Outrageously Funny Word Dictionary :: Nonsolvency

👉 Nonsolvency refers to a situation where a company is unable to meet its financial obligations or liabilities, such as debts, taxes, or other payments. This can occur due to various reasons, including non-payment of interest on loans, failure to comply with tax regulations, bankruptcy proceedings, or other legal actions by creditors. Nonsolvency can have serious consequences for a company's business operations and financial health, leading to legal action, fines, and reputational damage.

nonsolvency