Abstract
Abstract Reference is quite frequently made to the ‘insolvency code’ but this is misleading; there is no codification of English insolvency law which would bear comparison with a civil law code. The term is used colloquially to refer to the general body of insolvency law, covering both personal and corporate insolvency, which derives from a number of different sources. The term is also sometimes used more specifically to refer to the rules dealing with the ranking and priority of creditors.
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