Wrongful trading is a term applied to companies in liquidation where a director allowed the company to continue trading in circumstances where he should have concluded that there was no reasonable pro [..]

A process placing a company under the control of an insolvency practitioner and the protection of the court to achieve a specified statutory purpose. Its purpose is to save the company, or if that is [..]

Administration orders include:

An insolvency practitioner appointed by the holder of a floating charge covering the whole, or substantially the whole, of a company’s property. He may carry on the company’s business and sell the bus [..]

An administrative receivership is the term for when a person is appointed as an administrative receiver. Sometimes abbreviated to receivership.

A licensed insolvency practitioner appointed to manage the affairs of a company in order to achieve the purpose of administration set out in the Insolvency Act 1986. The administrator will produce a p [..]

Associates include family members, relatives, partners and their relatives, employees, employers, trustees in certain trust relationships, and companies which an individual controls. Associates of com [..]

An individual against whom a bankruptcy order has been made by the court. The order signifies that the individual is unable to pay his/her debts and deprives him/her of his/her property, which is then [..]

The process of dealing with the estate of a bankrupt (See the term Bankrupt).

Insurance cover intended to protect the uncharged assets of an estate. This is needed by a person who acts as a licensed insolvency practitioner.