{"id":69150,"date":"2017-06-26T13:49:50","date_gmt":"2017-06-26T11:49:50","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/insolvency\/"},"modified":"2026-01-14T23:40:42","modified_gmt":"2026-01-14T22:40:42","slug":"insolvency","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/insolvency\/","title":{"rendered":"Insolvency"},"content":{"rendered":"\n<p><strong>Insolvency<\/strong> \u00a0is the state whereby a legal or natural person is unable to repay its <a href=\"https:\/\/tcm.be\/en\/creditor-definition\/\">creditors <\/a>due to having insufficient assets. In the event of prolonged insolvency, a company then declares itself\u00a0<strong><a href=\"https:\/\/tcm.be\/en\/bankruptcy\/\">bankrupt<\/a><\/strong> , whereas a private individual is directed towards a\u00a0<span style=\"text-decoration: underline;\">collective debt settlement<\/span> \u00a0procedure.<br><br>Updated 26\/06\/2017<\/p>\n\n\n\n<p>Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69150","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}