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insolvencia

insolvency

noun een-sohl-BEN-syah Rare

Origin: From Latin in- (not) + solvens (paying).

Usage Note

Insolvencia is the legal and financial state of being unable to pay one's debts — broadly equivalent to English 'insolvency'. In Spanish law the formal process is concurso de acreedores rather than 'insolvency proceedings'. The adjective is insolvente, and like English 'insolvent' it can describe both a company and an individual.

Examples

"La empresa declaró su insolvencia ante el juzgado."

Natural Translation

The company declared its insolvency before the court.

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