Examlex
It is accurate to state that the
Insolvent
The state of being unable to pay debts when they are due, often leading to bankruptcy proceedings.
Dissolution
The process of legally terminating the existence of a corporation, partnership, or other legal entity.
Creditors
Creditors are individuals or institutions that lend money or extend credit to others, holding the right to receive payment for debts owed to them.
Corporation
A legal entity formed by a group of individuals to engage in and operate a business, recognized by law as having rights and liabilities distinct from those of its members.
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