Insolvency Order
/ɪnˈsɒlvənsi ˈɔːrdər/
Definitions
- (n.) A court order declaring a person or company insolvent, typically leading to administration or liquidation.
The court issued an insolvency order after the company's failure to pay its debts.
Forms
- insolvency order
- insolvency orders
Related terms
See also
Commentary
An insolvency order is fundamental in insolvency proceedings as it formally recognizes insolvency status and triggers subsequent legal remedies.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.