insolvency" to bankruptcy filings and court orders.
"Insolvency" refers to a financial condition where a business or individual is unable to meet its debt obligations, often leading to the initiation of bankruptcy filings, court orders, or liquidation proceedings to resolve the financial crisis.
Definition of "Insolvency" as a financial situation where an individual or organization’s liabilities exceed their ability to pay, leading to the need for legal proceedings, including debt restructuring or bankruptcy
This definition ties "Insolvency" to the need for legal proceedings.
"Insolvency" refers to a financial situation where an individual or organization’s liabilities exceed their ability to pay, leading to the need for legal proceedings, including debt restructuring, bankruptcy, or other financial resolutions under the law.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.