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What does insolvency mean?

Looking for the meaning or definition of the word insolvency? Here's what it means.

Noun
  1. 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 business.
  2. Insufficiency to discharge all debts of the owner.
  3. The condition of having more debts than assets.
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Examples
That means we defend a winding-up application with no presumption of insolvency.
He went to see an insolvency practitioner and his accountants for advice on winding up the business.
Still throughout the eighteenth century, even the most liberal commentators did not entirely lift the stigma of dishonor from insolvency.
Under insolvency law, administrators are not obliged to honour vouchers bought before their appointment.
Putting aside the disappointment of Tesna's withdrawal, I think it's inevitable that the Unions will play active roles in insolvency processes.
The first alternative is a shortcut to insolvency, the second, a recipe for discontentment and civil unrest.

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