You work at a large accounting firm and have been staffed on a bankruptcy litigation matter. The bankruptcy relates to a public company. There were allegations that the financial statements were misstated and that some material information was not disclosed to the market. When that information became public, the creditors pulled the short term lines of credit and the company filed a bankruptcy petition.

The firm you have worked for will be analyzing the solvency of the company in the period prior to the disclosure of the material non-public information. The company made large transfers of value to a related entity and paid multi-million dollar bonuses to insiders. The bankruptcy trustee is seeking to void these transactions as constructively fraudulent conveyances. The key question you've been asked to study is "When did the company become insolvent?"

You have been asked to join the team. You know that there are experienced business valuation, accounting and financial analysts that will be working on the team. You'd like to add to the conversation and ask good questions. The team leader has called a meeting to brainstorm about the engagement approach and information request.

brainstorm about kinds of financial analyses that will be needed, the initial worksteps that the team will need to perform and the evidence and information you will need to gather.