When a company enters an insolvency procedure, it does so because its debts are unpayable or unsustainable. In all likelihood, creditors face losing money. There just isn’t enough to go around. And, without intervention, the impact of the company’s insolvency extends far beyond just the creditors’ loss: jobs could go and suppliers might be losing a key customer, putting their own solvency – and more jobs – at risk. The insolvency regime is there to ensure creditors’ losses and the knock-on effects of insolvency are minimised.
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