Search results
Results from the WOW.Com Content Network
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Pages for logged out editors learn more
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Donate; Pages for logged out editors learn more
In the United Kingdom, an administration order is a process designed to protect limited companies from their creditors while a debt restructuring plan is carried out and presented to creditors and courts. This administration order process requires a licensed insolvency practitioner to act as the administrator appointed by the court. The ...
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Pages for logged out editors learn more
Cash-flow insolvency involves a lack of liquidity to pay debts as they fall due. Balance sheet insolvency involves having negative net assets—where liabilities exceed assets. Insolvency is not a synonym for bankruptcy, which is a determination of insolvency made by a court of law with resulting legal orders intended to resolve the insolvency.
It constitutes a formal repayment proposal presented to a debtor's creditors via an insolvency practitioner. Usually but not necessarily, the IVA comprises only the claims of unsecured creditors and leaves the rights of secured creditors largely unchanged. Insolvency practitioners charge initial and ongoing fees that are in addition to the debt.
The two key principles suggested by Cork were: Insolvency laws were treated by the trading community as an instrument in the process of debt recovery and constitute in many cases, the sanction of last resort for the enforcement of obligations; Insolvency laws were the means by which the demands of commercial morality can be met, through the investigation and the disciplinary measures and ...
English: An Act to amend the Insolvency Act 1986 in relation to contracts of employment adopted by administrators, administrative receivers and certain other receivers; and to make corresponding provision for Northern Ireland.