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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.
International content
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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Marcia Shekerdemian
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Lesley Anderson
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Joseph Curl
Latest Restructuring & Insolvency News
The Institute of Chartered Accountants of Scotland (ICAS) reports that the Accountant in Bankruptcy has updated section 6.8 of its notes for guidance...
Restructuring & Insolvency analysis: This judgment addresses the enforceability of a scheme of arrangement under Part 26 of the Companies Act 2006...
Restructuring & Insolvency analysis: This is another decision concerning whether and when the court will make a winding up order on just and equitable...
The Insolvency Service has announced that the rollout of its new internal case management system, INSSight, will begin in late October 2025 and...
This week's edition of Restructuring & Insolvency weekly highlights includes: recently published guidance on the voluntary COVID—19 repayment scheme,...
Latest Restructuring & Insolvency Practice Notes
Schemes of arrangement and restructuring plans—class issuesThis Practice Note looks at the general principles involved in determining class issues....
Unjust enrichment—elements of the claimWhat is unjust enrichment and when is it used?A claim based on unjust enrichment is one which seeks to restore...
Apportionment arrangementsTHIS PRACTICE NOTE APPLIES TO MULTI-EMPLOYER DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESApportionment arrangements provide...
Execution formalities—under a power of attorneyThis Practice Note provides practical guidance on the proper execution of simple contracts and deeds by...
UNCITRAL model law on recognition and enforcement of insolvency-related judgments (MLIJ): Article XRationale for adopting UNCITRAL model lawsThe...
Latest Restructuring & Insolvency Precedents
Confidentiality agreement — restructuring & insolvencyThis Agreement is made [insert day and month] 20[insert year]Parties1[insert name of debtor...
Demand letter—borrower[To be printed on headed notepaper of the lender making demand]To: [Insert name of individual and/or position][insert name of...
Deed of confirmation of third party security on variation of underlying facility agreement (bilateral)This Deed is made on [date]Parties1[insert name...
Amendment agreement (letter format): for a bilateral facility agreement with or without security or a guarantee[To be printed on the headed paper of...
Reservation of rights letter: breach of bilateral facility agreement[To be printed on the headed paper of the lender][insert date]To:[insert name and...
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...
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...
Bankruptcy searches
Bankruptcy searchesBankruptcy searches at the Land Charges DepartmentWhen a bankruptcy petition is presented by a creditor, the court shall as soon as...
Basic introduction to super senior, senior, mezzanine and junior debt
Basic introduction to super senior, senior, mezzanine and junior debtThe range of funding options open to companies has exploded, resulting in a vast...
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...
How to serve a demand for payment
How to serve a demand for paymentA demand for payment is a formal demand made in accordance with the contractual requirements underpinning the...
Receivership—an introductory guide
Receivership—an introductory guideThe appointment of a receiver is a remedy for creditors and certain third parties to protect their interest in...
Debt for equity swaps
Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in...
Challenging an individual voluntary arrangement (IVA)
Challenging an individual voluntary arrangement (IVA)Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act...
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...
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...
Bankruptcy petitions—process and procedure post-presentation of the petition
Bankruptcy petitions—process and procedureBefore the hearing of the creditors’ bankruptcy petition takes place, there are a number of steps that must...
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...
Effect on proceedings against a company being wound up and after a winding-up order is made
Effect on proceedings against a company being wound up and after a winding-up order is madeThis Practice Note sets out guidance as to what happens...
Insolvency searches for companies at the Central Registry
Insolvency searches for companies at the Central RegistryWhat is the Central Registry of Winding-up Petitions?The Central Registry of Winding-up...
Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986
Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986It is possible for a claim to be brought under section 423 of the...
Role, powers, functions and duties of a trustee in bankruptcy
Role, powers, functions and duties of a trustee in bankruptcyThis Practice Note looks at the roles, powers, functions and duties of the trustee in...
Administration expenses
Administration expensesThis Practice Note provides an overview of what amounts to an administration expense and discusses key case law.Expenses of an...
Associated legal terms
Creditors' Committee
means the committee formed by the Company’s Creditors to represent the interests of the Creditors as a whole [by an agreement dated [insert date]]
Creditors’ voluntary liquidation (CVL)
Voluntary process to wind up company, an alternative to liquidation'>Compulsory liquidation.
Provisional liquidator
A court appointment, often of the official receiver, made at any time after the presentation of a winding up petition usually to protect the company's assets, preserve the company's books and records or to protect the public pending the making of a winding up order.
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