Assignment: You are tasked to answer the following questions listed below. You are required to answer on 1 whole sheet of paper.

1. What legislation is applicable to insolvencies and reorganizations? What criteria are applied in your country to determine if a debtor is insolvent?
2. What courts are involved in the insolvency process? Are there restrictions on the matters that the courts may deal with?
3. What entities are excluded from customary insolvency proceedings and what legislation applies to them?
4. What assets are excluded from insolvency proceedings or are exempt from claims of creditors?
5. What principal types of security are taken on immoveable (real) property?
6. What principal types of security are taken on moveable (personal) property?
7. What remedies are available to unsecured creditors?
8. Are the processes difficult or time-consuming?
9. Are pre-judgment attachments available?
10. Are any special procedures apply to foreign creditors?
11. Are companies required to commence insolvency proceedings in particular circumstances?
12. If proceedings are not commenced, what liabilities can result?