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The government pays for them from the public finances as they fall due.
He does, however, promise to "renegotiate" those obligations as they fall due.
"The Remuneration Committee will, as a matter of ordinary course, review these awards when they fall due next month".
Instead, they buy futures and options which they settle with a cash payment when they fall due.
"The definition of solvency is based on a company's ability to meet its liabilities as they fall due and that is exactly what we do," Howard said.
The Turnberry accounts state: "The group is dependent on continuing finance being made available by its ultimate owner to enable it to continue operating and to meet its liabilities as they fall due".
Similar(36)
Their shareholders would have been better off had the loans been kept until they fell due.
In August 2004, Argentina suspended its agreement with the IMF; since then, it has repaid its debts to the Fund as they fell due.
Forming an opinion about whether the company traded while insolvent – meaning it could not pay its debts as they fell due – was a complex test administrators had not yet been able to apply, Park said.
In addition to this interest, there was also to be distributed as they fell due, the royalties from leases of mineral rights, the proceeds of the sale of certain lands already referred to and the rentals from the grazing lands.
The court adds that if the state statutes were not suspended, the general creditors were not suspended, the instruments in dispute set aside because, under the facts shown, the company was not able to meet its debts as they fell due, and so was insolvent; and, further, the instruments in terms were made to a trustee.
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