@Dandy
The contract didn`t require them to be insolvent under US Code - just to be insolvent - that leaves room for speculation
From the leaked contract draft:
Article 7.06 Governing Law. This Agreement shall be governed by and interpreted in accordance with the internal laws of Washington State, USA without regard to conflicts of laws principles. The obligations set forth in this Agreement are intended to supplement and not to supersede the protections afforded Amiga under the Uniform Trade Secrets Act or similar law or laws as may be in effect from time to time within the State of Washington.
I'd be very surpsised if the Governing Law would have been left undefined.