Definition of insolvent in English:

insolvent

adjective

  • 1Unable to pay debts owed.

    ‘the company became insolvent’
    • ‘Face up to the problems, he was told, bankrupt insolvent companies and resolve the institutional debt problem.’
    • ‘Cancellation of debt income is not includable in income if the taxpayer is in bankruptcy, or to the extent the taxpayer is insolvent.’
    • ‘Accordingly the company was insolvent and unable to pay its debts.’
    • ‘This year, about 300 directors of 140 insolvent companies are facing restriction proceedings in the High Court.’
    • ‘He has so far taken significant steps against the directors of insolvent companies who fail to cancel out debts by following the appropriate liquidation route.’
    • ‘Many defined benefit funds are technically insolvent because Irish law lays down strict regulations on their valuation.’
    • ‘For much of the last fifty years the country's banks have operated as cashiers for often insolvent state enterprises, paying little attention to their ability to repay, and building up a mountain of bad debt.’
    • ‘Should the company become insolvent, a liquidator will be appointed to realise the assets of the company, to pay and settle its debts and to distribute any surplus among the various shareholders.’
    • ‘Unable to pay their dollar debts, most Turkish banks were technically insolvent.’
    • ‘In the UK, if directors continue to trade when their company is technically insolvent, they run the risk of being personally liable.’
    • ‘If one joint or joint and several debtor is insolvent, the loss resulting from his insolvency is spread equally among the solvent debtors.’
    • ‘This arrangement gives customers access to the source code if the vendor gets into trouble, usually if the vendor becomes insolvent or is unable to support the code.’
    • ‘Liquidator reports on 49 insolvent technology companies were sent to the Office of the Director of Corporate Enforcement last year.’
    • ‘This will increase the chances of the new combination making a successful bid for the assets of Daewoo, the remaining major Korean car builder, which is now insolvent and being sold off by its creditors.’
    • ‘China's banks are technically insolvent, with bad debts making up 45% of their loans, according to Standard & Poor's.’
    • ‘If the employer is insolvent and unable to restore the funds the pension scheme will be able to claim compensation.’
    • ‘Guaranteeing the debt of insolvent institutions and covering up the loss exposures this creates for a country's taxpayers is costly in three ways.’
    • ‘In the former, the set-off was to be executed by a third party, with whom both the creditor and the insolvent debtor maintained their accounts.’
    • ‘That's crucial: HITC is technically insolvent, and customers keep pulling funds.’
    • ‘One provision makes it easier for the Central Bank to force insolvent institutions into bankruptcy, giving investors and creditors a legal framework for recovering assets.’
    bankrupt, unable to pay one's debts, ruined, collapsed, defaulting, liquidated, wiped out
    View synonyms
    1. 1.1 Relating to insolvency.
      ‘insolvent liquidation’
      • ‘Section 214 of the Insolvency Act imposes that liability where the director knew, or ought to have concluded, that there was no reasonable prospect that the company would avoid going into insolvent liquidation.’
      • ‘When the property market went sour, the company's undertaking was sold by administrative receivers, and it went into insolvent liquidation in July 1993.’
      • ‘Shortly thereafter, the defendant bank went into insolvent liquidation.’
      • ‘Administration orders were made in respect of the principal companies in the Group in this court on 26 February 1995, and they have subsequently been placed in compulsory insolvent liquidation.’
      • ‘In the course of the proceedings Elko has gone into insolvent liquidation, with the result that this counterclaim can be ignored.’
      • ‘There will also be a restriction on the re-use by a former director of a company name when that company is in insolvent liquidation.’
      • ‘The share of insolvent liquidations remains at a low level by historical comparison.’
      • ‘We know there is a liquidation, we know there is an insolvent liquidation.’
      • ‘If it were to go into insolvent liquidation at that stage, the original directors of TMC would have committed no offence under section 207, because there would have been no transfer of TMC's property by them.’
      • ‘The section applies only where the company has reached the position that there is no reasonable prospect that the company will avoid insolvent liquidation.’
      • ‘VIB then went into insolvent liquidation on July 25, 1997 with a substantial deficiency.’
      • ‘The question is whether he knew or ought to have concluded at some time before the commencement of the winding up that there was no reasonable prospect that VKV would avoid going into insolvent liquidation.’
      • ‘In any event there is in this case a theoretical risk of loss undertaken by the Bank if JLPG, JLP and JL went into insolvent liquidation.’
      • ‘After setting out the facts of the case before him, and the scheme for the payment of debts in an insolvent liquidation, the Vice-Chancellor said this.’

noun

  • An insolvent person.

    • ‘This is to prevent an insolvent from transferring assets to their spouses to avoid the consequences of sequestration.’
    • ‘Others with a more monetary bent could base their entire philanthropic nature on this tale of a robbing rodent who swipes from the miserly and scats on the insolvent.’
    • ‘Since when did insolvents have the right to impose their failed prescriptions on flourishing entrepreneurs?’

Pronunciation

insolvent

/ɪnˈsɒlv(ə)nt/