Corporate insolvency (1)

A company will be deemed insolvent if it unable to pay its debts as they fall due, or if its liabilities exceed its assets. If the company is insolvent (or is facing insolvency), an insolvency procedure known as liquidation (or winding up) may be instigated. This process may be undertaken either voluntarily or by the initiation of court proceedings. This quiz tests your knowledge of the language of corporate insolvency.

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