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insolvency |
Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia, Hutchinson | 0.01 sec. |
insolvencyCondition in which liabilities exceed assets so that creditors cannot be paid. It is a financial condition that often precedes bankruptcy. In the context of equity, insolvency is the inability to pay debts as they become due; insolvency under the balance-sheet approach means that total liabilities exceed total assets. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| It also includes special regional reports from Europe, Asia and Australia, and updates on agency and government policies that impact corporate insolvencies. For example, insolvencies triggered by Hurricane Andrew in the early 1990s resulted in nearly 25,000 unpaid claims totaling $500 million. Highlights include records retention and filing issues under Canadian tax laws; access to records under federal and provincial legislation; employment and other major workplace records; specialized information for specific organizations such as law and accounting firms; security and confidentiality of professional and business records; and records retention issues related to insolvencies. |
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