Here are some terms relating to the various individual roles that you are likely to come across during a Corporate Recovery procedure:
Creditor – An individual who is owed money.
Debtor – A person who owes money or who has been made bankrupt.
Insolvency Practitioner – An individual authorised by a chartered accountancy body to act as office holder in an insolvency proceeding.
Here are some of the more technical terms that may crop up over the course of a Corporate Recovery procedure for business rescue: