Insolvency proceedings available in respect of companies are governed by the Insolvency Act 1986 as amended by the Enterprise Act 2002. The main types of insolvency proceedings which may be taken in respect of companies are liquidation (or winding up), whether effected under a court order, or voluntarily following a resolution passed by a general meeting of the company; company voluntary arrangements made by a company with its creditors (with or without approval of the court); and administration proceedings. The principal difference between these is …