An administration order is a Court Order placing a company that is, or is likely to become, insolvent under the control of an administrator following an application by the company, its directors or a [..]

Appointed by the holder of a floating charge covering the whole, or substantially the whole, of a company’s property. He can carry on the company’s business and sell the business and other assets comp [..]

An Insolvency Practitioner appointed to take control of a company and accomplish the purpose of the Administration. The administrator will need to produce a plan, known as his proposals for approval b [..]

Anything that belongs to the debtor that may be realised in order to pay his/her debt.

Bankruptcy is a process dealing with the estate of a bankrupt. A bankrupt is an individual against whom a bankruptcy order has been made by the Court, signifying that an individual is unable to pay hi [..]

A procedure was introduced on 1 April 2004 whereby a Bankrupt who was being dishonest or in some way to blame for their bankruptcy may have a Court Order made against them or give an undertaking to th [..]

A form of security taken over property by a creditor to protect against non payment of debt (such as a mortgage).

An Act of Parliament that in certain circumstances may lead to the disqualification of Directors.  

Winding up of a company after a petition to the Court, usually by a Creditor. This is the only method by which a creditor can bring about a liquidation of its debtor company.

A voluntary arrangement for a company is a procedure whereby a plan of reorganisation or composition in satisfaction of its debts, is put forward to creditors and shareholders. There is a limited invo [..]