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Insolvency Act 2014

What does the Insolvency Act do?
There are lots of enactments in the Insolvency Act 1986 around winding up procedures.
Creditors can issue a winding up petition that aims to force a business into closing down for good, if that company owes them money but cannot pay them back.
What is the Insolvency Act 2015?
AN ACT of Parliament to amend and consolidate the law relating to the insolvency of natural persons and incorporated and unincorporated bodies; to provide for and to regulate the bankruptcy of natural persons; to provide alternative procedures to bankruptcy that will enable the affairs of insolvent natural persons to
What is the law of insolvency?
The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.
The Insolvency and Bankruptcy Code, 2015 was introduced in Lok Sabha in December 2015.
Since the Bankruptcy Act 1542 a key principle of insolvency law has been that losses are shared among creditors proportionately.
Creditors who fall into the same class will share proportionally in the losses (e.g. each creditor gets 50 pence for each £1 she is owed).

What does the Insolvency Act do?