declaration of insolvency

The creditor, in such cases, may seek an order for repayment and a declaration of insolvency respectively.

Two companies have offered to buy the nation's largest Medicare-certified health maintenance organization after a court declaration of insolvency, Bill Gunter, the Florida insurance commissioner, said Friday.

Bankruptcy proceedings agreed between creditors and debtor also occurred when a trader filed a declaration of insolvency in the office of the Chancellor's Secretary of Bankrupts, which was then advertised.