became insolvent

USAGE SUMMARY

The phrase "became insolvent" is correct and usable in written English.
It can be used in financial contexts to describe a situation where an individual or organization can no longer meet their financial obligations. Example: "After several years of declining sales, the company finally became insolvent and had to file for bankruptcy."

✓ Grammatically correct

News & Media

Encyclopedias

Wiki

Human-verified examples from authoritative sources

Exact Expressions

56 human-written examples

In 2010, the Greek state became insolvent.

The Guardian - Opinion

That case foundered in 1998 when Inkombank became insolvent.

The New York Times

Numerous banks became insolvent, and millions of citizens lost their life savings.

Encyclopedia Britannica

Hundreds of S.& L.'s failed, and their insurer became insolvent.

The New York Times

The distribution business, Brown & Bryant, later became insolvent and ceased operations.

The New York Times

In 2002, six members of the National Tour Association became insolvent.

The New York Times - Travel

The CME Trust was established in 1969 to provide financial assistance to customers if a brokerage became insolvent.

The New York Times

Some of these banks became insolvent almost overnight, but were forced to limp on until they could no longer stand.

The Economist

Human-verified similar examples from authoritative sources

Similar Expressions

3 human-written examples

The company warned it might become insolvent.

The Economist

When liquidity vanishes, banks quickly become insolvent.

The Economist

In a protracted liquidity crisis, the solvent become insolvent.

The Economist

Expert writing Tips

Best practice

When describing a company's financial state, ensure you use "became insolvent" accurately to reflect the point when it could no longer meet its financial obligations. This is distinct from merely struggling financially.

Common error

Avoid using "became insolvent" to describe a business experiencing temporary cash flow problems. Insolvency signifies a more profound and likely irreversible state of financial distress.

Linguistic Context

The phrase "became insolvent" functions as a verb phrase indicating a state of financial failure. Ludwig AI examples illustrate its usage in various contexts, from describing businesses to financial systems experiencing inability to meet their obligations.

Expression frequency: Very common

Frequent in

News & Media

75%

Wiki

14%

Encyclopedias

6%

Less common in

Science

3%

Formal & Business

2%

Social Media

0%

Ludwig's WRAP-UP

The phrase "became insolvent" is a commonly used and grammatically correct way to describe a state of financial failure. Ludwig AI confirms its validity, showcasing its usage across various reputable sources like The New York Times and The Economist. While alternatives such as "went bankrupt" or "filed for bankruptcy" exist, "became insolvent" maintains a formal tone suitable for news, business, and legal contexts. Remember to use it accurately to indicate a definitive inability to pay debts, differentiating it from temporary financial difficulties.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

went bankrupt

A more common and direct way to state that a business or person is unable to pay their debts.

filed for bankruptcy

Focuses on the legal action taken when becoming insolvent.

became bankrupt

Similar to "went bankrupt" but slightly more formal.

failed financially

A more general term indicating a lack of financial success, potentially leading to insolvency.

collapsed financially

Emphasizes a sudden and dramatic financial failure.

became unable to pay its debts

Explains the reason for insolvency in detail.

was declared insolvent

Highlights that a formal declaration of insolvency has been made.

entered receivership

Specifies that the insolvent entity is now managed by a receiver.

succumbed to insolvency

A more figurative way of expressing financial failure.

experienced financial ruin

Emphasizes the devastating consequences of insolvency.

FAQs

What's the difference between "became insolvent" and "went bankrupt"?

While both indicate financial distress, "became insolvent" is a broader term referring to the inability to pay debts, while "went bankrupt" specifically refers to the legal process of bankruptcy.

When is it appropriate to use the phrase "became insolvent"?

Use "became insolvent" when an individual or organization is unable to pay their debts when they are due. It indicates a state of financial distress beyond temporary cash flow problems.

What are some alternatives to using "became insolvent" in a sentence?

Depending on the context, you could use alternatives like "filed for bankruptcy", "failed financially", or "entered receivership". Each alternative emphasizes a different aspect of the financial failure.

Is "became insolvent" a formal or informal phrase?

"Became insolvent" is generally considered a neutral to formal phrase suitable for business, news, and legal contexts. More informal alternatives exist, but this phrase is widely accepted.