insolvency

Meanings

• noun

  The inability to pay debts as they become due or the state of being unable to pay one's debts.

  - "John's business declared insolvency and was forced to liquidate."
  - "The insolvency of the company led to a financial crisis for its shareholders."

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Antonyms

solvency

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Rhymes

Words rhyming with insolvency
solvency , relevancy , relativity

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Variants

List of all variants of insolvency that leads to same result
insolvencies , insolvency

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Etymology

origin and the way in which meanings have changed throughout history.

Derived from the Latin word 'insolvens', meaning unable to pay one's debts.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Insolvency is not the same as bankruptcy, but the two are closely related. Insolvency is the state of being unable to pay debts, while bankruptcy is the legal process by which a debtor's assets are liquidated and distributed among creditors.

2. The first recorded use of the term 'insolvency' was in 1542.

3. Insolvency can lead to a loss of reputation and trust, making it difficult for individuals or businesses to recover financially even after they have been restructured or discharged from bankruptcy.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Bankruptcy: A legal process where an individual or business is unable to repay their debts and seeks protection from their creditors.

2. Restructuring: A process of reorganizing a company's debt and assets to improve its financial health and long-term viability.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Insolvency is a significant concept in business and finance, often leading to bankruptcy and restructuring. It has been the subject of numerous literary works, including 'The Great Gatsby' by F. Scott Fitzgerald and 'The Fountainhead' by Ayn Rand.

How to Memorize "insolvency"

1. visualize
   

   - Imagine a person or business drowning in debt and unable to pay their creditors. Visualize the stress and anxiety that comes with this situation.

2. associate
   

   - Associate the word 'insolvency' with the feeling of financial instability and the inability to meet one's financial obligations.

3. mnemonics
   

   - Use the mnemonic 'Inability to Solve On-going Liabilities' to remember the meaning of insolvency.

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