Insolvency processes: introductory guides

When a company’s financial position reaches a point where its liabilities exceed its assets or it is unable to pay its debts as they fall due, it may be necessary or desirable to place it into an insolvency process. Some insolvency processes are available even if the company is solvent and some may result in the rescue of the company.

In appropriate circumstances, a restructuring can serve as an alternative to an insolvency process. For more information, see: Informal restructuring tools—overview.

For an introductory guide to restructuring and insolvency, including links to our key resources, see Practice Note: Restructuring & Insolvency—new starter guide.

To access the R3 creditor guides which explain the rights of creditors during administration, administrative receivership, bankruptcy, compulsory liquidation and creditors’ voluntary liquidation, see Practice Note: R3 creditor guides.