The Point of No Return - A Balancing Act.
Mondaq Business Briefing › Nbr. 2011, January 2011
Linked as:
Extract
The Point of No Return - A Balancing Act.
Originally published April 8, 2011
Keywords: UK Insolvency Act, balance sheet test, Hong Kong, Companies Ordinance, mortgage-backed loans In BNY Corporate Trustee Services Ltd v Eurosail UK 2007 - 3BL PLC & Ors, the English Court of Appeal has decided that the mere fact that a company's aggregate liabilities exceed its assets may not render the company to be deemed unable to pay its debts under section 123(2) of the UK Insolvency Act 1986 (commonly referred to as the "balance sheet tes...See the full content of this document
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