insolvency administration

Insolvency administration is a legal process that helps a company or individual manage their debts when they cannot pay what they owe. A court or appointed official oversees the process, evaluating the debtor’s financial situation and arranging ways to settle debts, such as restructuring or selling assets. The goal is to ensure fair treatment of creditors, minimize losses, and provide an organized path toward financial resolution. It’s a formal procedure designed to handle insolvency responsibly, offering a structured effort to resolve debt problems fairly for all parties involved.