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Glossary of commonly used insolvency terms

Nominee

An IP who carries out the preparatory work for a voluntary arrangement, before its implementation.






If you are facing financial uncertainty, the P&A Partnership can help.

Whether you are an individual, a sole trader, a partnership or a limited company, we understand the uncertainties and complexities surrounding financial difficulties and provide both insolvency and business recovery services to help you through them.

Remember, the best time to avoid disaster is before it strikes - so if you have any concerns regarding financial problems or insolvency, contact us without delay on our confidential helpline:

0800 542 3021

Click on the links below for more explanations:

Administration order
Administrative receiver
Administrative receivership
Administrator
Annulment
Assets
Bankruptcy restrictions order
or undertaking

Charge
Company Directors Disqualification
Act 1986

Compulsory liquidation
Contributory
Creditor
Debenture
Director

Disqualification
Dividend
Fixed charge
Floating charge
Guarantee
Insolvency Practitioner
Liquidation (winding up)
Liquidator
Meeting of creditors (purpose of)
Member (of a company)
Nominee
Officer (of a company)
Official Receiver
Person
Petition
Preferential creditor
Proof of debt
Proof of debt form

Provisional liquidator
Proxy
Proxy form
Public examination
Realise
Receiver
Receivership
Rescission
Release
Secretary of State
Secured creditor
Shadow director
Statement of affairs
Supervisor
UNCITRAL
Unsecured creditor
Voluntary liquidation
Winding up order
 
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