| 单词 | insolvency |
| 释义 | insolvency insolvency The inability to pay one’s debts when they fall due. In the case of individuals this may lead to bankruptcy and in the case of companies to liquidation. In both of these cases the normal procedure is for a specialist, a trustee in bankruptcy or a liquidator, to be appointed to gather and dispose of the assets of the insolvent and to pay the creditors. Insolvency does not always lead to bankruptcy and liquidation, although it often does. An insolvent person may have valuable assets that are not immediately realizable. |
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