This is a common question often asked by those in serious debt difficulties, but no being insolvent does not mean you are bankrupt. Though insolvency can lead to bankruptcy it is not always a forgone conclusion. Being a bankrupt company, you will be considered as insolvent.
Once the insolvency of a company has taken place the shareholders have a choice to make, they can either sell off their shares and try to recoup the money they invested in the company or stick with it in the hope that it can regain its customer and get business back on track.
Being insolvent has different consequences depending on what form of insolvency your have been declared as, there is vast differences between individual insolvency and personal insolvency for example. We will move onto how these different types of insolvency will afect you in the long run.