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Brexit is a significant subject for R&I lawyers due to the reciprocal nature of our relationship with Europe. Our Brexit content offers key information and updates for all practitioners, as well as legislation trackers.
Corporate Insolvency and Governance Act 2020
Includes new legislation due to coronavirus. Temporary provisions centre around winding-up petitions, wrongful trading and ipso facto clauses. Permanent changes include the creation of two corporate insolvency processes.
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Get country guides for 45 jurisdictions – the majority are from our Getting the Deal Through series. Where there are jurisdictional gaps, we have commissioned content, and have created several comparison tables.
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Latest Restructuring & Insolvency News
The Insolvency Service has banned Lukas Horvath, director of Storm Hand Car Wash in Sheffield, from acting as a company director for eight years,...
The Insolvency Practitioners (Amendment and Transitional Provisions) Regulations 2024 make significant reforms to the Insolvency Practitioner bonding...
Restructuring & Insolvency analysis: The European Court of Justice provided helpful clarity on the test to be applied when ascertaining an...
Restructuring & Insolvency analysis: The applicant liquidators had obtained freezing orders at an ex parte hearing in furtherance of their claim under...
Law360: The Civil Justice Council has indicated that it is weighing whether the time has come to regulate litigation funding and cap fees, as the...
Latest Restructuring & Insolvency Practice Notes
Erroneous satisfaction of charge filings—what are the priority implications?It is not uncommon for a company that has granted a charge over its assets...
Guarantees—key casesThe case law behind guarantees is both long-standing and complex. It is imperative to have a good understanding of the principles...
Key restructuring and insolvency industry bodiesThis Practice Note provides an overview of the key restructuring and insolvency industry, government...
Part 26A restructuring plan deal debrief—SGB-SMIT GmbHSGB-SMIT GmbH applied for a Part 26A restructuring plan (RP) at a convening hearing in April...
Role, powers, functions and duties of an administratorThe role, functions, powers and duties of an administrator are set out in the Insolvency Act...
Latest Restructuring & Insolvency Precedents
Appointment of LPA/fixed charge receiverDate [insert date of appointment]Parties1[insert name of Lender] of [insert address] [incorporated in England...
Application notice for permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the Insolvency Act 1986Note: This...
Witness statement in support of an application for permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the...
Deed of novation: for an unsecured bilateral facility agreementThis Deed is made on [insert day and month] 20[insert year]Parties1[insert name of...
Waiver letter: for a bilateral facility agreement—waiving breach of facility agreement[To be printed on the headed paper of the lender][insert...
Latest Restructuring & Insolvency Q&As
Featured Restructuring & Insolvency content
Role, powers, functions and duties of a liquidator
Role, powers, functions and duties of a liquidatorThe role and function of a liquidatorA liquidator is the officer appointed when a company goes into...
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeCoronavirus (COVID-19)This content is affected...
Bonds and notes
Bonds and notesThe terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be...
Obtaining Official Copies from HM Land Registry
Obtaining Official Copies from HM Land RegistryThis Practice Note provides guidance in obtaining official copies of the entries on the title of a...
Dissolution of a company following compulsory liquidation or creditors' voluntary liquidation
Dissolution of a company following compulsory liquidation or creditors' voluntary liquidationDissolution marks the end of a company’s life. It...
Bankruptcy searches
Bankruptcy searchesBankruptcy searches at the Land Charges DepartmentWhen a bankruptcy petition is presented by a creditor, the court shall as soon as...
Dissolution and bona vacantia—dealing with the Treasury Solicitor
Dissolution and bona vacantia—dealing with the Treasury SolicitorBona vacantia means ‘goods without an owner’ and is a relevant consideration where...
Cashflow and balance sheet tests for insolvency
Cashflow and balance sheet tests for insolvencyIntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and...
Key elements of a standstill agreement
Key elements of a standstill agreementWhen restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of...
What are COMI proceedings?
Scotland: protected trust deeds
Scotland: protected trust deedsTrust deeds have, for many years, been utilised by debtors as a means of reaching a compromise with their creditors as...
What is considered onerous property or contracts?
What is considered onerous property or contracts?DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee...
Recapitalisations
RecapitalisationsThe term 'recapitalisation' refers to a company changing the proportions of its debt and equity, something which can be achieved in a...
Role, powers, functions and duties of an administrator
Role, powers, functions and duties of an administratorThe role, powers and duties of an appointed administrator are set out in the Insolvency Act 1986...
How do you convert inter-company debt into equity? What are the advantages and disadvantages for the company and its shareholders?
The effect of a bankruptcy order on an individual voluntary arrangement (IVA), its assets, and the creditors
The effect of a bankruptcy order on an individual voluntary arrangement (IVA), its assets, and the creditorsThe gap in the insolvency legislationIt is...
The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016
The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary...
Schemes of arrangement—process and statutory framework
Schemes of arrangement—process and statutory frameworkSchemes of arrangement—definition and basis in statuteA scheme of arrangement is a...
Associated legal terms
Absolute insolvency
Where an individual debtor's debts exceed the total value of assets
Acquirenda
Any property or right acquired or received by a debtor for a period of four years after the date of sequestration. Prior to 1 April 2015, the period for acquirenda finished when the debtor was discharged from sequestration
Interim attachment
Process (similar to diligence on the dependence) which restricts the debtor's ability to deal with a limited range of moveable assets in their possession while a court action progresses
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