The legal state of insolvency is called
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When an individual or any organisation is unable to repay the money owed, then the state of being in this difficult situation is called insolvency. Furthermore, when a person or an organization is in the state of insolvency, they are called insolvent. There are two types of insolvencies –
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When an individual or any organisation is unable to repay the money owed, then the state of being in this difficult situation is called insolvency. Furthermore, when a person or an organization is in the state of insolvency, they are called insolvent.
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