[Sakos]

The problem is the term "bankruptcy". Colloquially people seem to think a company is just out of money. All you need to file for bankruptcy is to be unable to service debts at a specific time. It might even just be a transitory state.

[slv77]

A company is insolvent when liabilities exceed assets. Companies can remain insolvent indefinitely unless they miss a payment at which point a creditor can force them into bankruptcy where a court oversees liquidation.

Evergrande is insolvent and is now bankrupt. There is no reasonable scenario here where the company continues to operate as a growing concern.

[quickthrower2]

TIL, more than one time of insolvency: https://en.wikipedia.org/wiki/Insolvency