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.
After 14 years of this drastically reduced funding, one in five councils now believes it is " fairly or very likely" they will become insolvent in the next 18 months.