athyrio ... not exactly correct your reasons why they are not trading while insolvent:
* This has nothing to do whether the shares are trading of not. It is purely if the business is still trading;
* They do not have to be taking on new debt (assuming you mean bank debt) or raising new capital to be trading. If they have any business that is a "going concern" that is taking on ANY liability (ie. buying toilet paper, coffee for the kitchen, accruing staff salaries ... any creditor at all) the directors can be held personally liable for ANY liability taken on if the business is trading while insolvent.
It would not be good enough for them to later say in court "But hey, we were selling everything we could to get out of this mess". The court would say "Fine, but if the business was insolvent there is a procedure to follow and you did not follow it".
Hence they can not believe the mighty Octaviar to be insolvent as they would be shooting themselves in the foot more than they have already.
MJS
MFS
mfs limited
