Definition of suspend payment in English:

suspend payment

phrase

  • (of a company) cease to meet its financial obligations as a result of insolvency or insufficient funds.

    • ‘It followed that the debt, evidenced by the receipt, had not matured when the merchant suspended payment.’
    • ‘Wracked by civil wars, Mexico suspended payment on its international loans in 1861 and in retaliation a joint Anglo-Spanish-French force seized Vera Cruz.’