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It would be far more effective to overhaul insolvency laws.
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions.
Scotland and Northern Ireland have their own insolvency laws.
Insolvency laws were designed to protect creditors.
This is done in order facilitate bankruptcy in a new jurisdiction where the insolvency laws are deemed to be more favourable.
In some jurisdictions, it is an offence under the insolvency laws for a corporation to continue in business while insolvent.
Main concept of the insolvency law is very similar to Swiss and German insolvency laws.
The Institute is receiving a steady stream of reports of accountancy firms entering into individual voluntary arrangements under insolvency laws.
This breach of insolvency laws caused them to be relegated and allowed Leigh to stay in the Co-operative Championship.
However, Gateshead Thunder breached the insolvency laws which meant that it was they, instead of Leigh, who were relegated.
Signatory States should be able to determine the rank of the guarantees, which is an essential element of differentiation of the various insolvency laws in the World.
A preferential creditor (in some jurisdictions called a preferred creditor) is a creditor receiving a preferential right to payment upon the debtor's bankruptcy under applicable insolvency laws.
Thatcher has been a fervent critic of the reform of Ireland's personal insolvency laws, outlining that they do not go far enough and that laws there should be brought into line with the UK.
What I can tell you today is that we will give particular attention to this issue during the preparation of the next annual report on the implementation of the Lisbon Strategy, with particular reference to those countries whose insolvency laws still amount to an obstacle to growth and employment.
The international market (especially in Europe) has become more active in recent years as the amount of leveraged lending increased, capital standards for banks have become more stringent, the accounting treatment of non-performing loans has been standardized, and insolvency laws have been modernized.
But while the legislators were vying with each other to amend insolvency laws which all were agreed were far from fair or just, in 1842 they were able to agree on the need to do away with the notorious symbol of that unfairness and injustice, the Fleet Prison.
I agree with the call for US-style EU-wide insolvency laws along the lines of the American Chapter XI bankruptcy procedures which afford a number of advantages, particularly in so far as they do not disrupt the continuity of trading in failing companies.
Reference is made in the European Charter for Small Enterprises to the fact that some insolvencies can occur despite the exercise of responsible initiative and entrepreneurial risk-taking, and a review of national insolvency laws in the light of proven best practice is accordingly called for.