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Cross-border insolvency (sometimes called international insolvency) regulates the treatment of financially distressed debtors where such debtors have assets or creditors in more than one country. [1] Typically, cross-border insolvency is more concerned with the insolvency of companies that operate in more than one country rather than bankruptcy ...
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
Insolvency is a difficult financial situation, but it doesn’t have to last forever. ... If you’ve reached the point of insolvency — meaning your debts exceed your assets —you may feel like ...
This category holds accountancy, law or other professional firms which specialise in insolvency and corporate recovery. In the US the term for this specialism is bankruptcy. General firms should only be included here if they are particularly noted for this as one of their leading practice areas.
It has been suggested that the speaker or writer should either say technical insolvency or actual insolvency in order to always be clear – where technical insolvency is a synonym for balance sheet insolvency, which means that its liabilities are greater than its assets, and actual insolvency is a synonym for the first definition of insolvency ...
A.C., [1] administrative case [2] N/A: English A case brought under administrative law in the form of a quasi-judicial proceeding by an agency of a non-judicial branch of government, or, the Office of the Court Administrator. Normally, such cases are internal disciplinary matters—court cases criminal and civil can be brought alongside them if ...
The Model Law recognises the risk that certain provisions of one state's insolvency laws may be repugnant to another state, and creates a public policy exception in relation to foreign laws, [6] although the guidance notes express the hope that this would be utilised rarely in commercial insolvency matters. The Model Law also seeks to limit ...