The quick answer
It depends on what type of insolvency procedure you are in but usually, the insolvency lasts about one year.
In more detail
Insolvency is split into company insolvency (sometimes called corporate insolvency) and personal insolvency.
Company
A company insolvency can be a liquidation, Administration or a Company Voluntary Arrangement (“CVA”).
A liquidation and Administration typically last for one year but can go on for longer if assets still need to be realised or creditor claims agreed.
A Company Voluntary Arrangement can last from one year to five years.
Personal
A bankruptcy usually lasts for one year maximum but can be extended.
The Trustee may be appointed for longer than the bankruptcy period to allow time to realise assets such as a former family home.
An Individual Voluntary Arrangement (“IVA”) last from usually one year to a maximum of five but can be extended further to realise assets.
