(1) Insolvency is the general reason to open insolvency proceedings.
(2) Debtors are deemed illiquid if they are unable to meet their mature obligations to pay. Insolvency is generally assumed where a debtor has stopped payments.
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Part 2 · Opening of insolvency proceedings. Recognised assets and parties to proceedings › Division 1 · Conditions and procedure for opening of proceedings › Section 17
Insolvency
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