A prescribed form to be completed by creditors at the liquidators request, setting out details of their claim against the company, including how the debt arose and the amount claimed.
May 10
PROOF OF DEBT
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Voluntary Administration is a process where an insolvent company appoints an independent administrator to assess all available options and produce the best resolution for the company and its creditors
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A creditors’ voluntary liquidation occurs when the company’s members determine that the company can no longer satisfy its debts
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Small Business Restructuring provides a company time to put forward a plan to creditors to pay off their liabilities
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A court liquidation involves a liquidator being appointed to realise the company’s assets, investigate the company’s failure and disburse the funds to creditors according to priority
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A receivership is an option for secured creditors to recover unresolved debts under a secured loan in the event that a business defaults on its loan payments
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A Personal Insolvency Agreement (also known as Part X or Part 10) is a legally binding agreement between a debtor and creditors to satisfy their debts.
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The term Deceased Estate refers to all the assets, liabilities and debts that belong to a person who has passed away.
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