B

Bailiff

There are different kinds of bailiffs, known as:

• ‘certificated enforcement agents’ (also known as ‘civil enforcement agents’). The term ‘bailiff’ is no longer particularly applicable in insolvency and restructuring now, as the relevant roles have been renamed;
• ‘high court enforcement officers’;
• ‘county court and family court bailiffs’;
• bailiffs who enforce magistrates’ court fines and warrants for arrests (either ‘civilian enforcement officers’ or ‘approved enforcement agents’).

[See ‘Certificated Enforcement Agents’ and ‘High Court Enforcement Officers’.]

Balance of Probabilities

This is a legal ‘burden of proof’ that must be met by a person proving a ‘civil claim’ (one which seeks a civil remedy, such as a payment of compensation, or augmentation of an insolvent estate’s fund for the benefit of creditors) against a company or individual.

It is regarded as being easier to prove than its criminal counterpart, ‘beyond reasonable doubt’.

Examples of a civil action are breach of fiduciary duty and an action for restoration for a transaction at an undervalue or a preference.

Proving on a balance of probabilities is often (maybe unhelpfully) explained as ‘proving something is more probable than not’.

[See ‘Burden of Proof’ and ‘Beyond Reasonable Doubt’.]

Balance Sheet Solvent

The balance sheet of a company provides a summary of all the assets and liabilities it holds. A company is considered solvent if the realisable value of its assets is greater than its liabilities.