insolvency courts

Insolvency courts are specialized legal bodies that handle cases when individuals or companies cannot pay their debts. They oversee the process of resolving financial distress, which may involve reorganizing the debtor's assets or liquidating them to pay creditors. These courts aim to provide a fair and structured way to address insolvency, balancing the interests of debtors and creditors, and ensuring legal compliance throughout the process. They also supervise actions like bankruptcy filings or debt restructuring, helping bring financial order and, where possible, a fresh start for debtors.