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insolvent

adjective

/ɪnˈsɒlv(ə)nt/

IPA:

Dictionary definition of insolvent

Unable to pay debts or meet one's financial obligations when they are due.
"The company was declared insolvent and went bankrupt."

Detailed meaning of insolvent

It refers to a state of financial distress in which someone's liabilities exceed their assets or income, and they are unable to pay their bills or meet their financial obligations. For example, a company might become insolvent if it cannot generate enough revenue to cover its expenses or pay its creditors. Alternatively, an individual might become insolvent if they have accumulated too much debt or experienced a sudden loss of income. The adjective "insolvent" suggests a sense of financial instability or crisis, and implies that someone is facing significant challenges in meeting their financial obligations. It is often used in discussions of finance, accounting, and business, where the ability to pay debts and manage financial risks is critical to success.

Example sentences containing insolvent

1. He was personally insolvent and couldn't pay his debts.
2. She was forced to declare insolvency after her business failed.
3. The bank was declared insolvent and taken over by the government.
4. He was accused of mismanaging funds and making the company insolvent.
5. She struggled to make ends meet as she became insolvent after losing her job.
6. The country was facing an economic crisis, as many of its citizens were insolvent.

History and etymology of insolvent

The adjective 'insolvent' has its etymological roots in Latin and Middle English. It is derived from the Latin word 'in' (meaning 'not') and 'solvēre' (meaning 'to loosen' or 'to pay'). In the context of finance, 'solvēre' referred to the act of paying debts. Over time, this Latin term transitioned into Middle English as 'insolvent,' describing a person or entity that is unable to 'loosen' or pay off their debts or meet financial obligations when they come due. The etymology of 'insolvent' aptly conveys the idea of financial inability or incapacity to settle debts, underscoring its role as an adjective used to describe individuals or entities facing financial distress or bankruptcy due to an inability to meet their financial commitments.

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Further usage examples of insolvent

1. He was unable to pay his bills and was declared insolvent by the court.
2. She was forced to sell her assets as she became insolvent after the stock market crash.
3. The company was found to be insolvent due to a lack of revenue.
4. He was declared insolvent after his investments went bad.
5. The small business owner was declared insolvent after the pandemic hit.
6. Despite their best efforts, the business remained insolvent, unable to cover its debts and operational costs.
7. The family faced a dire financial situation, rendering them insolvent and on the brink of losing their home.
8. The company's insolvency was a result of poor financial management and a sharp decline in sales.
9. In the face of insolvency, the CEO had to make the difficult decision to lay off a significant portion of the workforce.
10. The once-prosperous restaurant struggled to attract customers and fell into insolvency, ultimately closing its doors.
11. The government stepped in to bail out the insolvent bank, preventing a potential financial crisis.
12. John's insolvency forced him to sell off his assets, including his beloved vintage car collection.
13. Insolvency proceedings can be complex, involving negotiations with creditors and potential asset liquidation.
14. The construction industry faced a wave of insolvencies as many projects came to a halt during the economic downturn.
15. The business owner's reckless spending habits contributed to the company's insolvency.
16. The insolvency of the airline resulted in the cancellation of numerous flights and the inconvenience of travelers.
17. Creditors filed a lawsuit against the insolvent debtor to recover their outstanding loans.
18. The insolvency crisis highlighted the need for stricter financial regulations and oversight.
19. She was devastated by the sudden insolvency of the nonprofit organization she had dedicated years to.
20. Personal insolvency can have lasting consequences on one's credit and financial future.
21. The company's insolvency led to a scramble to find a buyer who could salvage its assets and operations.
22. Despite facing insolvency, the business owner remained hopeful about turning things around with a new strategy.
23. The government implemented measures to prevent the insolvency of critical infrastructure projects.
24. Insolvency can be a challenging and emotionally taxing experience, requiring legal and financial assistance.
25. The board of directors convened an emergency meeting to address the imminent insolvency of the company.

GRE 11 (Graduate Record Examination), Challenges and Distress, Consequences and Reactions, Problems and Conundrums, Commitment and Responsibility, Compensation and Rewards, Demanding and Challenging, Money and Finance

impoverished

bankrupt,broke,bust,failed,indebted,penniless,ruined,strapped