Insolvency proceedings end when the insolvency court’s decision becomes final. Depending on how they progress, insolvency proceedings may end in a non-substantive resolution (i.e. insolvency is not established or, alternatively, has been detected but the insolvency proceedings cannot be continued due to other procedural circumstances) or in a substantive resolution, in which case the procedure under the method selected to handle the insolvency is brought to completion.
Depending on the method for handling the insolvency, the court orders the bankruptcy proceedings to be discontinued or issues a resolution taking note of the fulfilment of the reorganisation plan or debt relief. If the result is a non-substantive resolution, this means that the insolvency petition has been dismissed or rejected, or that the insolvency proceedings have been terminated.
Completion of bankruptcy proceedings
Completion of reorganisation
Completion of debt relief