This note aims to: • provide practical guidance to creditors owed money by a distressed/insolvent company • explain the position of creditors in most types of corporate...
This Practice Note looks at independent business reviews (IBRs) and aims to: • provide high level guidance around an IBR • identify when an IBR may be requested •...
This Practice Note has been archived and is not maintained. Introduction The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 were published and laid...
This Practice Note sets out certain key cases and associated relevant content in relation to acceleration of debt and enforcement of security. The cases are divided by...
Administration is a procedure designed to give an entity breathing space, with a view to either a rescue or a restructure or to allow for a better outcome for all...
During the term of a facility, the borrower's financial position is likely to fluctuate. Sometimes, its circumstances change to such an extent that it wants the terms of...
Reasons for amending security documents and key risks Reasons for amending a security document There are situations where parties may consider amending security...
Brexit: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For guidance, see...
General duty of liquidators and administrators where there has been an unlawful transaction If, during the course of a liquidator's or administrator's investigations into...
. Avoiding floating charges—the conditions required Under section 245 of the Insolvency Act 1986 (IA 1986), there are provisions for liquidators and administrators to set...
Bankruptcy searches at the Land Charges Department When a bankruptcy petition is presented by a creditor, the court shall as soon as reasonably practicable send to the...
Brexit impact This Practice Note is impacted by the decision of the UK on 23 June 2016 to leave the European Union. For further details of the impact on the Recast...
It's important to consider the underlying finance documents to determine the requisite majorities of creditors which can block certain actions necessary to maintain an...
Introduction This Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the Insolvency Act 1986...
What is subrogation? Subrogation is an equitable mechanism aimed at preventing unjust enrichment by permitting one party to ‘step into the shoes’ of another and to bring...
In December 2015, Newey J sanctioned a scheme of arrangement for part of the Spanish Codere group, in an interesting case of good forum shopping. Brexit impact This...
