In India, bankruptcy and insolvency are generally regulated by the Insolvency and Bankruptcy Code 2016. A corporate collapse typically involves the insolvency or bankruptcy of a major business enterprise. It attempts to simplify the process of insolvency and bankruptcy proceedings. Under Swiss law, bankruptcy can be a consequence of insolvency. Administrative receivership still forms part of modern insolvency practice. Shares differ from debt in that shareholders rank last in insolvency. Financial charges such as Fraud, Insolvency, Breach of trust etc. The FSLIC pushed mergers as a way to avoid insolvency. Further restrictions apply to accountants who carry out insolvency work. Emerdata Limited is a company formed after filing for insolvency of Cambridge Analytica. Typically, an administrative receiver is an accountant with considerable experience of insolvency matters. Parties will want to avoid insolvency consequences. A breach of rules on insolvency was the main reason behind the decision. The literature proposes an important distinction between "illiquidity" and "insolvency". Current law in England and Wales derives in large part from the Insolvency Act 1986.