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Insolvency

Index Insolvency

Insolvency is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be insolvent. [1]

47 relations: Accounting liquidity, Administration (law), Australia, Balance sheet, Bankruptcy, Bankruptcy and Insolvency Act, Bankruptcy in the United States, Canada, Cash flow, Chapter 11, Title 11, United States Code, Companies' Creditors Arrangement Act, Company voluntary arrangement, Corporation, Corporations Act 2001, Court, Creditor, Crime, Currency, Debt restructuring, Default (finance), Financial distress, Foreclosure, Houlihan Lokey, Hyperinflation, India, Individual voluntary arrangement, Inflation, Insolvency Act 1986, Insolvency and Bankruptcy Code, 2016, Insolvency practitioner, Jurisdiction, Legislation, Liquidation, Monetization, Net worth, Ordinary course of business, Receivership, Refinancing, Sole trader insolvency, Solvency, South Africa, Sovereignty, Stakeholder (corporate), Switzerland, Synonym, Uniform Commercial Code, United States.

Accounting liquidity

In accounting, liquidity (or accounting liquidity) is a measure of the ability of a debtor to pay their debts as and when they fall due.

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Administration (law)

As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the United States.

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Australia

Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands.

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Balance sheet

In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as Government or not-for-profit entity.

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Bankruptcy

Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.

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Bankruptcy and Insolvency Act

The Bankruptcy and Insolvency Act ("BIA") (Loi sur la faillite et l’insolvabilité) is one of the statutes that regulates the law on bankruptcy and insolvency in Canada.

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Bankruptcy in the United States

In the United States, bankruptcy is governed by federal law.

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Canada

Canada is a country located in the northern part of North America.

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Cash flow

A cash flow describes a real or virtual movement of money.

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Chapter 11, Title 11, United States Code

Chapter 11 is a chapter of Title 11, the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States.

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Companies' Creditors Arrangement Act

The ("CCAA") (Loi sur les arrangements avec les créanciers des compagnies) is a statute of the Parliament of Canada that allows insolvent corporations owing their creditors in excess of $5 million to restructure their business and financial affairs.

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Company voluntary arrangement

Under UK insolvency law an insolvent company can enter into a company voluntary arrangement (CVA).

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Corporation

A corporation is a company or group of people or an organisation authorized to act as a single entity (legally a person) and recognized as such in law.

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Corporations Act 2001

The Corporations Act 2001 (Cth) (the Corporations Act, or CA 2001) is an Act of the Commonwealth of Australia which sets out the laws dealing with business entities in Australia at federal and interstate level.

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Court

A court is a tribunal, often as a government institution, with the authority to adjudicate legal disputes between parties and carry out the administration of justice in civil, criminal, and administrative matters in accordance with the rule of law.

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Creditor

A creditor is a party (for example, person, organization, company, or government) that has a claim on the services of a second party.

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Crime

In ordinary language, a crime is an unlawful act punishable by a state or other authority.

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Currency

A currency (from curraunt, "in circulation", from currens, -entis), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.

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Debt restructuring

Debt restructuring is a process that allows a private or public company, or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue its operations.

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Default (finance)

In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity.

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Financial distress

Financial distress is a term in corporate finance used to indicate a condition when promises to creditors of a company are broken or honored with difficulty.

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Foreclosure

Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.

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Houlihan Lokey

Houlihan Lokey, Inc., is an independent, advisory-focused, global investment bank.

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Hyperinflation

In economics, hyperinflation is very high and typically accelerating inflation.

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India

India (IAST), also called the Republic of India (IAST), is a country in South Asia.

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Individual voluntary arrangement

In England and Wales, an individual voluntary arrangement (IVA) is a formal alternative for individuals wishing to avoid bankruptcy.

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Inflation

In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.

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Insolvency Act 1986

The Insolvency Act 1986 is an Act of the Parliament of the United Kingdom that provides the legal platform for all matters relating to personal and corporate insolvency in the UK.

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Insolvency and Bankruptcy Code, 2016

The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.

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Insolvency practitioner

In the United Kingdom, only an authorised or licensed Insolvency Practitioner (usually abbreviated to IP) may be appointed in relation to formal insolvency procedures.

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Jurisdiction

Jurisdiction (from the Latin ius, iuris meaning "law" and dicere meaning "to speak") is the practical authority granted to a legal body to administer justice within a defined field of responsibility, e.g., Michigan tax law.

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Legislation

Legislation (or "statutory law") is law which has been promulgated (or "enacted") by a legislature or other governing body or the process of making it.

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Liquidation

In United Kingdom, Republic of Ireland and United States law and business, liquidation is the process by which a company is brought to an end.

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Monetization

Monetization (also written monetisation) is the process of converting or establishing something into legal tender.

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Net worth

Net worth is the value of all the non-financial and financial assets owned by an institutional unit or sector minus the value of all its outstanding liabilities.

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Ordinary course of business

In law, the ordinary course of business covers the usual transactions, customs and practices of a certain business and of a certain firm.

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Receivership

In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet financial obligations or enters bankruptcy.

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Refinancing

Refinancing is the replacement of an existing debt obligation with another debt obligation under different terms.

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Sole trader insolvency

According to the Office for National Statistics, sole proprietors represented 23.8% of all UK enterprise in 2010.

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Solvency

Solvency, in finance or business, is the degree to which the current assets of an individual or entity exceed the current liabilities of that individual or entity.

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South Africa

South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa.

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Sovereignty

Sovereignty is the full right and power of a governing body over itself, without any interference from outside sources or bodies.

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Stakeholder (corporate)

In a corporation, as defined in its first usage in a 1963 internal memorandum at the Stanford Research Institute, a stakeholder is a member of the "groups without whose support the organization would cease to exist".

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Switzerland

Switzerland, officially the Swiss Confederation, is a sovereign state in Europe.

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Synonym

A synonym is a word or phrase that means exactly or nearly the same as another word or phrase in the same language.

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Uniform Commercial Code

The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been put into law with the goal of harmonizing the law of sales and other commercial transactions across the United States of America (U.S.) through UCC adoption by all 50 states, the District of Columbia, and the U.S. territories.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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Buisness insolvency, Business Rescue, Business recovery, Cash flow insolvency, Corporate insolvencies, Corporate insolvency, Financial insolvency, Insolvencies, Insolvency (law), Insolvency law, Insolvent.

References

[1] https://en.wikipedia.org/wiki/Insolvency

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