statutory declaration of solvency

noun

  • Business (Corporate) Law/Company Law
  • Debtor-Creditor
  • Bankruptcy Law

Definitions of statutory declaration of solvency

  • a sworn statement of assets and liabilities by directors, required under law before voluntary liquidation to confirm that the company is solvent

    The directors made a statutory declaration of solvency and the company went into members' voluntary liquidation.

Phrase Bank for statutory declaration of solvency

  • The directors were required to swear the required statutory declaration of solvency.

  • The directors’ statutory declaration of solvency is invalid.