The Insolvency Act 1986 was as law after the Cork Review Committee’s report on Insolvency Law and Practice in 1982. Prior to the report, insolvency issues were dealt with under as many as 50 different Acts of Parliament, such as the Bankruptcy Act 1914, the Companies Act 1948, the Deeds of Arrangement Act 1914 and [...]
Administering the estate of a deceased person can be complex and time-consuming. However, dealing with insolvent deceased estates is even more complicated for executors of the estate and the deceased’s family. Insolvent deceased estates are handled differently to insolvent businesses or individuals. Firstly, the Insolvency Act 1986 does not cover the administration of insolvent estates. [...]
Insolvency and bankruptcy - it’s confusing to know which applies to your business. Whilst the two are similar, they are also very different and don’t mean the same thing. Insolvency is when a company or an individual can’t pay their debts on time. Bankruptcy is the legal process that follows when an individual has been [...]
