insolvency
Pronunciation:
[ɪnˈsɒlvn̩si]noun
Definitions
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.
Example: The company faces insolvency.
Insufficiency to discharge all debts of the owner.
Example: the insolvency of an estate
The condition of having more debts than assets.