insolvent

3 definitions • 4 examples

(especially of a company) not having enough money to pay debts, buy goods, etc.

(esp. of a company) unable to pay what you owe because you do not have enough money:

When it discovered the loans could not be repaid, the bank became insolvent.

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.