gone insolvent

USAGE SUMMARY

The phrase "gone insolvent" is correct and usable in written English.
It can be used to describe a situation where a company or individual is unable to meet their financial obligations and has declared bankruptcy. Example: "After several years of financial struggles, the company has finally gone insolvent and will be liquidating its assets."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

1 human-written examples

It would have been a different story had Fannie Mae and Freddie Mac gone insolvent, two entities China was heavily invested in, but for now they've avoided the major bank problems of the West.

Forbes

Human-verified similar examples from authoritative sources

Similar Expressions

59 human-written examples

The hospitality industry is also seeing an increasing amount of businesses go insolvent," he said.

The Guardian - Business

If a company's plan goes insolvent, the government will step in and take over the payments.

The New York Times

If there was no alternative, a country using the euro should be allowed to go insolvent, meaning hundreds of billions in losses for international banks and other creditors.

The Guardian

A study by accountants Moore Stephens found that 153 estate agency firms went insolvent in the year to May 2018, a small increase on the 148 the year before.

The Guardian - Business

Indiana's unemployment trust fund went insolvent last month, and has borrowed twice from Washington since then — the first such loans to the state since 1983.

The New York Times

He paused to let the heresy sink in: It is possible to hit your long-term actuarial target and still go insolvent.

The New York Times

I was in a major relationship, which ended, and I was made redundant from my job as operations manager in a mobile phone warehouse after the company went insolvent.

The Guardian

More than 150 estate agency firms went insolvent last year and as many as 7,000 are at risk as high street operators face the triple whammy of online competition, a sagging property market and cuts to letting fees.

The Guardian - Business

Many banks went insolvent, many savers lost their deposits, and the value of money in the economy fell so as to reflect the new and lower value of assets in the economy.

The Guardian - Opinion

Indeed, according to independent Social Security actuaries, if funds were taken from the Social Security surplus equal to what would be needed to start individual accounts based on 2percentt of payroll taxes, Social Security would go insolvent 14 years earlier than projected -- unless, of course, benefits were cut significantly.

The New York Times

Expert writing Tips

Best practice

When using "gone insolvent", ensure you have reliable information about the entity's financial status. This phrase carries significant weight, so accuracy is crucial.

Common error

Avoid using "gone insolvent" if the entity is only experiencing a short-term cash flow problem. Insolvency implies a more permanent inability to meet financial obligations, not just a temporary shortage of funds.

Linguistic Context

The phrase "gone insolvent" functions as a predicate, describing the state or condition of a noun (typically a company, organization, or individual). As Ludwig AI confirms, it is grammatically correct and usable in written English. It indicates a completed action resulting in a state of financial failure.

Expression frequency: Uncommon

Frequent in

News & Media

50%

Science

25%

Formal & Business

25%

Less common in

Academia

0%

Encyclopedias

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, "gone insolvent" is a grammatically sound phrase used to describe the state of being unable to pay debts. Ludwig AI confirms it is usable and correct. While not exceedingly common, it is found across various reliable sources like news articles and business reports. When using this phrase, ensure the subject is truly unable to meet its financial obligations and consider alternatives like "declared bankruptcy" or "filed for insolvency" depending on the specific context. Avoid using "gone insolvent" if the situation involves mere short-term illiquidity.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

Gone bankrupt

Similar to "gone insolvent", but using "bankrupt" instead.

Declared bankruptcy

Focuses on the formal legal process of declaring inability to pay debts.

Filed for insolvency

Highlights the act of initiating insolvency proceedings.

Become bankrupt

Indicates the process of transitioning to a state of bankruptcy.

Became insolvent

Simple past tense describing the action of becoming insolvent.

Become unable to pay debts

Emphasizes the inability to meet financial obligations.

Defaulted on obligations

Focuses on the failure to fulfill financial commitments.

Entered receivership

Describes the placement of a company under the control of a receiver.

Become financially ruined

Emphasizes the devastating financial impact.

Ceased trading

Focuses on the cessation of business operations due to financial difficulties.

FAQs

What does it mean for a company to have "gone insolvent"?

When a company has "gone insolvent", it means it is unable to pay its debts and has likely entered a formal process such as bankruptcy or liquidation.

What are some alternatives to saying a company has "gone insolvent"?

You can use alternatives like "declared bankruptcy", "filed for insolvency", or "become bankrupt" depending on the context.

Is there a difference between "gone bankrupt" and "gone insolvent"?

While similar, "gone bankrupt" typically refers to a legal declaration of bankruptcy, whereas "gone insolvent" indicates the state of being unable to pay debts, which may or may not lead to a formal bankruptcy filing. Both phrases are very close in meaning though.

How is "gone insolvent" different from "facing financial difficulties"?

"Facing financial difficulties" indicates a company is struggling financially, but still operational and trying to resolve its issues. "Gone insolvent" implies the company's financial state is beyond recovery and it can no longer meet its obligations.