This Practice Note, produced in partnership with Tom Shepherd of 4 New Square, contains practical advice on dealing with suppliers and customers during a restructuring or insolvency process, including best practice in the circumstances to protect the company and directors, and how to work with retention of title clauses (also known as Romalpa clauses).
This Practice Note considers how the administrator must treat charged or secured property and when such property may be used for the benefit of the administration. Security includes property under a fixed and floating charge, a hire purchase agreement, a retention of title (ROT) agreement, a conditional sale agreement, or a chattel leasing agreement, as well as assets subject to a mortgage, charge, lien or ‘other security’. This Practice Note is produced in partnership with Tom Shepherd of 4 New Square.
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