6 : Cover Schedule (aka the Bond) :

This is a mandatory form of insurance that the insolvency legislation demands all licensed Insolvency Practitioners to take out in respect of each client or case. Basically, it is to insure creditors in the event of any Insolvency Practitioner absconding with any client/case funds that they hold.

Click on the word or phrase to find a straightforward explanation rather than the exact legal definition.

Jargon Selection Associates Charging Order Company Voluntary Agreement (CVA) Composition Compulsory Liquidation Connected Party Cover Schedule (aka Bond) Creditor Creditors' Committee Directors Disqualification Extortionate Credit Transactions Insolvency Insolvency Practitioner (IP) Liquidator Moratorium Nominee Office Holder Official Receiver (OR) Preference Proxy Proxyholder Statutory Demand Supervisor Transaction at an Undervalue

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