"the value of the company's assets is less than the amount of its liabilities, taking into account its contingent and prospective liabilities." This, whether total assets are less than liabilities, may also be tak

English law draws a distinction between a "debt", which is relevant for the cash flow test of insolvency under section 123(1)(e), ...

hat a company is insolvent if "the company is unable to pay its debts as they fall due". This is the main t

The meaning of insolvency matters for the type of legal rule. In general terms insolvency has, since the earliest legislation, depended upon...

ould also be in financial distress, and a string of failures could be part of a broader macroeconomic dep

The causes of corporate failure, at least in the market segment of the economy, all begin of the creation of credit and debt.[19] Occasional...

eans that in general, the company is the first "person" to have the liabilities. The agents of a company (directors and employees) are not usually liable for obligations, unless specifically assumed.[17

Companies are legal persons, created by registering a constitution and paying a fee, at Companies House. Like a natural person, a company ca...

nterest groups.[15] Invariably the shareholders, directors and employees' liability is limited to the

Corporate insolvencies happen because companies become excessively indebted. Under UK law, a company is a separate legal person from the peo...

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