Insolvency Act

Contents of the Insolvency Act 1986

The Insolvency Act 1986 lays out the enactments relating to company insolvency and the winding up of companies that are not necessarily insolvent (for example, members voluntary liquidation).

It also details enactments relating to the bankruptcy of individuals, the public administration of insolvency, the consequences of malpractice and wrongdoing, and the functions and qualifications of insolvency practitioners.

The main sections of the Insolvency Act 1986 discuss and provide statutory legislation for matters regarding:
• Company voluntary arrangements (CVA)
• Administration
• Receivership
• Winding up of companies
• Liquidators
• Miscellaneous provisions
• Debt relief orders
• Individual voluntary arrangements (IVA)
• Bankruptcy
• Insolvency practitioners

In 2004, the Insolvency Act was updated by the Enterprise Act 2002 which introduced a new 'out of court' administration process, among other things.

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To sort out a financial crisis, contact a specialist insolvency adviser at Crown Debt. It's easy to initiate the process and a phone call is all it takes.

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