Insolvency: Difference between revisions
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Inability to pay financial obligations as they fall due. | Inability to pay financial obligations as they fall due. | ||
2. | 2. | ||
Under UK law, the inability of a company - on a balance of probabilities - to meet all of its existing, prospective and contingent liabilities, taking account of future costs and of future interest obligations. | |||
In making this assessment, future income and future asset valuations are also taken into account. | In making this assessment, future income and future asset valuations are also taken into account. | ||
Revision as of 09:37, 29 May 2013
1.
Inability to pay financial obligations as they fall due.
2.
Under UK law, the inability of a company - on a balance of probabilities - to meet all of its existing, prospective and contingent liabilities, taking account of future costs and of future interest obligations.
In making this assessment, future income and future asset valuations are also taken into account.
