No assets report

No assets report – this term defines the legal report, prepared by the local enforcement agent towards the judgment creditor, to notify them that the performed investigation show that the judgment debtor has no assets to satisfy the creditors in the execution or insolvency procedure. This is why such “no asset procedures” would be a pointless and cost non-effective in many legal systems where allowed local corporate bodies to have no capital and their managers to hold no liability to creditors for the actions they undertake (agreements they conclude).

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