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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More senators on Thursday called on Budget Secretary Benjamin Diokno not to suspend payment of government employees' salary increases because of the delay in the approval of the 2019 budget bill, saying this was not a valid reason.
SandRidge Energy Incorporated (OTC PINK: SDOC), an oil and natural gas exploration and production company, has decided to suspend payment of the USD4.25 per share semi-annual dividend on shares of its 8.5 percent Convertible Perpetual Preferred Stock
A press release issued by Pakistani companies said that the US Federal Communications Commission (FCC) in its recent Memorandum of Opinion and Order has advised USA based carriers to suspend payment to Pakistani LDIs despite the fact that the interconnected USA Carriers had agreed to current Approved Settlement Rate (ASR) and entered into contract which has binding effect.
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 11.11.2016.
The board of directors of SandRidge Energy (NYSE:SD) said on Monday that it has decided to suspend payment of the USD3.50 per share semi-annual dividend on shares of its 7.0% convertible perpetual preferred stock.
2001 he attacked PM Kasyanov's decision to suspend payment on much of its foreign debt.
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.