1. Can the business pay it's debts when they are called?
2. Does the business owe more (financially) than it owns?
3. Has the business been approached legally for financial reparations?
If any one of these is 'Yes' it is likely the business can be considered insolvent.
Answer courtesy of Forbes Burton - specialist in business closure.
can minor be insolvent
An insolvent estate is one with no value to it. The debts are greater than the assets. Therefore, it does not make sense to purchase an insolvent estate.
A bank that can not pay its account holders when they request payment is insolvent.
Insolvency
No. It can be wound up. In India, only individuals can be declared insolvent.
No. Nor is it insolvent.
insolvent
NO! A sovereign country with it's own currency cannot actually become insolvent in the way that a an individual, a household, or a corporation can.
The opposite of solvent is insolvent. Insolvent refers to a person or organization that is unable to pay debts owed.
Broke, bankrupt, penniless
An insolvent person is simpl someone whose liabilities far exceed their assets....they still controll the assets...like the money in a checking account
An insolvent estate is a the property of a deceased individual that has more debts than assets. Often the property must be sold to cover those debts.