Examples of Insolvency Law in a sentence
On this view, the learned authors in Goode on Insolvency Law interpret the English Court of Appeal’s holding as accepting that a proceeding commenced on, amongst others, a finding of insolvency falls within the scope of the Model Law.
Following the guidelines of the Legislative Guide on Insolvency Law, the interests of all parties involved in insolvency proceedings cannot be equally protected and provided, so it is up to the state to define insolvency policy and set priorities – and in the endpoint to define values, which are significant.
Using methodology of an analysis of value through the system and following necessary laws of logic, there possible definable value is - equality of creditor`s in insolvency proceedings, coming to the procedures for settling the creditors' claims in insolvency proceedings of a legal person, the legislature has established a strict procedure of settling the creditors' claims (Insolvency Law, 2010).
According to the Insolvency law - Insolvency proceedings of a legal person are an aggregate of measures of a legal nature, within the scope of which the claims of creditors are settled from the property of a debtor, in order to promote the honouring of the debtor's obligations (Insolvency Law, 2010).
Please be advised that according to Insolvency Law, when a company cannot fulfil its due obligations it must present herself before Court in order to file an Insolvency Procedure (Article 3, number one of the Insolvency Code).