All Posts By

Elissa Jelowicki

Debt collection

How Assets are distributed to Creditors through Corporate Insolvency

General principles of asset distribution in insolvency (UK) By definition, an insolvent company does not have sufficient assets to pay in full all the liabilities that it owes to its creditors. Accordingly, one of the primary functions of both administration and liquidation of a company is to realise the assets of the insolvent company and to distribute those case realisations made from those assets among the insolvent company's creditors. The Insolvency Act 1986 and Insolvency…
Elissa Jelowicki
February 25, 2015
Starting BusinessStarting or Expanding Business

Starting a New Business in the UK

How to Incorporate a Company. What You Need to Know Are you thinking about establishing a business in the UK? Where do you start? This note will give you a brief understanding of the Companies Act 2006 and what you need to know in order to set up a business in the UK. The Companies Act 2006 provides for three types of companies to be established: Company limited by shares; Company limited by guarantee; and…
Elissa Jelowicki
November 13, 2014
Debt collection

Need to Chase a Debt in the UK but Fear the Debtor is Insolvent?

Your quick guide to the basics of Personal Insolvency in the UK The two main insolvency procedures available to insolvent individuals in England and Wales are: (i) Bankruptcy and (ii) Individual voluntary arrangements. This note will focus on bankruptcy and not individual voluntary arrangements. What is bankruptcy? Bankruptcy is a process by which the assets of a debtor are realised and distributed amongst his creditors. The main features of a bankruptcy are: The debtor's beneficial…
Elissa Jelowicki
November 13, 2014