A comprehensive overview of personal and corporate insolvency procedures in the UK, contrasting the unlimited liability of sole traders and partners with the limited liability of company directors and shareholders. The first source focuses on personal insolvency options like Bankruptcy, Individual Voluntary Arrangements (IVAs), and debt negotiation, outlining the process, legal effects, and consequences of each. The second source covers corporate insolvency mechanisms, including Administration, Company Voluntary Arrangements (CVAs), and various forms of Liquidation (Compulsory, Creditors' Voluntary, and Members' Voluntary), detailing the criteria for insolvency and the roles of administrators and liquidators. Finally, the third source explains clawback provisions, which allow insolvency practitioners to challenge pre-insolvency transactions such as Preferences and Transactions at an Undervalue to recover assets for the general body of creditors, alongside the rules for setting aside floating charges and ring-fencing funds for unsecured creditors.