The research goal is verification of models of assessing the insolvency of Latvian industrially enterprises. The authors analyse works on the verification of models of assessing insolvency/bankruptcy as well as existing results of assessing efficiency of using models assessing insolvency suitable for Latvian conditions. The object of the research is verification of 6 models of insolvency assessment out of which 4 – belong to models of discriminant (Altman Z, Z', Z''; R. Tafler and H.Tisshaw) and 2 other – to the Risk Index model (D. Durana) and the Conditional of probability (Genriha and Co). The authors’ research enables to come to the conclusion that despite the occurrence of Logit/Probit class models, Altman classic models remain in high demand in the analysis of insolvency of enterprises of many countries of the world, including Latvia.