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Does insolvency not occur when the asset value does not exceed the liability value?
Does the IP not have access to the assets for the purpose of pursuing a legitimate claim?
Does the IP not charge for the work he does irrespective of whether that work is done in the pursuit of a debt or in merely writing for an unpaid account.
My experience of IP's is they get paid whatever they do. Only when they have been paid do they think of the creditors. And only then if they have to.
Being an IP is almost like having a printing press to print money.