Insolvenz
Die Firma hat Insolvenz angemeldet.
The company has filed for bankruptcy.
A legal state of being unable to pay one's debts, leading to a formal insolvency proceeding to liquidate assets or restructure debts.
Die Insolvenz wurde vom Gericht eröffnet.
The bankruptcy was opened by the court.
In Germany, insolvency proceedings are governed by the Insolvenzordnung (InsO).
A financial situation where liabilities exceed assets, often leading to the dissolution or restructuring of a company.
Die Insolvenz der Bank hat den Aktienmarkt erschüttert.
The bank's bankruptcy has shaken the stock market.
Insolvenz can also refer to personal bankruptcy in Germany.
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Pro Tip
Legal Context
In legal documents, 'Insolvenz' is often followed by 'verfahren' (proceedings).
Gold Rule
Formal vs. Informal
Use 'Insolvenz' in formal contexts and 'Pleite' in informal speech.
Word Origin
From Latin 'in' (not) + 'solvens' (paying), meaning 'not paying'.
Usage Notes
In German, 'Insolvenz' is a formal term used in legal and financial contexts. The informal term 'Pleite' is also common.