An order made by a court for the administration of the estate of a judgment debtor or a company in financial distress, focused on debt repayment and business survival.
Bankruptcy is the state of an individual or entity unable to pay off their debts. A court-ordered bankruptcy order leads to the liquidation of the bankrupt's assets to repay creditors.
A fraudulent conveyance is the deliberate transfer of property to another person with the intention of putting it beyond the reach of creditors. Legal scrutiny under statutes like the Insolvency Act 1986 can result in such transactions being set aside by the court.
A statutory demand is a formal request issued by a creditor to a debtor demanding the repayment of an outstanding debt. It serves as evidence of a debtor's inability to pay if unmet, and can support a compulsory liquidation petition under the Insolvency Act 1986.
A detailed examination of Company Voluntary Arrangements (CVA) and Individual Voluntary Arrangements (IVA) as defined under the Insolvency Act 1986, including their objectives, processes, and key differences.
