high likelihood of a transfer, is sufficient reason for concluding that the entity
has no practical ability to avoid a transfer.
In some cases, it is uncertain whether an obligation exists. For example, if
another party is seeking compensation for an entity’s alleged act of
wrongdoing, it might be uncertain whether the act occurred, whether the
entity committed it or how the law applies. Until that existence uncertainty is
resolved—for example, by a court ruling—it is uncertain whether the entity
has an obligation to the party seeking compensation and, consequently,
whether a liability exists. (Paragraph 5.14 discusses recognition of liabilities
whose existence is uncertain.)
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