Bonza’s directors accused of trading while insolvent, creditors may walk away with nothing
Submitted 11 months ago by Baku@aussie.zone to news@aussie.zone
https://www.abc.net.au/news/2024-06-26/bonza-directors-accused-of-trading-while-insolvent/104022496
blindsight@beehaw.org 11 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.