Industry WIKI

In the United Kingdom, only an authorised or licensed insolvency practitioner (IP) may be appointed in relation to formal insolvency procedures.

A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money (leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loans, along with the assets of the acquiring company. The use of debt, which normally has a lower cost of capital than equity, serves to reduce the o

Liquidation or winding-up is the process in law by which a company is brought to an end and its assets and property distributed to claimants. When a company has been liquidated, it is sometimes said to be wound-up or dissolved, although dissolution technically refers only to the final stage of liquidation.

Pari passu is a Latin phrase that literally means "with an equal step" or "on equal footing". It is sometimes translated as "ranking equally", "hand-in-hand", "with equal force", or "moving together", and by extension, "fairly", "without partiality".

Subordination in banking and finance refers to the order of priorities in claims for ownership or interest in various assets.

United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While UK bankruptcy law concerns the rules for natural persons, the term insolvency is generally used for companies formed under the Companies Act 2006. Insolvency means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to

The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States. It is one of 15 current U.S. government departments. The treasury executes currency circulation in the domestic fiscal system, collects all federal taxes through the Internal Revenue Service, manages U.S. government debt, licenses and supervises banks and

In law, a voidable floating charge refers to a floating charge entered into shortly prior to the company going into liquidation which is void or unenforceable in whole or in part under applicable insolvency legislation.