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The Housing and Planning Act 2016 introduces a range of housing and planning related reforms, including a special administration regime for registered providers of social housing at risk of insolvency proceedings, which places their affairs under the management of a housing administrator appointed by the court. Kate Cook, senior knowledge lawyer in the Housing Finance Team at Addleshaw Goddard LLP, discusses the key features and objectives of housing administration.
Housing administration was introduced by Part 4, Chapter 5 of Schedule 5 to the Housing and Planning Act 2016 (HPA 2016). It was the brainchild of the regulator of social housing (the regulator) which felt it needed wider reaching powers to deal with the insolvency of a large or complex private registered provider (RP) of social housing. This came about due to lessons learned from the near failure of Cosmopolitan Housing Group and RPs’ increased diversification, debt levels and exposure to the housing market.
The key features of housing administration are:
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Anna joined the Restructuring and Insolvency team at Lexis®PSL in August 2013 from Berwin Leighton Paisner where she was a senior associate in the Restructuring Team.
Anna has worked on a number of large scale restructurings primarily in the UK market acting on behalf of lending institutions.
Recent transactions include the restructuring of a UK hotel chain and the administration sale of part of the Connaught group. Anna has also spent time on secondment at The Royal Bank of Scotland and trained at Clifford Chance qualifying in 2007.
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