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t. e. Administration in United Kingdom law is the main kind of procedure in UK insolvency law when a company is unable to pay its debts. The management of the company is usually replaced by an insolvency practitioner whose statutory duty is to rescue the company, save the business, or get the best result possible.
Great Recession. The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis. [1] [2] The crisis led to a severe economic recession, with millions of people losing their jobs and many businesses going bankrupt.
Debt moratorium. A debt moratorium is a delay in the payment of debts or obligations. The term is generally used to refer to acts by national governments. Moratory laws are usually passed at times of special political or commercial stress: for instance, on several occasions during the Franco-Prussian War, the French government passed moratory ...
The length of a moratorium period will depend on each company.In most cases, it starts a few days before a natural disaster is expected to impact an area and ends once the disaster has passed.Your ...
COB – Close of Business. COC – Cost of Credit [2] or Cost of Capital [3] COD – Cost of Debt [4] or Cash on Delivery. COE – Center of Excellence or Cost of Equity [5] COGS – Cost of Goods Sold. Corp. – Corporation. COO – Chief Operating Officer. CPA – Certified Public Accountant. CPI – Consumer Price Index.
Forbearance. Forbearance, in the context of a mortgage process, is a special agreement between the lender and the borrower to delay a foreclosure. The literal meaning of forbearance is "holding back". [1] This is also referred to as mortgage moratorium .
t. e. In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event [1] such as the outcome of a pending lawsuit. These liabilities are not recorded in a company's accounts and shown in the balance sheet when both probable and reasonably estimable as 'contingency ...
Under UK insolvency law an insolvent company can enter into a company voluntary arrangement (CVA). The CVA is a form of composition, similar to the personal IVA (individual voluntary arrangement), where an insolvency procedure allows a company with debt problems or that is insolvent to reach a voluntary agreement with its business creditors regarding repayment of all, or part of its corporate ...