法律英语词汇“insolvency”的翻译、意思、用法、释义-法律词典

单词

insolvency

释义

insolvency

insolvency 1. inability to pay debts as they fall due.

2. excess of liabilities over assets.

The Insolvency Act 1986 is essentially a legislative code governing insolvency proceedings. The practice in insolvency proceedings (insofar as it is not laid down in the Act) is governed by Insolvency Rules made under the Act.

In the Scots law, a distinction is made between absolute insolvency and apparent insolvency. Absolute insolvency means that the debtor's assets, if realised, would not meet his liabilities even if able to pay his way. Apparent insolvency means the inability to pay debts as they are demanded. The Insolvency Act 1986 regulates procedure in Scotland

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insolvency practitioners tribunal

as much as in England. In matters of personal insolvency, however, the law in Scotland is as set out in the Bankruptcy (Scotland) Act 1985 as amended by the Bankruptcy (Scotland) Act 1993.

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