From The Jolly Contrarian
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| '''Bankruptcy'''. A party:
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| {{l1}}'''Dissolved''': is dissolved (other than by merger);<li>
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| '''Insolvent''': becomes insolvent, unable to pay its debts, or admits it in writing;<li>'''Composition''': makes a composition with its creditors;<li>
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| '''Proceedings''': suffers insolvency proceedings instituted by:
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| {{L2}} a regulator; or<li>
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| anyone other than a regulator, and
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| {{L3}} it results in a winding up order; or <li>
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| those proceedings are not discharged within 15 days;</ol></ol><li>
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| '''Winding Up''': resolves to wind itself up (other than by merger); <li>
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| '''Administration''': has an administrator, provisional liquidator, or similar appointed for it or for substantially all its assets; <li>
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| '''Security Exercised''': has a secured party take possession of, or a legal process is enforced against, substantially all its assets for at 15 days without a court dismissing it; <li>
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| '''Similar events''': suffers any event which, under the laws of any jurisdiction, has the same effect as any of the above events; or <li>
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| '''Takes steps''': takes any action towards any of the above events. <br>
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| </ol>
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Latest revision as of 16:01, 9 January 2024