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AmigAlex wrote: @samface Here are my interpretations, for what it's worth... (probably nothing) Insolvency: This is not something that needs nor can be decided by a court, and it can be a temporary or permanent state. When there's less cash on hand than bills to pay you're already insolvent. Money owed to you and your assets don't count for squat at that point in time. That state, if it lasts for a certain amount of time and doesn't look likely to change, can be used by creditors to ask a court to declare a company bankrupt, which then can be liquidated (in order to pay the creditors). Of course if you can sell some assets, get a loan, collect dues or complete a transaction that puts more money in the bank than the sum of what you owe, you are no longer insolvent and cannot be declared bankrupt either. That's why the Thendic/Genesi lawyer asked Bill Mc E. if AInc was insolvent. But the judges know that such a state can be short-lived and as a result of Bill claiming that money was coming soon, it became difficult to use his statement to request that AInc be liquidated.

According to US law, assets absolutely do matter as I keep quoting

"An entity is insolvent if its debts are greater than its assets, at a fair valuation, exclusive of property exempted or fraudulently transferred. "

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It's my belief that the purpose of AInc changing hands a few times was for the same reason.

No, it changed hands several times to keep it from Bill Buck via Bolten Peck.
-Tig

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