Administration – Insolvency and administration
Insolvency means you are unable to pay your debts when they are due. The Insolvency Act 1986 is the legislation that covers all personal and corporate insolvency issues in the UK. Some issues are also affected by the Enterprise Act 2002. The two pieces of legislation cover insolvency issues such as administration, bankruptcy, liquidation, individual [...]
Insolvency means you are unable to pay your debts when they are due. The Insolvency Act 1986 is the legislation that covers all personal and corporate insolvency issues in the UK. Some issues are also affected by the Enterprise Act 2002.
The two pieces of legislation cover insolvency issues such as administration, bankruptcy, liquidation, individual voluntary arrangements and company voluntary arrangements.
A company is “in administration” when an administrator has been appointed to manage a company’s affairs, business and property for the benefit of the creditors.
The Government’s Insolvency Service and the courts cannot advise you on specific insolvency problems. You should seek legal or financial advice about the insolvency options available to you.
More information
- Insolvency and bankruptcy
- Insolvency and liquidation
- Insolvency and individual voluntary arrangements
- Insolvency and company voluntary arrangements
- Administration – What is administration?
- Administration – The administration process
- Administration – What is a composition order?
- Administration – What is an administrative receiver?
- Administration – Voluntary and involuntary administration
- Administration – The advantages of administration
- Administration – The disadvantages of administration
- Administration – I can’t afford to make my administration payments
- Administration – The alternatives to administration
- Related Articles
