Talk:Insolvency
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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)
- Given the important differences I think it would be grand if the article were sectioned or even refactored into jurisdictions or in whatever way could make it more useful to UK users who I suspect are not now adequately served by the USian orientation. I, for one, would welcome its major rework towards that end as it strikes me as being terribly important that en.wiki appeal to all English speakers, not just those on the southern part this side of the pond. Flawiki 05:08, 9 Mar 2005 (UTC)
- Agreed. However I felt it worthwhile to add the UCC definition of the term to the article, perhaps as a prelude to refactoring. Ellsworth 23:54, 3 November 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)
- No, liabilities greater than assets is known as balance-sheet insolvency, and unable to pay debts when due is known as cash-flow insolvency (I've put these in the article). The latter is usually the grounds on which a creditor will force a debtor into a formal legal insolvency proceeding, but the former is normally the grounds when a debtor chooses to enter such a procedure themselves (but they don't have to of course).--Cuddlyopedia 11:13, 11 Janaury 2006 (UTC)
- Most dictionaries I've read tend to use "balance sheet" insolvency as the definition, however the cash-flow definition would be more accurate for insolvency in the real world. There's an Australian Court decision which declared a company is insolvent if it is unable to pay it's debts as and when they fall due.--DementedFreak 23 Janaury 2006
[edit] administrative receivership
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)
- This is now a separate article (with the question answered) at Administration of an insolvent business‎. --Concrete Cowboy 00:59, 10 January 2007 (UTC)
- This separate article has been renamed to Administration (insolvency) --Concrete Cowboy 00:13, 11 February 2007 (UTC)
[edit] Need to restructure this article by jurisdiction
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)
