they incurred to one another efficiently

Sources: Insolvency Act 1986 and Companies Act 2006 Since the Bankruptcy Act 1542 a key principle of insolvency law has been that losses are...

Fixed charge holders

English law draws a distinction between a "debt", which is relevant for the cash flow test of insolvency under section 123(1)(e), ...

flow test is said to be based on a

Corporate insolvencies happen because companies become excessively indebted. Under UK law, a company is a separate legal person from the peo...