What Is Insolvency?
By definition, insolvency is the inability to pay a debt when it is due, and most businesses dread the thought of becoming insolvent. Running a business isn't all about earning money and spending the profits; it's also about being able to pay back the human beings and institutions that helped commence your business, and of direction to pay your creditors in a timely manner. Insolvency falls under two categories. The first one is cash flow insolvency, which happens when a business cannot pay its debts on age.
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