insolvency

[in-sol-vuhn-see]

noun

1. the condition of being insolvent; bankruptcy.

Word History and Origins

Origin of insolvency¹

First recorded in 1650–60; insolv(ent) + -ency

Example Sentences

A poll by insolvency trustee firm Harris & Partners found roughly 60% of respondents don’t feel financially prepared for Christmas and a little more than 70% aim to spend less than last year over the holidays.

Read more on The Wall Street Journal

Founded in Montreal, it operates thousands of rooms in over 40 cities, all of which will now be closing as the firm seeks insolvency proceedings in all territories it operates in.

Read more on BBC

Under the California Probate Code, the most common reasons include breach of trust, insolvency, unfitness and incompetence, hostility or deadlock, excessive and/or disqualification where the trustee becomes legally barred from serving.

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He apologized “unreservedly,” but was still forced to retire as chancellor of Cold Spring Harbor Laboratory, the Long Island, N.Y., institution he had rescued from the brink of insolvency decades earlier.

Read more on Los Angeles Times

Surging interest rates and labor costs provided the final blow, pushing many properties into insolvency.

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Related Words

• bankruptcy 
• breakdown 
• deterioration 
• implosion 
• inadequacy 
• rupture