- practical insolvency
- absence of the ability to repay debts but has not yet officially declared bankruptcy
English contemporary dictionary. 2014.
practical insolvency
Look at other dictionaries:
insolvency — in·sol·ven·cy /in säl vən sē/ n pl cies 1: the fact or state of being insolvent compare bankruptcy 2: insufficiency (as of an estate) to discharge all enforceable debts ◇ Insolvency matters are covered under the Bankruptcy Code. Merriam … Law dictionary
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UNCITRAL Model Law on Cross-Border Insolvency — International The United Nations Commission on International Trade Law (UNCITRAL) adopted a Model Law on Cross Border Insolvency (Model Law) in 1997. The Model Law provides a suggested framework of legislation that, if implemented, sets out when… … Law dictionary
administrative insolvency — USA administrative insolvency, Also known as administratively insolvent. The inability of a debtor in bankruptcy to pay its administrative expenses, such as attorneys fees and other professional fees. Administrative claims must be paid in full as … Law dictionary
South African contract law — is essentially a modernised version of the Roman Dutch law of contract, [1] which is itself rooted in Roman law. In the broadest definition, a contract is an agreement entered into by two or more parties with the serious intention of creating a… … Wikipedia
centre of main interests — (COMI) European Union, International A term that describes the jurisdiction with which a person or company is most closely associated for the purposes of cross border insolvency proceedings. The term centre of main interests (COMI) is used in the … Law dictionary
COMI — centre of main interests (COMI) European Union, International A term that describes the jurisdiction with which a person or company is most closely associated for the purposes of cross border insolvency proceedings. The term centre of main… … Law dictionary
bankruptcy — bank·rupt·cy / baŋ ˌkrəp sē/ n pl cies 1: the quality or state of a bankrupt filed for bankruptcy 2: the administration of an insolvent debtor s property by the court for the benefit of the debtor s creditors the debt was discharged in bankruptcy … Law dictionary
