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Balance sheet insolvency: Difference between revisions
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“[[Unable to pay its debts]]” features in many definitions of [[insolvency]] or [[bankruptcy]], and compared with the carefully crafted prose of other limbs, seems a dangerously vague expression. It has a pretty technical meaning — conferred by statute, no less — when you dig into it, and the English courts have had an opportunity consider what this means, and have resourcefully concluded “what it says”. | “[[Unable to pay its debts]]” features in many definitions of [[insolvency]] or [[bankruptcy]], and compared with the carefully crafted prose of other limbs, seems a dangerously vague expression. It has a pretty technical meaning — conferred by statute, no less — when you dig into it, and the English courts have had an opportunity consider what this means, and have resourcefully concluded “what it says”. | ||
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===See also=== | ===See also=== | ||
*[[insolvency]] | |||
*[[bankruptcy]] | |||
*[[cashflow insolvency]] | *[[cashflow insolvency]] | ||
*{{isdaprov| | *{{isdaprov|Bankruptcy}} - the {{isdama}} definition. | ||