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Insolvency |
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Insolvency A situation in which a person or company is unable to repay its debts. See also: Bankruptcy. Insolvency A financial condition in which a taxpayer's total liabilities (debts owed) exceed the total fair market value of all his or her assets (cash and other property). A taxpayer is insolvent to the extent his or her liabilities exceed his or her assets. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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