IVA Glossary - Reservation of Title Agreement

Reservation of Title or Retention of Title Agreement An agreement for the sale of goods to a company, being an agreement; (a) which does not constitute a charge on the goods, but (b) under which, if the seller is not paid and the company is wound up, the seller will have priority over all other creditors of the company in respect to the goods or any property representing the goods. The administration of the insolvent estate of a deceased debtor. County court process permitting an individual with modest debts to pay off instalments. No insolvency practitioner is involved. (Please Note: The definitions are not intended to be exhaustive summaries of the Law. They are based on material from The Insolvency Act 1986 , and other Acts dealing with this subject.) <Back to the glossary

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