Bonza's directors accused of trading while insolvent, creditors may walk away with nothing
www.abc.net.au
Administrators for collapsed airline Bonza say the company likely traded while insolvent, with the company's directors to be referred to the corporate regulator for investigation.
  • blindsight@beehaw.org
    2·
    4 months ago

    In case anyone else needed to look it up, “trading while insolvent” means conducting regular business (“trading”) while having liabilities that exceed assets (“insolvent”). Like (I think) ordering product from a vendor you can’t pay for, or having employees continue to work when you can’t make payroll.