Originally Posted by
tail wheel
NAT, misunderstood you.
If Net Assets/Shareholders Equity is now only NGK1.7 mill and losses exceed NGK2 mill per month ("PNG Air half yearly results a loss of NGK13.9 mill") is the company now solvent?
Depends on the definition of insolvent up there. A common definition for public companies is the inability to pay invoices as and when they fall due. By that measure, Poxie has surely been insolvent for ages but being government owned in a country with a malleable legal system who knows?