Insolvency
Incapacity to pay debts upon the date they become due. Insolvency can lead to formal insolvency proceedings, in which legal action will be taken against the insolvent entity, and assets may be liquidated to pay off outstanding debts.
Incapacity to pay debts upon the date they become due. Insolvency can lead to formal insolvency proceedings, in which legal action will be taken against the insolvent entity, and assets may be liquidated to pay off outstanding debts.