this post was submitted on 26 Jun 2024
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Bonza’s directors accused of trading while insolvent, creditors may walk away with nothing (www.abc.net.au)
submitted 4 months ago by [email protected] to c/[email protected]
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[–] [email protected] 2 points 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.