Insolvency is the condition when a person or organization is unable to pay off their debt taken from government or bank after signing an agreement. When a person is unable to pay off his debt or debt on his business, it is said to be insolvent. There are certain issues and problems, which often come up when your business is in insolvency. The bank may wish to sell it off to obtain money or may even try to auction every property related to the business or you to pay off for the loan. Under this condition, one must contact special lawyers for insolvency in Singapore. See More...