What is insolvent?

  • (noun): Someone who has insufficient assets to cover their debts.
    Synonyms: bankrupt
    See also — Additional definitions below

Some articles on insolvent:

Barker V Corus - Judgment
... should pick up the proportion of the damage for which the insolvent employers were responsible ... In other words, should a tortfeasor or a claimant bear the risk of the other tortfeasors going insolvent? The House of Lords accepted the argument that the solvent employer should not ... But now X and Y have gone insolvent, and Mr B is suing Z ...
Consumer Bankruptcy In Canada - Consumer Basic Concepts
... distinguish between legal definition of "insolvent person" and one of "bankrupt" ... Generally, an insolvent person is one who cannot pay his or her debts and may subsequently become bankrupt, either by assigning himself into bankruptcy, being petitioned into ... The person who is unable to pay his obligation is considered to be an insolvent person under the BIA ...
Re Produce Marketing Consortium Ltd (No 2) - Facts
... At the balance sheet date, the company was insolvent but the directors are confident that if the company continues to trade, it will be able to meet its liabilities.” The auditor said the company’s continuation ... Auditors warned of insolvent trading, if the bank did not give more credit ... In 1988 the liquidator asked David and Murphy why there was trading while insolvent ...
Consumer Bankruptcy In Canada - Bankruptcy Process - Initiation of The Bankruptcy Process
... by the individual's principal residence, are not more than $250,000, an insolvent debtor may file a consumer ("Division II") proposal with his creditors ... Prior to filing a Proposal under Division I, the insolvent individual may file a notice of intention to stay the creditors so that a Division I proposal can be filed with ... the consumer proposal is not a viable option, an insolvent person may either voluntarily assign himself into bankruptcy or be involuntarily petitioned into ...
Wrongful Trading - What Is Expected of Directors?
... the company beyond a point in time when they knew, or ought to have ascertained, that insolvent liquidation was inevitable ... date at which the company can be shown to be balance sheet insolvent, and then show why it was unreasonable for directors to continue to trade after this ... and contrary to many misconceptions, it is not an offence to trade a company while it is insolvent ...

More definitions of "insolvent":

  • (adj): Unable to meet or discharge financial obligations.
    Example: "An insolvent person"; "an insolvent estate"