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Insolvency Act 1986

The Insolvency Act from 1986 is the primary legal platform for all insolvency matters, be they personal or corporate. Although the actual text of the Insolvency Act had not changed since 1986, elements of it had been updated over the time. One of the most important updates is the Enterprise Act from the year 2002, which introduced a very popular matter: the administration of insolvency without involving the court. The 1986 Insolvency Act is very detailed, and it has 19 parts, these are grouped into a few very important titles: Companies Winding Up, Insolvency of Individuals - Bankruptcy and Miscellaneous Matters which covers all those matters which do not belong to the previous groups. Although this act is the primary legislation when it comes to insolvency, it is important to know the other relevant matters like the other statutes added during the years.