Kagara has recently sold assets and still not paid off all...

Kagara has recently sold assets and still not paid off all debts.
The following couple of paragraphs are from a text book I have just taken down from a shelf in my office, which for my sins I had to study many years ago.

The term ‘liquid assets’ is used to describe money and assets which are readily convertible into money. Different assets may be said to exhibit different degrees of liquidity. Money itself is, by definition, the most liquid of assets: other assets have varying degrees of liquidity, depending upon the ease with which they can be turned into money. For assets other than money, liquidity has two dimensions:
1. The time necessary to convert into money, and
2. The degree of certainty associated with the conversion ratio, or price.
……..

(In Australian usage, a firm is said to be insolvent if it is unable to pay its debts as they fall due. This need not imply that its total assets are insufficient to meet its total obligations, however. A firm can have a positive net worth and still become insolvent through lack of liquidity at a critical point in time. This can lead to a compulsory winding-up by order of the court, or creditors may agree to allow the firm to continue and to trade out of its difficulties)

Van Horne, Davis, Nicol & Wright
Financial Management and Policy in Australia,
Third Edition
pp 499 – 500

Kagara still owe an awful lot of money to a lot of people.
It will be interesting to see, in the cold light of day, when someone goes through the books with a fine tooth comb, and a definitive timeline, if, and for how long, and to what degree, they have been trading whilst insolvent

pro bono publico