The inability to pay debts as they fall due in the usual course of business or the inability of the debtor to pay current obligations as they become due There is no requirement of insolvency in the Bankruptcy Code
A person or organization that is insolvent does not have enough money to pay their debts. The bank was declared insolvent. not having enough money to pay what you owe = bankrupt
Not solvent; not having sufficient estate to pay one's debts; unable to pay one's debts as they fall due, in the ordinary course of trade and business; as, in insolvent debtor
You are insolvent if you have debt obligations in excess of $1,000 and are unable to meet your obligations as they come due, have ceased making payments, or have debts due and accruing which exceed the value of your assets