When a business cannot meet its financial obligations (ie pay its bills and debts), it is said to be insolvent.

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Grey list

Used in the context of general equities. Formal grouping of stocks which can be traded by the block desks, but not in risk arbitrage due to an Investment banks 0involvement with the company on non-public activity (i.e., Mergers and Acquisitions defense). A stock's being on this list should never be conveyed to anyone outside of the trading area, much less outside of the firm.

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