Lexis®PSL Restructuring and Insolvency monthly highlights—February 2017

Lexis®PSL Restructuring and Insolvency monthly highlights—February 2017

February 2017 highlights from the Lexis®PSL R&I team. This month’s highlights include details of the new LN forms committee appointed to look at our new forms under the new Insolvency (England and Wales) Rules 2016 (IR 2016), plus details of our new practice notes on the IR 2016, together with a round up of other restructuring and insolvency news and cases.

In this issue:

  • Feature article: Insolvency (England and Wales) Rules 2016—forms committee named by LexisNexis
  • Feature article: Schemes of arrangement—the end of the numerosity test? (Re Dee Valley Group plc)
  • Feature article: Where is COMI and when can the administration be terminated due to improper motive? (Thomas and another v Frogmore Real Estate Partners)
  • Headlines (News updates & analysis)
  • Cases
  • Trackers
  • Dates for your diary

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    Insolvency (England and Wales) Rules 2016—forms committee named by LexisNexis

The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) remove the Insolvency Service’s obligation to prepare prescribed forms when they come into force on 6 April 2017. Despite Companies House and the Insolvency Service announcing that they will be producing certain forms, significant uncertainty remains as to what the format of many of the forms and applications under the IR 2016 should look like. This uncertainty has caused alarm to many practitioners. LexisNexis has therefore established a committee of the following leading insolvency professionals to establish standard form documents which are expected to be widely adopted across the market:

  • Chief Registrar, Stephen Baister
  • Alison Curry, Head of Regulatory Standards & Support at the Insolvency Practitioners Association
  • David Leibowitz, Restructuring and Insolvency partner at Berwin Leighton Paisner
  • Frances Coulson, Head of Insolvency and Litigation at Moon Beever
  • Jeremy Goldring QC, Barrister at South Square
  • Mark Sands, immediate Past President of the Insolvency Practitioners Association and partner at Baker Tilly Creditor Services LLP

For further details, see News Analysis: Insolvency (England and Wales) Rules 2016—forms committee named by LexisNexis.
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Schemes of arrangement—the end of the numerosity test?(Re Dee Valley Group plc)

Re Dee Valley Group plc [2017] EWHC 184 (Ch)

The High Court held in

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About the author:
Kathy specialises in restructuring and cross-border insolvency. She qualified as a solicitor in 1995 and has since worked for Weil Gotshal & Manges and Freshfields. Kathy has worked on some of the largest restructuring cases in the last decade, including Worldcom, Parmalat, Enron and Eurotunnel.