Insolvency/Suspension of Payment - Shiharaifu no Ushiharai Teiishi

Japanese: 支払不能･支払停止 - しはらいふのうしはらいていし

Insolvency is a state in which a debtor has lost the ability to repay and is therefore generally and continuously unable to repay debts that are due. It differs from insolvency, which is based on a comparison of assets and liabilities, in that it is an objective state that is judged by taking into account all factors, such as the debtor's credit and skills, rather than just a comparison of assets and liabilities. Suspension of payments refers to actions that externally indicate insolvency. It is a subjective act of the debtor, and can take the form of explicit actions such as an intention to refuse to pay, implicit actions such as running away in the middle of the night, or suspension of bank transactions due to dishonored bills.

Source: Heibonsha World Encyclopedia, 2nd Edition Information

Japanese:

支払不能とは，債務者の弁済能力がなくなったために，弁済期の到来した債務を一般的かつ継続的に弁済できなくなった状態をいう。資産と負債の計数上の比較だけでなく，債務者の信用･技能などあらゆる要素を総合して判断される客観的な状態である点で，資産負債の計数上の比較に基づく債務超過と異なる。支払停止とは，支払不能であることを外部的に表示する行動をいう。債務者の主観的行為であって，支払拒絶の意思表示のように明示的なもの，夜逃げのように黙示的なもの，手形不渡りによる銀行取引停止処分などの態様がある。

出典　株式会社平凡社世界大百科事典第２版について　情報

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