A creditor commences winding-up proceedings against a debtor company on the basis that the company is insolvent. The petition debt relates to ...

When a creditor believes a debt will not be repaid, it is removed from the creditor’s balance sheet. Since the debt cannot be carried on the creditor’s books as an asset, the creditor will ...

against violations of the Act. Only under rare and complex situations does the FTC usually get involved in enforcing the Act. The legal process begins when the creditor(s) files a lawsuit against the ...