Insolvent tenants openly defied the collector of the waterrate from their ten-roomed strongholds, and existed for weeks without any visible means of procuring that necessary fluid.
The insolvent construction giant Carillion, which counted Deloitte and KPMG as its auditors, We were a customer of Carillion, not the manager of Carillion.
Judge Steve Rhodes told a packed courtroom that the city was clearly insolvent when bankruptcy was declared in July, the largest such municipal filing in the US history.
If any of the contributors become bankrupt or insolvent, the collector is obliged to advance his tax; and the whole parish is reimposed next year, in order to reimburse the collector.