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But over the years it borrowed heavily and its total debt - which includes all of its borrowings and liabilities - now stands at £22.8bn, according to latest financial results.

That had the effect of reducing the insurers’ liabilities after the fires due to the plan’s losses.

Three of Musk’s companies also face allegations they violated Occupational Safety and Health Administration regulations, including 26 violations contested by Tesla creating $583,000 in liabilities, according to the memo.

As of January, the company faced total current liabilities of more than $426 million.

In its most recent quarterly filing, the company listed total assets of $209.7 million and total liabilities of $273.1 million as of Sept. 30.