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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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The Insolvency Service has updated its enforcement outcomes management information for February 2025 2025. The data shows that there were 86 director...
Restructuring & Insolvency analysis: The case arose from a claim with a significant error: it was brought against the wrong party. Furthermore, that...
This week's edition of Restructuring & Insolvency weekly highlights includes: a discussion on the Court of Justice of the European Union’s (CJEU)...
The Insolvency Service has announced the seven-year directorship disqualifications for George and Williamina Hay, directors of DWH Trading Ltd. The...
Restructuring & Insolvency analysis: This judgment concerned two consolidated proof of debt adjudication appeals. In determining those appeals, the...
Current issues and legal reforms for restructuring and insolvency professionalsThis Practice Note discusses current issues and legal reforms (with...
Tracker of Part 26 scheme/Part 26A restructuring plan hearing dates 2025This Practice Note tracks some key hearing dates proposed or listed in the...
Insurance business transfer schemesConsistent with the common law of contract, an insurer is not able to transfer the burden of its obligations under...
Informal creditors' committee in a restructuringIn many restructurings, informal (ad hoc or unofficial) creditors' committees are formed as opposed to...
Scotland: the Accountant in BankruptcyThe office of the Accountant in Bankruptcy (AiB) was originally created by section 156 of the Bankruptcy...
Form of proxy in a restructuring plan: creditors/membersClaim No. [insert claim number].[IN THE HIGH COURT OF JUSTICE][BUSINESS AND PROPERTY COURTS...
Sanctioning order for restructuring planCourt Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICE][BUSINESS AND PROPERTY COURTS] [OF...
Witness statement in support of an application for a Part 26A restructuring planOn behalf of: ApplicantBy: [insert name]No: 1Exhibits: [insert...
Special administration—distribution orderCourt Reference No:[ INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS [OF...
Director’s proposal for a CVACourt Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS [OF ENGLAND AND...
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 madeCoronavirus (COVID-19)This content is affected...
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 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 liquidationDissolution marks the end of a company’s life. It...
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 SolicitorBona vacantia means ‘goods without an owner’ and is a relevant consideration where...
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 agreementWhen restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of...
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?DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee...
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 administratorThe role, powers and duties of an appointed administrator are set out in the Insolvency Act 1986...
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 2016The primary...
Schemes of arrangement—process and statutory frameworkSchemes of arrangement—definition and basis in statuteA scheme of arrangement is a...
The order issued by a sheriff following a petition lodged by a creditor or by the AiB following an application for sequestration by the debtor declaring a person to be bankrupt and sequestrating their estate. The Award vests the debtor’s estate in the trustee
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
means an agreement between the Parties to implement a plan to restructure the Company’s business and debts