/ɪnˈsɒlvənt ˌlɪkwɪˈdeɪʃən/ – Phrase
Definition: Quá trình thanh lý tài sản của một doanh nghiệp không đủ khả năng trả nợ.
A more thorough explanation: concluding a company’s affairs by selling its assets and paying its debts with any surplus being distributed to the owners because the company is unable to meet debts as they fall due or has liabilities greater than assets
Example: His company went into insolvent liquidation.