The fifth edition of "Keay's Insolvency: Personal and Corporate Law and Practice" has been updated and expanded with the latest developments in both bankruptcy and corporate insolvency law, and provides a concise and authoritative exposition of the law of insolvency. The text is divided into three main areas. Part I opens with an introduction to topical issues and examples of recent insolvencies; it then explains how insolvency is defined, how it is assessed, and its consequences. Part II and Part III examine personal insolvency under the Bankruptcy Act, covering the processes of voluntary and compulsory bankruptcy, and how a bankrupt estate is adminstered through to discharge and annulment. Non-bankruptcy administrations in the form of Part X agreements and Part IX debt agreements are also explained. Part IV and Part V provide a substantial coverage of corporate insolvency. The processes involved in the administration of liquidations, as well as such matters as voidable transactions, personal liabilities of company directors and deregistration are discussed. In light of the increase in voluntary administrations and deeds of company arrangement under Part 5.3A of the Corporations Act, extensive coverage is given to this area of law and practice, including significant decisions of the High Court, developments in litigation funding, and increased emphasis by the courts on creditor responsibility. Other areas of corporate insolvency - receivership and schemes of arrangements - are also covered in detail with the latest cases explained.