A solicitor acting on behalf of a company requested that Veritas Advisory prepare a solvency report for the purpose of proving solvency of the company in order to defend a winding up application brought about by a petitioning creditor.

By reviewing the books and records received from the solicitor Veritas Advisory were able to analyse the financial information, budget and forecasts to determine both the current solvency status and the likelihood of solvency in the near future.  Any indicators of insolvency which may have contradicted the financial analysis were also assessed.

After a comprehensive review, a solvency report to assist in the court proceedings was prepared.  This supported the solvency of the company in time to stay the winding up application.

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