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Insolvency Meaning in English

word

释义

The state of being unable to pay debts when they are due, often leading to legal or official action like bankruptcy.

用法与细微差别

'Insolvency' is formal and mostly used in legal, business, or financial contexts. It's not the same as 'bankruptcy' (which is an official legal process); 'insolvency' refers to the financial state, while 'bankruptcy' is the legal outcome. Use 'file for insolvency' or 'declare insolvency' in news or formal contexts.