Joined: 11-Sep-2003 Posts: 3043
From: here To: there
@samface
Quote:
samface wrote:
OK, let's try this again:
It would require a court of law to determine if a company is in the state of insolvency and declare it bankrupt.
That's completely irrelevant, we aren't talking about bankruptcy, the contract specifically mentions "insolvency" by name.
A court does not need to "declare" you insolvent, you are insolvent by nature of assets < debts, and these numbers are the responsibility of the Corporation, alone.
Quote:
Eeehm... haha! Sorry for laughing but, the thing is, you are accusing me of not reading and not understanding what people say while at the same time failing to see what I'm trying to say. In the context of corporate book keepings, your skill as a layman to "tell if the bottom line is less than or higher than zero" is completely irrelevant. Where "the line" actually ends up after an auditor has done your book keeping can be completely different than by the estimates of a layman.
So? We know the assets were less than the debts, because the assets HAVE been sold, and the debt remains. Even a Layman can figure that one out... (Or are you one of those people who think laymen can't... oh nevermind )
Do you think the assets sold for more than the debt? Where is it then?
Quote:
Maybe you have money on the bank that you think proves that your company's financial status is "above the line" but an error in your book keeping says that they are owed to someone else. Or the opposite might just as well be true; you don't have any money on the bank but an error in your book keeping says you payed way too much taxes last month and need only collect it from the state. These things happen all the time, even though it's criminal to not have your book keepings in order.
Are you following me yet?
No. You are talking about Amiga Washington as if they still have books. They don't, they've been dissolved, and no assets remain, only debts.
Any bookkeeping errors are moot, the books are closed.
The Judge ruled that there was no definition of Insolvency in the contract. So it is open for both side to argue what exactly it means in the context of the Agreement.
The Most important ruling :
The Judge also ruled that Amiga Delaware have not yet produced adequate evidence to show that they have the right to bring the lawsuit against Hyperion.
_________________ Sam460ex : Radeon Rx550 Single slot Video Card : SIL3112 SATA card
Joined: 14-Feb-2006 Posts: 1134
From: Kingston upon Hull, UK
@Thread
Perhaps (for the sake of deflating some arrogance) posters should start with the acronym IANAA - I am not an accountant.
_________________ Troll - n., A disenfranchised former potential customer who remains interested enough to stay informed and express critical opinions. opp., the vast majority who voted silently with their feet.
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