Insolvency Proceedings
/ɪnˈsɒlvənsi prəˈsiːdɪŋz/
Definitions
- (n.) Legal processes by which a debtor's assets are managed and distributed to creditors when the debtor is unable to pay debts.
The company entered insolvency proceedings to address its outstanding liabilities.
Forms
- insolvency proceedings
Related terms
See also
Commentary
Insolvency proceedings encompass formal court-supervised procedures and may vary by jurisdiction, including administration, liquidation, or reorganization processes.
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.