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  2. Insolvency Service - Wikipedia

    en.wikipedia.org/wiki/Insolvency_Service

    It has around 1,700 staff, operating from 22 locations across the UK. The Insolvency Service administers compulsory company liquidations and personal bankruptcies and deals with misconduct through investigation of companies and enforcement. It also makes redundancy payments in cases where a company is insolvent. [1]

  3. Severance package - Wikipedia

    en.wikipedia.org/wiki/Severance_package

    Severance pay in Luxembourg upon termination of a work contract becomes due after five years' service with a single employer, provided the employee is not entitled to an old-age pension and the termination is due to redundancy, unfair dismissal, or covered in a collective labor agreement. [32]

  4. Chapter 11, Title 11, United States Code - Wikipedia

    en.wikipedia.org/wiki/Chapter_11,_Title_11...

    Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]

  5. Layoff - Wikipedia

    en.wikipedia.org/wiki/Layoff

    An employer is able to apply for a reduction in the amount of money they have to pay the employee they have made redundant. An employer can do this by applying to the Fair Work Commission for a redundancy payment reduction. [31] A layoff is also known as a retrenchment in (South African English). In the UK, permanent termination due to ...

  6. Carillion - Wikipedia

    en.wikipedia.org/wiki/Carillion

    Outside the UK, the completion and handover of six schools being constructed under PFI arrangements in Ireland was also suspended following Carillion's liquidation, [209] with Irish suppliers fearing non-payment of Carillion debts [210] (on 6 April 2018, 216-strong Co Kildare-based Sammon Contracting Group sought bankruptcy protection after ...

  7. Preferential creditor - Wikipedia

    en.wikipedia.org/wiki/Preferential_creditor

    The courts will allocate a designated amount of money to pay for the cleanup efforts. [2] In the United Kingdom, employees' holiday pay/wages are classed as preferential – if they are paid via redundancy payments fund then the Department of Employment becomes a secured creditor. If there is a shortfall, in those cases where someone earns in ...

  8. Bankruptcy - Wikipedia

    en.wikipedia.org/wiki/Bankruptcy

    Current law covers three legal proceedings. The first one is bankruptcy itself ("Falência"). Bankruptcy is a court-ordered liquidation procedure for an insolvent business. The final goal of bankruptcy is to liquidate company assets and pay its creditors. The second one is Court-ordered Restructuring (Recuperação Judicial). The goal is to ...

  9. Company voluntary arrangement - Wikipedia

    en.wikipedia.org/wiki/Company_voluntary_arrangement

    Under UK insolvency law an insolvent company can enter into a company voluntary arrangement (CVA). The CVA is a form of composition, similar to the personal IVA (individual voluntary arrangement), where an insolvency procedure allows a company with debt problems or that is insolvent to reach a voluntary agreement with its business creditors regarding repayment of all, or part of its corporate ...