Glossary
T
Trading Out
In an insolvency context, trading out is where a company manages to continue trading (whilst insolvent) and recovers from this to a solvent position.
Transactions At An Undervalue (TAAU)
A transaction at an undervalue is where a company’s asset is transferred or sold to another party for little or no consideration, that is not reflective on the assets value.
Trustee in Bankruptcy
The Trustee in Bankruptcy is an Insolvency Practitioner appointed to deal with any assets of a trustee and distribute any available funds to the estates creditors.
Turnaround Practitioner
A turnaround practitioner is a person who is appointed to return an insolvent or potentially insolvent business to operational and financial stability, whilst maximising all stakeholders’ interests.
Turnover
Turnover is the sales (or other source of revenue) of a business.
