English to Romanian Bus/Financial Law: Contract(s) contract de gestionare a afacerilor

For the purpose of this clause an "Insolvency Event" means the happening of one or more of the following events in relation to Fluency or the Client (“the Relevant Party”):
a meeting of creditors being held or an arrangement or composition with or for the benefit of its creditors (including a voluntary arrangement as defined in the Insolvency Act 1986) being proposed by or in relation to the Relevant Party;
a chargeholder, receiver, administrative receiver or other similar person taking possession of or being appointed over or any distress, execution or other process being levied or enforced (and not being discharged within seven days) on the whole or a material part of the assets of the Relevant Party;