A complex and wide-ranging area of law, insolvency incorporates both federal law (bankruptcy) and state laws (assignments, bulk sales, receiverships, workouts, and probates), as well as other aspects that involve both federal and state law. Insolvency Explained is a clearly written, nuts-and-bolts guide useful for lawyers and non-lawyers alike that looks at the basic issues involved and how to handle these situations.

In the first part of the book, author David J. Cook provides an accessible introduction to the fundamentals of insolvency and the requirements that are common in each type of proceeding: the claim requirements, distribution procedures, risk of claim objections, and other issues.

Of the different types of insolvency, each is a standalone process. The second part of the book discusses each type and provides a step-by-step overview, making it easy to find the exact information needed in a relevant chapter. These topics include:

• Bankruptcy
• Assignment for the benefit of creditors
• Bulk transfers
• Probates and trust proceedings
• Adjustments and workouts
• Receiverships
• Statutory funds, bonds, and mass tort funds

This book covers a lot of ground. Insolvency incorporates bankruptcy, which is federal law, and assignments for the benefit of creditors, bulk sales, receiverships, workouts, and probates, which are creatures of state law. Victim and licensee funds, bonds, and uninsured workers’ compensation funds are creatures of both federal and state law. Insolvency Explained offers insight into these areas.