Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 - SECT 95A

Meaning of solvent and insolvent

  (1)   A person is solvent if, and only if, the person is able to pay all the person's debts, as and when they become due and payable.

  (2)   A person who is not solvent is insolvent.

Note:   A company is taken to be insolvent if the company proposes a restructuring plan to creditors (see subsection   455A(2)).


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback