The Insolvency Processes
There are a number of insolvency processes which, for England and Wales are listed below (note that some of those listed do not formally classify as insolvency):
For Companies
Administration;
Administrative Receivership;
Company Voluntary Arrangement;
Creditors Voluntary Liquidation;
Compulsory Liquidation;
Members Voluntary Liquidation (note this is a solvent liquidation);
Law of Property Act Receiver; and
Fixed Charge Receiver.
For Individuals
Individual Voluntary Arrangements; and
Bankruptcy.
For Partnerships
Partnership Voluntary Arrangement;
Administration
Partnership Winding up (liquidation); and
Bankruptcy/IVA of the partners.
These are the main processes, however there are others such as agricultural receivers, provisional liquidators and Schemes of Arrangements.
Some of these are not available in Scotland and there are some alternative procedures such as sequestration. Scottish procedures are not covered by this site.
