What's the difference between insolvent and penniless?

Insolvent


Definition:

  • (a.) 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.
  • (a.) Not sufficient to pay all the debts of the owner; as, an insolvent estate.
  • (a.) Relating to persons unable to pay their debts.
  • (n.) One who is insolvent; as insolvent debtor; -- in England, before 1861, especially applied to persons not traders.

Example Sentences:

  • (1) The GMB union said that there was a risk that vulnerable people could be made homeless, but in the event of insolvency, Southern Cross's 31,000 homes would be run by local authorities or landlords on behalf of an administrator.
  • (2) Slowing growth, financial fragility, governments teetering on the brink of insolvency and default, and clear signs of a public backlash against the excesses of the rich and powerful: all have created a sombre backdrop to the invitation-only affair.
  • (3) The boys attempted to solve two different sets of 10 find-a-word puzzles, one set following exposure to solvable puzzles, and one set following exposure to insolvable puzzles.
  • (4) The number of people in England and Wales entering insolvency fell in the first three months of 2012, but debt charities warned the figures represented "the tip of the iceberg" of the UK's debt problems.
  • (5) But the insolvency profession trade body, R3, blamed the Insolvency Service for not providing clear guidelines on how to complete the SIP 16 forms and said the changes could drive up costs.
  • (6) Six months later, Greece is in effect insolvent, on the brink of the common currency's first case of sovereign debt default unless it is bailed out.
  • (7) At that point the Bank regarded the problem as one of liquidity – a lack of cash flow – rather than the risk of insolvency.
  • (8) "When the economy finally does improve, the number of corporate insolvencies will continue to rise, even if at a slower rate, due to a lag effect.
  • (9) As a result, and regardless of how the charity is established, trustees can attract personal liability for the debts or losses of the charity where that charity finds itself in an insolvent situation.
  • (10) • IVAs can only be drawn up and presented to creditors by a licensed insolvency practitioner.
  • (11) We examined the effects of methylphenidate on the task persistence of 21 boys with attention-deficit hyperactivity disorder (ADHD), after they had been exposed to both solvable and insolvable problems.
  • (12) She said the company's directors could not be held liable as they step aside during the insolvency process.
  • (13) A charity will be considered to be insolvent when it is unable to pay its debts as they fall due.
  • (14) The chancellor, Alistair Darling, told MPs yesterday that the ailing mutual, the UK's 12th largest, was close to insolvency.
  • (15) The onerous terms of the deeply unpopular “memoranda”, agreed with foreign lenders to keep insolvent Greece afloat, would be overturned.
  • (16) If a bank becomes insolvent the Financial Services Compensation Scheme (FSCS) steps in.
  • (17) An insolvency specialist today warned of a "deluge" of business failures next year, saying the UK is in the mid-point of a W-shaped recession.
  • (18) Merkel has become increasingly isolated in the last fortnight over Germany's insistence that Greece's private creditors – the banks, pension funds and insurance companies holding much of the insolvent country's €340bn of debt – have to take "haircuts" or sizeable losses on their investments as part of this second deal to rescue Greece.
  • (19) SWANSEA CITY Accounts for the year to 31 May 2014 Ownership Martin Morgan, 23.7%; Brian Katzen, 21.1%; Swansea City Supporters Society Limited (supporters trust) 21.1%; chairman Huw Jenkins 13.2%; Robert Davies 10.5% Turnover 13th highest, £99m (up from £67m in 2013) Match income £9m Media £81m Commercial and other £9m Wage bill Joint 14th highest, £63m (up from £49m in 2013) Wages as proportion of turnover 64% Profit before tax £1m (down from £21m in 2013) Net debt Nil; £2m cash in the bank Interest payable £0.015m Highest-paid director Huw Jenkins, £550,000 State they’re in The Swans’ epic paddle from bottom division and insolvency to Premier League and new stadium owned by a consortium of fan-businessmen, including 20% held by the supporters trust, was committed to documentary with A Jack to a King.
  • (20) The engineering company UGL agreed to pay Leung £4m in relation to its acquisition of DTZ Holdings, an insolvent property services firm that had employed Leung as its Asia Pacific director before he took office, Melbourne-based The Age reported on Wednesday .

Penniless


Definition:

  • (a.) Destitute of money; impecunious; poor.

Example Sentences:

  • (1) Katie has her benefits frozen, leaving her penniless, while Daniel, a man whose doctor says he is too ill to work, has to spend 35 hours a week applying for jobs he can’t take, on the orders of the jobcentre “work coach”.
  • (2) He’s living with his sister in the capital, Tegucigalpa, jobless and penniless, grieving the loss of his kids.
  • (3) The Mrs Brawne role is quiet, but has the visceral quality that marks Fox's best work; she is a widow, trying to negotiate her daughter's passion for the penniless Keats and the pressing financial need for her to marry well.
  • (4) Her case for judicial review claims that the actions of Balls, Ofsted and Haringey were unfair and in breach of natural justice, and have left her penniless and practically unemployable.
  • (5) Before this we’d won nothing for years.” The government’s volte-face means that tens of thousands of the very poorest households on the brink of catastrophe – victims of domestic violence or flooding, homelessness, or those made penniless by sudden financial crises – will in theory still be able to turn to the state, rather than the loan shark, for “last resort” help.
  • (6) This has left some claimants penniless, stressed, forced to borrow cash to pay rent or utility bills and struggling to buy food.
  • (7) Scot Young, 51, has told judges he is penniless and bankrupt, a victim of financial meltdown and hopelessly insolvent.
  • (8) Ted Cruz, also the son of a Cuban immigrant, said his father “came to Austin penniless, seeking freedom.
  • (9) By imposing rigid economic dogma on its borrowers, the IMF has imposed austerity and de-development on hundreds of millions of the world's poorest people: prising open food markets of the world's poorest countries to put penniless peasants in direct competition with subsidised producers of wheat, rice, cotton, sugar, beef, butter and other commodities in the USA and the EU, undermining fragile rural economies and livelihoods.
  • (10) I lost my friends, my business, my home and I am penniless.
  • (11) Shoesmith is claiming that the actions of Balls, Ofsted and Haringey council were "unfair" and in breach of natural justice, and have left her penniless and practically unemployable.
  • (12) Laura aka SheIsMe As a penniless teenager in 1990s Belfast, the non-appearance of my period was a rite of passage I'd have happily skipped.
  • (13) There are outliers in the discourse, but asylum seekers are condemned by some as “vermin” and “ like cockroaches ”, or sneered at as “filthy”, “grubby” or “penniless”.
  • (14) For most of her 20s, she worked on McLibel - an epic, low-budget documentary about McDonald's hamfisted attempt to sue two penniless activists who defended themselves in the high court in the longest civil case in English history.
  • (15) Veronica laid low for a while until, penniless and with no education, she returned to prostitution, though at least she was keeping her earnings.
  • (16) The odds against being on a plane with two bombs on it are 50bn to one.” Emma Fisher Bath • Rodney Mace has learned that it’s the penniless immigrants ruining our living standards ( Letters , 12 August)?
  • (17) Now Philip Hammond tells us it’s all those penniless immigrants fleeing oppression and poverty.
  • (18) Young, 51, has told judges he is penniless and bankrupt, a victim of financial meltdown whose debts add up to £28m.
  • (19) Sentencing him to prison, the judge said: "The husband says he is penniless and bankrupt.
  • (20) Mooney had just agreed to sell the property for £46,000 but now fears he will be left homeless and penniless if insurers refuse to pay up.

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