Insolvency Law Flashcards
1
Q
Def: a company voluntary arrangement
A
If your limited company is insolvent it can use a company voluntary arrangement to pay creditors over a fixed period (if creditors agree the limited company can continue trading)
2
Q
Def: Receiver
A
A named individual who may take possession of property for its protection or realisation (typically appointed by a creditor with a fixed charge over property owned by the company)
