Financial information definition clarifies which records are operative for insolvency assessment and creditor claims. Financial Information is defined to include records of a person's debt, records of liabilities when solvent, records of assets over which security ... Summary
Financial information definition clarifies which records are operative for insolvency assessment and creditor claims.
Financial Information is defined to include records of a person's debt, records of liabilities when solvent, records of assets over which security interests exist, records of instances of default against any debt, records of balance sheets and cash-flow statements, and any other information that may be specified; these categories constitute the operative documentary inputs for insolvency assessment, creditor claims, asset evaluation, and compliance.
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