Fizetképtelen

Fizetképtelen is a Hungarian term that translates to "insolvent" or "unable to pay" in English. It describes a state where an individual or a company lacks the financial resources to meet their outstanding debts and obligations as they fall due. This insolvency can be temporary or persistent, and it often triggers legal or contractual consequences.

In the context of a company,fizetképtelen means that the business cannot pay its creditors, including suppliers, lenders, and employees, within the agreed-upon payment terms. This situation can lead to bankruptcy proceedings, restructuring, or liquidation, depending on the severity of the financial distress and the applicable legal framework. For individuals, fizetképtelen can signify an inability to manage personal finances, leading to potential debt collection actions, credit rating damage, or personal bankruptcy.

The determination of fizetképtelen often involves assessing a company's or individual's cash flow, assets, and liabilities. Legal definitions and thresholds may vary, but the core concept remains the same: a fundamental inability to satisfy financial commitments. Understanding this term is crucial in business and personal finance, as it signals a critical financial condition requiring prompt attention and potential intervention.