Some companies keep trading and operating their business, even when it is clear to them that they are bankrupt and are unable to continue.
When this happens to a business or company, that business or company is said to be insolvent. This can put the business owner or company director into a lot of trouble.
According to Business Turnaround Services Australia (2017), insolvency is a critical condition that company directors must ensure it does not occur if the business is to survive and operate legally. If the business is insolvent, it should not be operating anymore. Company directors will be held liable for insolvent trading, and civil or criminal penalties may apply.
Do you want to know if your company is already in…
Read the full article at: https://born2invest.com/articles/reading-signs-company-insolvency/