insolvent company

insolvent company

a company that is unable to pay its debts in full as they fall due.
References in periodicals archive ?
The transport minister wouldn't expect a deal between Germany's two largest airlines to result in antitrust problems, because Lufthansa isn't interested in buying the entire company, but rather only parts of the insolvent company.
A CVA - an agreement an insolvent company has with its creditors about what will be repaid and when - was a Football League requirement for a club exiting insolvency.
winding up an insolvent company - from an average 4.
Dr Miles said the existing provisions of the Environmental Protection Act 1994 (EP Act) were inadequate and did not allow the Department of Environment and Heritage Protection (EHP) to impose obligations on entities related to an insolvent company to prevent or clean-up environmental damage.
Because, if on the one hand "the tax and customs authority (TA) has regarded the insolvent estate as liable to taxation and, as a consequence, an insolvent company's settlement of assets is subject to taxation regarding the IRC," turn "the insolvency administrators (IA) (1) argue that an insolvent company does not pursue, primarily, a commercial, industrial, or agricultural activity, and, therefore, from the moment when all goods are seized for the insolvent estate, the outcome of their liquidation is not liable to the IRC, and this viewpoint is corroborated by a part of the Portuguese jurisprudence.
In addition to other claims, the committee asserted a claim for deepening insolvency, alleging that the defendants, by misrepresenting the corporation's financial condition, had fraudulently prolonged the existence and operation of the insolvent company, with the result of diminishing what value remained in the corporation.
Examinership is a process whereby the protection of the court is obtained to assist the survival of an insolvent company, allowing the corporation to restructure.
A creditor that puts the most pressure on a debtor will most likely receive their money before others; however, they need to be conscious of the voidable transaction regime when they are dealing with an insolvent company.
They said the Cardiff printer produced false invoices showing non-existent sales between his insolvent company, South Wales Media Ltd, and another he had set up, Cardiff Printing Company.
A former head of the NY Liquidation Bureau candidly referred to his job as that of an undertaker disposing of the body of the insolvent company.
Kaunas District Court was expected to appoint bankruptcy administrators to the insolvent company yesterday but the hearing has been shelved until October 29.
The administrators of electrical retailer Comet will close 41 stores by the end of November if they cannot find a buyer for the insolvent company.