Insolvent

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Trading whilst insolvent - Under UK law, specifically the Insolvency Act 1986, a limited liability company is held to be trading whilst insolvent when it is either unable to pay its debts as they fall due, or when the value of its assets is less than its liabilities.

Waldorf Music - Waldorf Music AG is a now insolvent german synthesizer company with some very well known products. It was founded on the 1st of January 2003 to take over the actual business of the Waldorf Electronics GmbH (also insolvent).

Rover (car) - Rover (the MG Rover Group) was a manufacturer of automobiles in the United Kingdom, based at the famous Longbridge plant in Birmingham. However, in April 2005, production stopped when the company became insolvent.

American Falcon - American Falcon is an insolvent airline based in Buenos Aires, Argentina. It has ceased operations of its scheduled domestic and international passenger charter flights.

Suggested Web Sites

Insolvency Service - Deals with insolvency matters in England and Wales and some limited insolvency matters in Scotland. Provides detailed practical information on how to deal with insolvency matters.

Insolvency Practitioners Association of Australia - For professionals who specialise in the field of insolvency and for people who think their business may be insolvent, bankrupt or in financial difficulty. Find an insolvency practitioner, do our quiz.

Insolvency Service Home page - Provides the mechanisms and means for dealing with individual and corporate financial failure and the investigation of fraud and misconduct in insolvencies. Site contains guidance material and downloadable forms.

Source: BazSites.net

Web Links

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