The definition of insolvency is being unable or expecting to be unable to pay the debts of the company as and when they fall due. I do not know if this is the case with Veris.
Note that presently in Australia many companies are insolvent and the Directors have temporary protection from the normal personal liability of being responsible for debts incurred whilst trading insolvent. I think this protection ends in October. However Directors still have the obligation to act in the companies best interest, insolvent or not.
The definition of insolvency is being unable or expecting to be...
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