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-- 208.228.181.183 ( talk) 11:47, 25 April 2008 (UTC)
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I seem to recall Insolvency has a specific meaning in the U.K that is more akin to U.S. Bankruptcy than is stated by the the US-centric dictionary definition in this article. Flawiki 01:36, 28 Dec 2004 (UTC)
The UK/US use the same terms of art - but in different ways - we need to be clear what we are defining - I suspect that we have a clear US page - which is simply incorrect in the UK - perhaps we need to split it into regional areas - tagging what we have as US (or whatever) - and then opening up a new UK etc section as appropriate. Brookie 09:10, 8 Mar 2005 (UTC)
I don't think the definition of insolvency in this article is quite right. Having liabilities that exceed your assets isn't good, but doesn't neccessarily mean you're insolvent. Students that work their way through university on student loans usually have a negative net worth, upon graduation, but it wouldn't be correct to say they're insolvent. They would become insolvent if they were unable to pay their obligations as they became due. -- 142.242.2.248 19:08, 5 January 2006 (UTC)
Could someone who knows company law confirm that in adminstration and in administrative receivership are indeed the same thing, please? (see also talk:Administration). -- Concrete Cowboy 21:02, 22 September 2006 (UTC)
It is a rambling mess at present, with different editors contradicting each other. It really needs separate sections for each of US,Candada, SA, Australia, UK and so on. -- Concrete Cowboy 01:17, 23 March 2007 (UTC)
We don't list Ingratitude alongside Gratitude, nor do we list Inhospitality as well as Hospitality. Insolvency is the opposite of solvency and so, following established patterning, the article should be moved to solvency with an appropriate redirection page.
'Insolvency is a financial condition experienced by a person or business entity when their assets no longer exceed their liabilities'.
Er, how can assets exceed liabilities, or liabilities exceed assets? (Hint: Why is a balance sheet called a 'balance' sheet?) edward (buckner) 07:55, 19 September 2007 (UTC)
As stated in this article, the distinction between UK and US law is entirely incorrect. I don't know whether the statement about UK law is accurate, but in the US, payments to creditors may be voidable if made (1) while the debtor is insolvent; and (2) within 90 days of bankruptcy filing or within one year of filing if the beneficiary is an insider. Thus, in the US, both insolvency and the date of filing are relevant. See 11 U.S.C. 547(b). Also, such payments are not problematic if the creditor is secured for an amount greater than or equal to the payment. Id. The article also muddles the distinction between gifts and payments to creditors. Payments to creditors are generally regulated by section 547 of the bankruptcy code, while gifts are regulated by section 548 and state law (usually the Uniform Fraudulent Transfer Act). Section 548 can be used to void gifts made while the debtor was insolvent or gifts that render the debtor insolvent, but only if they are made within 2 years of filing. Again, insolvency and date of filing are relevant. The section about preferences should either be revised so that it is not completely inaccurate, expanded to reflect the differences between fraudulent conveyances and preferential treatment, or deleted. Alternately, the article could link to a separate section on these issues.-- Nate2700 ( talk) 15:56, 29 December 2007 (UTC)
Section on Costs of an IVA removed as it is covered in the Individual Voluntary Arrangement page in context and is a UK specific item MrGWilson ( talk) 11:28, 11 January 2010 (UTC)
This article is rated C-class on Wikipedia's
content assessment scale. It is of interest to the following WikiProjects: | ||||||||||||||||||||||||||||||||||
|
-- 208.228.181.183 ( talk) 11:47, 25 April 2008 (UTC)
The examples and perspective in this article may not represent a
worldwide view of the subject. |
I seem to recall Insolvency has a specific meaning in the U.K that is more akin to U.S. Bankruptcy than is stated by the the US-centric dictionary definition in this article. Flawiki 01:36, 28 Dec 2004 (UTC)
The UK/US use the same terms of art - but in different ways - we need to be clear what we are defining - I suspect that we have a clear US page - which is simply incorrect in the UK - perhaps we need to split it into regional areas - tagging what we have as US (or whatever) - and then opening up a new UK etc section as appropriate. Brookie 09:10, 8 Mar 2005 (UTC)
I don't think the definition of insolvency in this article is quite right. Having liabilities that exceed your assets isn't good, but doesn't neccessarily mean you're insolvent. Students that work their way through university on student loans usually have a negative net worth, upon graduation, but it wouldn't be correct to say they're insolvent. They would become insolvent if they were unable to pay their obligations as they became due. -- 142.242.2.248 19:08, 5 January 2006 (UTC)
Could someone who knows company law confirm that in adminstration and in administrative receivership are indeed the same thing, please? (see also talk:Administration). -- Concrete Cowboy 21:02, 22 September 2006 (UTC)
It is a rambling mess at present, with different editors contradicting each other. It really needs separate sections for each of US,Candada, SA, Australia, UK and so on. -- Concrete Cowboy 01:17, 23 March 2007 (UTC)
We don't list Ingratitude alongside Gratitude, nor do we list Inhospitality as well as Hospitality. Insolvency is the opposite of solvency and so, following established patterning, the article should be moved to solvency with an appropriate redirection page.
'Insolvency is a financial condition experienced by a person or business entity when their assets no longer exceed their liabilities'.
Er, how can assets exceed liabilities, or liabilities exceed assets? (Hint: Why is a balance sheet called a 'balance' sheet?) edward (buckner) 07:55, 19 September 2007 (UTC)
As stated in this article, the distinction between UK and US law is entirely incorrect. I don't know whether the statement about UK law is accurate, but in the US, payments to creditors may be voidable if made (1) while the debtor is insolvent; and (2) within 90 days of bankruptcy filing or within one year of filing if the beneficiary is an insider. Thus, in the US, both insolvency and the date of filing are relevant. See 11 U.S.C. 547(b). Also, such payments are not problematic if the creditor is secured for an amount greater than or equal to the payment. Id. The article also muddles the distinction between gifts and payments to creditors. Payments to creditors are generally regulated by section 547 of the bankruptcy code, while gifts are regulated by section 548 and state law (usually the Uniform Fraudulent Transfer Act). Section 548 can be used to void gifts made while the debtor was insolvent or gifts that render the debtor insolvent, but only if they are made within 2 years of filing. Again, insolvency and date of filing are relevant. The section about preferences should either be revised so that it is not completely inaccurate, expanded to reflect the differences between fraudulent conveyances and preferential treatment, or deleted. Alternately, the article could link to a separate section on these issues.-- Nate2700 ( talk) 15:56, 29 December 2007 (UTC)
Section on Costs of an IVA removed as it is covered in the Individual Voluntary Arrangement page in context and is a UK specific item MrGWilson ( talk) 11:28, 11 January 2010 (UTC)