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20.1 Under the Insolvency Act 1986 and the Insolvency Rules 2016,1 there are a number of regimes for insolvent or near-insolvent companies2: company voluntary arrangement, administration, administrative receivership and liquidation (compulsory and voluntary). Just as companies are creatures of statute, so, too, the law and procedure governing the insolvency and dissolution of companies is prescribed by statute. Under each regime, an individual (“the office-holder”3), or more than one, is appointed, whether by the court or otherwise, to perform functions specified by the Act.
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