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A creditor or creditors may also petition for a bankruptcy order to be made against an individual debtor. Before a creditor presents a bankruptcy petition he must usually first serve on the debtor a statutory demand in one of the prescribed forms [1] requiring the debtor to pay the sum claimed within 21 days of service of the demand. The debtor ...
Long title: An Act to consolidate the enactments relating to company insolvency and winding up (including the winding up of companies that are not insolvent, and of unregistered companies); enactments relating to the insolvency and bankruptcy of individuals; and other enactments bearing on those two subject matters, including the functions and qualification of insolvency practitioners, the ...
The Encyclopaedia of Forms and Precedents is a large collection of non-litigious [1] legal forms and precedents published by LexisNexis UK. The encyclopaedia is available in hard copy, on a searchable online database, and on CD-ROM.
Administration in United Kingdom law is the main kind of procedure in UK insolvency law when a company is unable to pay its debts. The management of the company is usually replaced by an insolvency practitioner whose statutory duty is to rescue the company, save the business, or get the best result possible.
The Enterprise Act 2002 (c. 40) is an act of the Parliament of the United Kingdom which made major changes to UK competition law with respect to mergers and also changed the law governing insolvency bankruptcy. It made cartels illegal with a maximum prison sentence of 5 years and states that level of competition in a market should be the basis ...
This means a charge simply arises by virtue of contractual freedom. Legal and equitable charges are two of four kinds of security created through consent recognised in English law. [63] A legal charge, more usually called a mortgage, is a transfer of legal title to property on condition that when a debt is repaid title will be reconveyed. [64]
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