The company declared
insolvency after failing to pay its debts for several months.
该公司在数月未能偿还债务后宣布破产。
Insolvency can lead to a company being liquidated, with assets sold off to repay creditors.
破产可能导致公司被清算，资产被出售以偿还债权人。
The economic downturn has resulted in a surge of personal insolvencies across the country.
经济衰退导致全国个人破产数量激增。
Filing for bankruptcy is often the last resort for individuals facing insurmountable debt.
申请破产通常是个人面对无法克服的债务时的最后手段。
The small business struggled with cash flow issues and eventually had to close due to
insolvency.
这家小企业因现金流问题挣扎，最终因资不抵债而关闭。
Insolvency procedures vary from country to country, but typically involve a legal process to resolve debt.
破产程序各国不同，但通常涉及解决债务的法律程序。
After years of financial mismanagement, the once-thriving corporation was declared insolvent.
经过多年的财务管理不善，这家曾经繁荣的公司被宣布破产。
Insolvency doesn't necessarily mean the end of a business; restructuring and turnaround strategies can be implemented.
破产并不一定意味着企业的终结；可以实施重组和转危为安的策略。
The rise in insolvencies highlights the need for better financial education and support for entrepreneurs.
破产案件的增加凸显了对企业家进行更好的金融教育和支持的必要性。
Early detection of financial distress can prevent businesses from slipping into
insolvency.
早期发现财务困境可以防止企业陷入破产。
British Steel was being funded and managed by the Official Receiver, part of the UK Insolvency Service, after it declared insolvency in May 2019.
The completion of the deal saw the Chinese steelmaker acquire the company's United Kingdom and Netherlands assets, saving about 3,200 jobs after the company collapsed and was funded and run temporarily by the Official Receiver, part of the UK Insolvency Service, since it plunged into insolvency last May.
The purchase price was not disclosed but previous media reports suggested the Chinese company would pay 50 to 70 million pounds to British Steel, which was founded in 2016 when India's Tata Steel sold it to the private equity company Greybull Capital, before it entered insolvency less than three years ago and was placed in liquidation 10 months ago.
Insolvency documents filed by the company showed that the group was facing demands of almost 500 million pounds ($618 million) from hotel partners and other creditors.
Han Xiao, a lawyer with Beijing Kangda Law Firm, told International Financial News that if a creditor tries to pursue the bankruptcy of its debtor, they need to go through legal procedures, including providing proof relating to the claim and insolvency of the company.
In March, the company announced it had entered a form of insolvency known as a company voluntary agreement, or CVA, and closed 60 out of 593 stores in the UK.
Most of the funding is through conventional loans, which have long tenures, and in case of insolvency, will be subject to restructuring, he said.
Amid the turmoil of balance sheet insolvency, certain debtors may even don a cloak of secrecy, clandestinely shifting assets and eluding their debts.
The liquidity crisis may turn into an insolvency crisis, as some countries, including the United States, may face a peak of bankruptcies in the fourth quarter this year and in the first half of 2021, and the potential growth rate of the global economy will further decline, he said.
In cases where realty firms' illegal activities lead to insolvency and loss of operational capability, the ministry will follow legal and market-oriented principles in dealing with such enterprises, Dong said.
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