insolvency
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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
Pleite and Insolvenz can both refer to a company’s financial collapse. Pleite is a colloquial and often imprecise term. Insolvenz more precisely refers to legally established insolvency, which leads to court proceedings.
Das Gericht eröffnet das Verfahren wegen der Insolvenz der kleinen Bäckerei.
The court opens proceedings because of the small bakery’s insolvency.
Die Nachbarn sprechen über die Pleite der kleinen Bäckerei.
The neighbors are talking about the small bakery’s bankruptcy.
