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insolvent (adj) bankrupt.
An insolvent person does not have the money to clear their debts. They are bankrupt. A company which sustains huge losses and is unable to recover from them is insolvent. A person declared insolvent is penniless.
- Having invested too much in the losing concern, Jeremy lost all his money when the company became insolvent. The company is unable to repay even a small part of the shareholder’s investments.
- The insolvent businessman unable to bear the humiliation from his creditors committed suicide.