To suspend payment

(Com.) to cease paying debts or obligations; to fail; - said of a merchant, a bank, etc.

See also: Suspend

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International Resource News-January 11, 2016--SandRidge Energy to suspend payment of USD4.
NEWCASTLE City Council's decision to suspend payment for new admissions to the higher-priced care homes in the city has been coming for two or three years (The Journal, October 4).
First National Community Bancorp Inc (OTC BB: FNCB), the financial holding company of First National Community Bank, has said that its board of directors has decided to suspend payment of its quarterly dividend indefinitely in an effort to conserve capital.
credit rating agency said the ratings were affirmed in response to the regional bank's plan to suspend payment of dividends on preferred stock -- the first such decision by any Japanese bank receiving government preferred capital injections.
Putin's top economic advisor Andrei Illarionov attacks the government's decision to suspend payment on much of its foreign debt.
The model trust requires the plan trustee to suspend payment of benefits upon written notification from a purported creditor that the employer has become insolvent.
The government has decided to suspend payment of fees at toll plazas on all National Highways till the midnight of 11.
The board of directors of SandRidge Energy (NYSE:SD) said on Monday that it has decided to suspend payment of the USD3.
First National Community Bancorp Inc (FNCB) (OTCBB:FNCB), the financial holding company of First National Community Bank, said on Friday that its board of directors has voted to suspend payment of the company's quarterly dividend indefinitely in an effort to conserve capital.
NASDAQ:ZRBA) announced that it voted at its October 26, 2006 meeting to suspend payment of an annual dividend for 2006.
In anticipation of the closing, RFS has agreed to suspend payment of its quarterly dividend.
Under the terms of the preferred stock, Argonaut Group has agreed to suspend payment of dividends on the Company's common stock for two years.