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Bookmark or Share- insolvency | Wex | US Law | LII / Legal Information Instituteinsolvency. Generally speaking, insolvency refers to situations where a debtor cannot pay the debts they owe. For instance, a troubled company may become insolvent when it is unable to repay its creditors money owed on time, often leading to a bankruptcy filing. Nonetheless, the legal definition of insolvency is complicated and situational.
- Insolvencies: Definition, How It Works, and Contributing FactorsInsolvency is when an organization, or individual, can no longer meet its financial obligations with its lender or lenders as debts become due. Before an insolvent company, or person, gets ...
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