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What does insolvency mean?

Looking for the meaning or definition of the word insolvency? Here's what it means.

Noun
  1. The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business.
  2. Insufficiency to discharge all debts of the owner.
  3. The condition of having more debts than assets.
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Examples
Cooney sells equipment for a number of Dublin insolvency practitioners who deal with technology company receiverships or liquidations.
Still throughout the eighteenth century, even the most liberal commentators did not entirely lift the stigma of dishonor from insolvency.
The first alternative is a shortcut to insolvency, the second, a recipe for discontentment and civil unrest.
Still, the property companies are not heavily leveraged and no major case of insolvency seems imminent.
Putting aside the disappointment of Tesna's withdrawal, I think it's inevitable that the Unions will play active roles in insolvency processes.
Your assets are seized and managed by an accountant specialising in insolvency.

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