insolvency /; AmE / noun [U,C] (plural insolvencies)

(Accounting ; Law )

the state of not having enough money to pay what you owe:

The company is close to insolvency.

The government may support the firm, which said it could file for insolvency at any time.

a wave of corporate insolvencies

Its European carrier business is expected to start insolvency proceedings soon.

OPP SOLVENCY ⇨ BANKRUPTCY, INSOLVENT

❖ to face/file for/go into insolvency

◆ to avoid/be rescued from/stave off insolvency

◆ an insolvency expert/lawyer/specialist

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