insolvency
Loading your saved state.
insolvency
The legally established inability of a person or company to pay their debts, leading to the opening of court proceedings.
Die Baufirma musste nach dem Verlust eines Großauftrags Insolvenz anmelden.
The construction company had to file for insolvency after losing a major contract.
'Insolvenz' (insolvency) is often combined with certain verbs. A company can 'Insolvenz anmelden' (file for insolvency) or 'beantragen' (apply for it). You can also say that it 'geht in Insolvenz' (goes into insolvency).
Die Fluggesellschaft musste Insolvenz beantragen.
The airline had to file for insolvency.
Pay attention to the case after the preposition 'in'. 'In die Insolvenz gehen' describes the process (accusative), while 'in Insolvenz sein' describes the state (dative, often without an article).
Die Firma ist letztes Jahr in die Insolvenz gerutscht.
The company slipped into insolvency last year.
'Insolvenz' (insolvency) is a technical term from business and law. It is used in formal and official contexts when dealing with inability to pay debts.
Der Anwalt ist auf das Thema Insolvenz spezialisiert.
The lawyer specializes in the topic of insolvency.
bankruptcy / flop
'die Pleite' and 'die Insolvenz' can both mean that a person or company can no longer pay their debts. 'die Pleite' is colloquial and can generally mean financial collapse. 'die Insolvenz' is more precise and legal: it means that insolvency is officially established and court proceedings begin. The words are easy to confuse because they often talk about the same situation. In news reports, contracts, or dealings with authorities, 'Insolvenz' is more natural. In everyday life, people often simply say 'Pleite'.
Die Firma hat Insolvenz angemeldet, weil sie ihre Rechnungen nicht mehr bezahlen konnte.
The company filed for insolvency because it could no longer pay its bills.
Nach mehreren schlechten Monaten stand das kleine Geschäft kurz vor der Pleite.
After several bad months, the small business was on the verge of bankruptcy.