Business / Accounting / Insolvent: A company is insolvent if it has insufficient funds (all of its assets) to pay its debts (all of its liabilities). If a company's liabilities are greater than its assets and it continues to trade, it is not only insolvent, but in the UK, is operating illegally (Insolvency act 1986).
Insolvent Adjective Synonyms: bankrupt, ruined, in receivership, penniless, impoverished, destitute, in Chapter Eleven, broke, wiped out, in the red, on the rocks, (gone) bust, gone to the wall, in Queer Street, skint
Business / Finance / Insured Bond: A bank or financial account that is insured for the benefit of the depositor, protecting against loss in the event that the savings institution becomes insolvent. See: FDIC. MORE
Business / Finance / Liquidator: Person appointed by an unsecured creditor in the United Kingdom to oversee the sale of an insolvent firm's assets and the repayment of its debts. MORE
Business / Finance / Sour Bond: A company's ability to satisfy its obligations to creditors when they are due. A company is 'technically insolvent' if it has enough assets to pay creditors, but cannot liquidate them quickly enough t MORE
Business / Finance / Accounting Insolvency: Total liabilities exceed total assets. A firm with a negative net worth is insolvent on the books. MORE
Business / Finance / Resolution Trust Corporation (RTC): A government agency established in 1989 and disbanded in 1996 that administered federal savings and loan institutions that were insolvent between 1989 and August 1992 by either bailing them out or mer MORE