/stætʃʊtəri dɛkləˈreɪʃən ʌv sɒlvənsi/ – Phrase
Definition: Tuyên bố pháp lý về khả năng thanh toán.
A more thorough explanation: a sworn statement of assets and liabilities by directors, required under law before voluntary liquidation to confirm that the company is solvent
Example: The directors made a statutory declaration of solvency and the company went into members’ voluntary liquidation.