The terms bankruptcy and liquidation are often used erroneously. Put simply, bankruptcy relates to an individual and liquidation relates to a company. In Australia bankruptcy is a legal process for an individual (rather than a corporate entity) when they are unable to repay their debts. The Bankruptcy Act 1966 covers insolvency for individuals. Perhaps the reason that terms are used incorrectly arises from the USA where “bankruptcy” is commonly used for a company which is insolvent (the inability to pay its debts when they are due) and companies can file for bankruptcy.
- The Panama Paper Chase
- Begbies Traynor Group launches worldwide insolvency, restructuring and financial advisory group
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- BTG Global Advisory Announces Further Expansion
- Dr. Christian Kaufmann and Mr. Áticus Ocaña further Managing Directors of PLUTA
- Ivo-Meinert Willrodt joining PLUTA Management
- Law firm MEYER Rechtsanwälte Insolvenzverwalter to merge with PLUTA