Börsenlexikon: Insolvenz

Insolvency refers to the situation of a debtor being unable to meet his payment obligations to the creditor. Insolvency is characterised by acute insolvency, imminent insolvency (lack of liquidity) or over-indebtedness. In Switzerland, the term bankruptcy refers to the meeting of creditors for the judicial division of a debtor's assets. The word bankruptcy is sometimes used in reference to the English term bankruptcy. In addition, the word "bankruptcy" is used in colloquial language, which, like bankruptcy, has a strong negative connotation.