FOLIO Ontology

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Identification

IRI:
https://folio.openlegalstandard.org/RBKdkT6bMp8b6YpEo5MBDvA
Label Insolvency Practice
Preferred Label N/A
Identifier N/A
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Definition

Insolvency Practice encompasses the legal processes and procedures involved in handling the financial distress and liquidation of individuals and businesses unable to meet their debt obligations. It includes bankruptcy filings, debt restructuring, and the administration of insolvent estates. In the United Kingdom, insolvency is distinct from the U.S. concept of Bankruptcy.

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