an insolvency
1Insolvency — means the inability to pay one s debts as they fall due. Usually used to refer to a business, insolvency refers to the inability of a company to pay off its debts. Business insolvency is defined in two different ways: Cash flow insolvency Unable… …
2insolvency — in·sol·ven·cy /in säl vən sē/ n pl cies 1: the fact or state of being insolvent compare bankruptcy 2: insufficiency (as of an estate) to discharge all enforceable debts ◇ Insolvency matters are covered under the Bankruptcy Code. Merriam …
3insolvency practitioner — An individual authorised under the Insolvency Act 1986 to act in insolvency matters, appointed either by a recognised professional body or relevant authority. Easyform Glossary of Law Terms. UK law terms. insolvency practitioner …
4Insolvency — In*sol ven*cy, n.; pl. {Insolvencies}. (Law) (a) The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and… …
5insolvency practitioner — inˈsolvency pracˌtitioner noun [countable] ACCOUNTING LAW in Britain, a person or organization that can by law act for a company that is declaring itself to be insolvent (= unable to pay its debts): • The company consulted an insolvency… …
6Insolvency Practitioners Tribunal — the tribunal to which an insolvency practitioner may appeal if served with a notice that the competent authority proposes to refuse or withdraw authorisation. Collins dictionary of law. W. J. Stewart. 2001 …
7insolvency — (see also bankruptcy and failure) another term used to describe a firm that is failing; generally it means that a firm s liabilities exceed its assets or that it is unable to satisfy its obligations as they come due. (Common Bankruptcy Terms)… …
8insolvency — 1660s; see INSOLVENT (Cf. insolvent) + CY (Cf. cy). Insolvence (1793) is rare …
9insolvency — [in säl′vən sē] n. pl. insolvencies the fact or condition of being insolvent; bankruptcy …
10Insolvency practitioner — In the United Kingdom, only an authorised or licensed Insolvency Practitioner (usually abbreviated to IP) may be appointed in relation to formal insolvency procedures. Quite often IPs have an accountancy background. A few active practitioners are …
