Insolvency

{
  "id": "MLC-T-LAW-002654",
  "term": "Insolvency",
  "field": "Law",
  "definition": "A financial state where an individual or entity is unable to pay their debts as they become due, or when their liabilities exceed the fair market value of their assets. This condition can lead to bankruptcy proceedings, where assets are liquidated or reorganized to satisfy creditors. Insolvency is a key trigger for bankruptcy filings under federal law.",
  "url": "https://mlchart.com/terminology/law/insolvency/"
}