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Brexit
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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Helping restructuring and insolvency professionals stay up-to-date with legal and market developments, and work faster and smarter.
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Our Restructuring & Insolvency Experts
Marcia Shekerdemian
David Kerr
Lesley Anderson
Peter Declercq
Joseph Curl
Latest Restructuring & Insolvency News
Restructuring & Insolvency analysis: This was an application for an injunction to restrain presentation of a winding up petition. The respondent was a...
This week's edition of Restructuring & Insolvency weekly highlights includes: the publication by the Insolvency Service of its monthly insolvency...
Restructuring & Insolvency analysis: The court dismissed the applicants’ applications to remove and replace the joint administrators. The...
Restructuring & Insolvency analysis: The Court of Appeal has confirmed that the authority to bind a firm for the purposes of its winding up (conferred...
The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note—‘Requisitioned decisions'. This Practice Note...
Latest Restructuring & Insolvency Practice Notes
Special administration regimes—quick guideSpecial administration regimesA special administration regime is a modified insolvency procedure that gives...
Establishing jurisdiction and sufficient connection for schemes of arrangementThis Practice Note should be read in conjunction with Practice Note:...
Intercreditor agreements for R&I lawyersRationaleThe importance of intercreditor agreements has grown with the increased use of different layers of...
Company voluntary arrangement case trackerCompany voluntary arrangements (CVAs) are often used by companies to facilitate a restructuring (see:...
Failure of the company voluntary arrangement (CVA)There is no definition of ‘failure’ of a company voluntary arrangement (CVA) in the Insolvency Act...
Latest Restructuring & Insolvency Precedents
Special administration—special administrators’ progress report[investment bank name] (in special administration)[Joint] Special Administrators’...
Asset purchase agreement—administration saleThis Agreement is made on [insert day and month] 20[insert year]Parties1[Insert name of company in...
Asset sale agreement—non-going concern saleThis Agreement is made on [insert day and month] 20 [insert year]Parties1[Insert name of company in...
Proposal for voluntary arrangement made by administrator of the companyIN THE MATTER OF [company name] (in administration)PURSUANT TO SECTION 1 OF THE...
Special Administrators’ proposals[Investment Bank name](in Special Administration)Special Administrators’ Proposals for achieving the purpose of the...
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
Floating charge (or Bond and Floating Charge)
Scotland uses a stand-alone floating charge, rather than including a floating charge in a debenture. The Bond refers to the debt obligation for which the security is given, and if not provided for in the floating charge document there needs to be a separate personal bond document. Often, however, the floating charge is drafted to include a bond, and so referred to as a bond and floating charge. Unlike England, it is possible to have a floating charge over the same assets at the same time as a fixed charge (eg Standard Security). This means that where a borrower provides an English debenture but has assets in Scotland, the wording of an English debenture floating charge needs to be checked to make sure it is compliant with Scots law floating charges
Forum shopping
The practice of choosing a specific jurisdiction favourable to an anticipated restructuring/insolvency, usually by moving COMI (centre of main interests).
Ipso facto
Clauses providing for termination on the occurrence of certain events eg insolvency or negotiations with creditors.
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