Talk:Paragraph numbering

Bankruptcy. A party:

1. Dissolved: is dissolved (other than by merger);
2. Insolvent: becomes insolvent, unable to pay its debts, or admits it in writing;
3. Composition: makes a composition with its creditors;
4. Proceedings: suffers insolvency proceedings instituted by:
   1. a regulator; or
   2. anyone other than a regulator, and
      1. it results in a winding up order; or
      2. those proceedings are not discharged within 15 days;
5. Winding Up: resolves to wind itself up (other than by merger);
6. Administration: has an administrator, provisional liquidator, or similar appointed for it or for substantially all its assets;
7. 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;
8. Similar events: suffers any event which, under the laws of any jurisdiction, has the same effect as any of the above events; or
9. Takes steps: takes any action towards any of the above events.