insolvent
adjective
uk/ɪnˈsɒlvənt/ us/-ˈsɑːl-/ FINANCE, ACCOUNTING, LAW
not having enough money to pay debts, buy goods, etc.:
be/become/be declared insolvent This May the firm was declared insolvent and its operations were shut down.
Currently, companies must be insolvent in order to go into administration.
The bank was technically insolvent - it listed assets of $16.5 million and liabilities of $18.5 million.
Compare
solvent