CGA 0.00% $1.00 contango asset management limited

Rules for a company and insolvency

  1. 4,783 Posts.
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    As we know trading while insolvent is a massive no no

    Now clearly we know that CGA aren't doing this because otherwise they would have reported it

    My question is, seeing it would appear they have either raised capital or opened a debt facility, would they be required to report that to shareholders if they did?

    [ ie If they only way you are able to make payroll would be because you took out say a $1.5m overdraft, and in the absence of it you would be insolvent, is that something you would have to advise the market on? ]

    Not at all insinuating CGA have done either or suggesting what their financial predicament may or may not be - although I can't for the life of me see how they have remained solvent based on last quarterly figures- just trying to understand what the rules would be in such a hypothetical situation

    Thank you

    DYOR
 
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Currently unlisted public company.

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