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...
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...
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...
The range of funding options open to companies has exploded, resulting in a vast array of different capital and security structures. Before the 2007/8 credit crunch, it...
The table below compares the features and benefits of a scheme of arrangement (see: Schemes of arrangement—overview) with two alternate processes available in England and...
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...
Buying the business and/or assets of a company from an insolvency practitioner (insolvent sale) is quite different from buying the business and/or assets of a company...
A company voluntary arrangement (CVA) is a binding contractual agreement between a company and its creditors. A CVA proposal must involve one or both of two things: • an...
A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or cancelling their debt...
Directors of companies which become, or are likely to become, insolvent are under a duty to maximise the return to the company’s creditors. The relevant statutory...
Duties of a director The purpose of this Practice Note is to: • set out what additional duties arise for directors when the company is insolvent (or is verging on...
From 8 December 2017, The Insolvency (Miscellaneous Amendments) Regulations 2017, SI 2017/1119 apply to modify the regimes applicable to Limited Liability Partnerships...
The purpose of this Practice Note is to: • describe section 216 of the Insolvency Act 1986 (IA 1986) • discuss the exceptions to that section • discuss how those...
This Practice Note covers: • what arrangements under Insolvency Act 1986 (IA 1986), s 110 (a s 110 arrangement) is (see: What is a s 110 arrangement?) • the rationale for...
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to...
From 8 December 2017, The Insolvency (Miscellaneous Amendments) Regulations 2017, SI 2017/1119 apply to modify the regimes applicable to Limited Liability Partnerships...