Insolvency is the inability to pay one’s debts when they fall due.
Insolvent individuals are bankrupted under the Bankruptcy Act 1966 (Cth) whereas insolvent companies are wound up under the… 1,544 more words
The last thing families want to deal with after the death of a loved one is a phone call reminding them of their departed’s debt. But that’s the case for a number of parents who have inherited the obligation to repay the student loans they co-signed for their deceased child.
Moody’s on Tuesday issued a warning that RadioShack’s turnaround plan may never come to fruition.
The credit ratings agency said that although the struggling electronics chain should have enough liquidity to make it through the current fiscal year, it is “increasing likely” it will run out of cash by the fiscal third quarter of 2015. 10 more words
Detroit was the nation’s third largest, calling itself the “motor city” after its primary economic activity: The world-leading U.S. auto industry. But now, GM makes more cars in China, Chrysler is a department of Fiat and world leaders lie Toyota and Honda make their U.S. 396 more words