Technical insolvency

Technical insolvency

Default on a legal obligation of the firm. Technical insolvency occurs when a firm doesn't pay a bill on time.

Technical Bankruptcy

The state of a person or company that has defaulted on a liability and lacks the ability to pay it, but has not yet filed for bankruptcy or been declared bankrupt by a court.
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class="MsoNormalDEBT INTO EQUITY Kenya Airways board and management wish to warn that without immediate remedial action, the company may revert to technical insolvency," notes the document.
Unfortunately there seems to be no difference in mindset of politically affiliated elected trade union leaders and the mediocre executives that head them, who have driven State- owned enterprises to technical insolvency and some of our elected public office holders, who think that electoral mandate has given them sole contractual rights to do as they please during tenure of their office.
Every government, including PML(N) has appointed incompetent corrupt cronies who have driven Railways, PSM, PIA, PSO etc to brink of technical insolvency. When foreign passport holders dominate key government institutions and financial regulatory agencies than reverse flow of foreign remittances will not cease.
Moreover, the EU executive took into account the importance of the bank whereby a default or technical insolvency would create a serious disturbance to the economy of Cyprus.
Keckley's gloomy forecast: "One out of four hospitals is going to be at or near technical insolvency."
Central bank chief Sanusi Lamido Sanusi also guaranteed creditors and depositors, but fired top executives at five of the country's 24 banks because of poor decisions that had led one of the five into 'technical insolvency' and to undercapitalization in the other four.
The disclosure that the programme would be halted led to fears earlier this year that colleges which had already started work on their projects - around 79, requiring funding to the tune of pounds 2.7bn - could be forced to write off millions of pounds and, in some cases, could be forced into technical insolvency.
The disclosure has led to fears that colleges which have already started work on their projects will be forced to write off millions of pounds and, in some cases, could be forced into technical insolvency.
Analysts say while Asia suffers massive insurance overcrowding and widespread technical insolvency, issues driving consolidation in mature markets have yet to emerge in the region.
While existing stockholders should be given a reasonable period of time to correct deteriorating capital positions, the Congress should specifically provide the bank regulators with the clear authority, and therefore explicit support, to act well before technical insolvency to minimize the ultimate resolution costs.
The disclosure led to fears that 79 colleges, which had already started work on their projects - requiring funding of pounds 2.7bn - will be forced to write off millions of pounds and, in some cases, could be forced into technical insolvency. email: editorial@ Forum: www.
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