- company insolvency proceedings
there are four types of insolvency proceedings that govern the affairs of insolvent companies: voluntary arrangements under Part I of the Insolvency Act 1986; administration orders under Part II; receivership under Part III; and winding up under Parts IV-VI. Under the Insolvency Act 1986 no company registered under the Companies Acts may be liable to bankruptcy proceedings.
Collins dictionary of law. W. J. Stewart. 2001.
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