1 Jurisdiction, Sources and General Rules

2021 ◽  
Author(s):  
French Derek
Keyword(s):  
Building Society ◽  
General Rules ◽  
A Company ◽  
Company Insolvency

The chapter discusses the process of applying for and making winding-up orders. Proceedings for Winding Up by the Court Under Insolvency Act 1986 must be made by Petition. Winding up is most often sought by creditors of insolvent companies and is usually seen primarily as an insolvency procedure. Other purposes may justify making a winding-up order. From the time that a court makes an order that a company is to be wound up, the company has a liquidator under IA 1986. The liquidator must take into his custody or under his control all the property and things in action to which the company is or appears to be entitled. A compulsory winding up is wholly dependent on the court. It is for the court to oversee the realization of the assets of the company and their distribution, on the correct principles, among creditors and members. Legislation has made available various company insolvency procedures which, though not winding-up orders or bank or building society insolvency orders, replace a company’s directors with an independent insolvency office-holder who is at least capable of achieving the winding up of the company.

25. Company insolvency proceedings

2019 ◽  
pp. 251-270
Author(s):  
J. Scott Slorach ◽  
Jason Ellis
Keyword(s):  
Financial Difficulties ◽  
The Law ◽  
Insolvency Proceedings ◽  
A Company ◽  
Company Insolvency

This chapter deals with the procedures available when a company is insolvent or facing financial difficulties. It also considers the ways in which insolvent partnerships can be subject to the same procedures as companies. The law relating to these matters is principally contained in the Insolvency Act 1986 (IA 1986) together with the Insolvency Rules 1986, as amended by the Insolvency Act 2000 and the Enterprise Act 2002. The insolvency legislation provides four procedures for companies in financial difficulties: administration, voluntary arrangement, receivership, and liquidation.

25. Company insolvency proceedings

2018 ◽  
Author(s):  
J. Scott Slorach ◽  
Jason Ellis
Keyword(s):  
Financial Difficulties ◽  
The Law ◽  
Insolvency Proceedings ◽  
A Company ◽  
Company Insolvency

This chapter deals with the procedures available when a company is insolvent or facing financial difficulties. It also considers the ways in which insolvent partnerships can be subject to the same procedures as companies. The law relating to these matters is principally contained in the Insolvency Act 1986 (IA 1986) together with the Insolvency Rules 1986, as amended by the Insolvency Act 2000 and the Enterprise Act 2002. The insolvency legislation provides four procedures for companies in financial difficulties: administration, voluntary arrangement, receivership, and liquidation.

25. Company insolvency proceedings

2017 ◽  
Author(s):  
J. Scott Slorach ◽  
Jason Ellis
Keyword(s):  
Financial Difficulties ◽  
The Law ◽  
Insolvency Proceedings ◽  
A Company ◽  
Company Insolvency

This chapter deals with the procedures available when a company is insolvent or facing financial difficulties. It also considers the ways in which insolvent partnerships can be subject to the same procedures as companies. The law relating to these matters is principally contained in the Insolvency Act 1986 (IA 1986) together with the Insolvency Rules 1986, as amended by the Insolvency Act 2000 and the Enterprise Act 2002. The insolvency legislation provides four procedures for companies in financial difficulties: administration, voluntary arrangement, receivership, and liquidation.

25. Company insolvency proceedings

Business Law ◽  
2021 ◽  
pp. 249-270
Author(s):  
J. Scott Slorach ◽  
Jason Ellis
Keyword(s):  
Financial Difficulties ◽  
The Law ◽  
Insolvency Proceedings ◽  
A Company ◽  
Company Insolvency

This chapter deals with the procedures available when a company is insolvent or facing financial difficulties. It also considers the ways in which insolvent partnerships can be subject to the same procedures as companies. The law relating to these matters is principally contained in the Insolvency Act 1986 together with the Insolvency Rules 1986, as amended by the Insolvency Act 2000 and the Enterprise Act 2002. The insolvency legislation provides four procedures for companies in financial difficulties: administration, voluntary arrangement, receivership, and liquidation.

25. Company insolvency proceedings

2020 ◽  
pp. 249-268
Author(s):  
J. Scott Slorach ◽  
Jason Ellis
Keyword(s):  
Financial Difficulties ◽  
The Law ◽  
Insolvency Proceedings ◽  
A Company ◽  
Company Insolvency

This chapter deals with the procedures available when a company is insolvent or facing financial difficulties. It also considers the ways in which insolvent partnerships can be subject to the same procedures as companies. The law relating to these matters is principally contained in the Insolvency Act 1986 together with the Insolvency Rules 1986, as amended by the Insolvency Act 2000 and the Enterprise Act 2002. The insolvency legislation provides four procedures for companies in financial difficulties: administration, voluntary arrangement, receivership, and liquidation.

11 Other Petitioners

2021 ◽  
Author(s):  
French Derek
Keyword(s):  
Limited Liability ◽  
Building Society ◽  
Limited Liability Partnership ◽  
A Company

A company may petition for itself to be wound up by the court. The same applies to a building society, an incorporated friendly society, a limited liability partnership (LLP), and any other entity that may be wound up as a registered company. A company’s power to petition for its own winding up may be exercised by its directors, at least if the company has passed a special resolution that the company be wound up by the court, that being a circumstance in which the court may make a winding-up order. A petition by a company for its own compulsory winding up will usually rely on the circumstance that a special resolution has been adopted that the company be wound up by the court. When a resolution for compulsory winding up has been adopted, the court retains a discretion whether or not to make a winding-up order.

20. Company insolvency and liquidation

2019 ◽  
pp. 683-756
Author(s):  
Derek French
Keyword(s):  
Legal Principles ◽  
Wrongful Trading ◽  
A Company ◽  
Company Insolvency

This chapter deals with procedures and legislation governing the insolvency and liquidation of a company and who are qualified as insolvency practitioners. It discusses insolvency procedures such as administration, voluntary arrangement, creditors’ voluntary winding up, winding up by the court and the appointment of a provisional liquidator. It considers the effect of insolvency and liquidation procedures on floating charges, court control of insolvency and liquidation procedures, and liability for fraudulent trading and wrongful trading. The legal principles underlying disqualification orders against a company’s directors, the use of an insolvent company’s name, the order of the application of assets in liquidation and the dissolution of a company are also examined.

20. Company insolvency and liquidation

2018 ◽  
Author(s):  
Derek French
Keyword(s):  
Legal Principles ◽  
Wrongful Trading ◽  
A Company ◽  
Company Insolvency

This chapter deals with procedures and legislation governing the insolvency and liquidation of a company and who are qualified as insolvency practitioners. It discusses insolvency procedures such as administration, voluntary arrangement, creditors’ voluntary winding up, winding up by the court and the appointment of a provisional liquidator. It considers the effect of insolvency and liquidation procedures on floating charges, court control of insolvency and liquidation procedures, and liability for fraudulent trading and wrongful trading. The legal principles underlying disqualification orders against a company’s directors, the use of an insolvent company’s name, the order of the application of assets in liquidation and the dissolution of a company are also examined.

scholarly journals Insolvency prediction in companies: An empirical study in Italy

2015 ◽  
Vol 12 (4) ◽  
pp. 232-250 ◽  
Author(s):  
Elisa Giacosa ◽  
Alberto Mazzoleni ◽  
Claudio Teodori ◽  
Monica Veneziani
Keyword(s):  
Financial Reporting ◽  
Prediction Models ◽  
Statistical Technique ◽  
Logit Analysis ◽  
State Of Health ◽  
Italian Region ◽  
Italian Context ◽  
A Company ◽  
Company Insolvency ◽  
Reporting Data

The study stems from the relevance of the global economic crisis which is affecting companies to an increasing extent. The objective of the paper is to test the degree of effectiveness of the insolvency prediction models, most widely used in the literature, including recent works (Jackson and Wood, 2013), with reference to Lombardy, the most important Italian region in terms of industrialization rate. The following models were used, selected according to their diffusion and the statistical technique used: 1) Discriminant analysis (Altman, 1983), (Taffler, 1983); 2) Logit Analysis (Ohlson, 1980). The study identifies the state of health of companies in 2012, using the financial reporting data of the three previous years. The research sample consists of 58,750 companies (58,367 non-failed and 383 failed). Among the main results, it is observed that, for all the models, a prediction of default is often erroneously made for companies which are solvent, whereas failed companies are classified with a lower degree of error. The objective of the paper is preparatory to the second part of the research in progress in which, on the basis of the results presented here, some modifications will be made to the insolvency prediction models selected, significant for the Italian context, with the aim of identifying a company insolvency “alert model” which can be used by the various stakeholders. The results are interpreted in the light of the Stakeholder Theory.

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