Company Insolvency
/ˈkʌmpəni ɪnˈsɒlvənsi/
Definitions
- (n.) The legal status of a company unable to pay its debts as they fall due, often leading to formal insolvency proceedings such as administration or liquidation.
The company insolvency triggered a creditors' meeting to decide the future of the business.
Forms
- company insolvency
Related terms
See also
Commentary
The term is typically used in the context of corporate law and insolvency proceedings; precise meaning may vary by jurisdiction but centers on the inability to meet financial obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.