Eleanor Stephens

This Q&A considers the position of a claimant former employee where the employer becomes insolvent. It also considers the position of the employer's insurer.

This Q&A considers whether a satisfied statutory demand can be relied on for the presentation of a bankruptcy petition where further sums have become due from the debtor to the creditor in the intervening period.

This Q&A considers whether a company in members’ voluntary liquidation that is no longer trading can continue to issue VAT invoices.

This Q&A considers whether a claimant may pursue either a discharged bankrupt or the bankruptcy estate for a professional negligence claim that arose pre-bankruptcy.

This Q&A considers whether a creditor can assign their debt to a third party in an administration estate.

This Q&A considers the scope of section 423 of the Insolvency Act 1986 (transactions defrauding creditors) to recover monies owed under a judgment debt in specific circumstances.

This Q&A considers whether holiday pay ranks as an expense of administration for furloughed employees.

This Q&A considers whether the new moratorium introduced by the Corporate and Insolvency Governance Act 2020 apply to un-liquidated claims for compensation (for example, for discrimination) prior to the commencement of the moratorium.

This Q&A considers whether, if an individual enters into an IVA and owns a property, any restrictions will be placed on the property to prevent its disposal during the IVA.

This Q&A considers the intricacies of winding up an insurance company, including the relevant regulatory authorities.

This Q&A considers what a liquidator is required to file in a CVL.

In order for a creditors’ committee to be formed in an administration, is a decision of the creditors (by way of a resolution passed by over 50% of creditors) required?Formal creditors’ committees are often formed in large or complex formal insolvencies including in administrations and are often consulted by the relevant office holder on key issues as they provide a useful sounding board.Generally, there will be between three and five members in a committee, usually consisting of the creditors with the largest exposure to the company and so have the greatest interest in the conduct of the insolvency proceedings. Each member of the committee has one vote and an odd number of committee members is usually chosen to avoid any deadlock on voting. If a creditor's claim is later rejected, they can no longer serve on the creditors' committee. For more details on formal creditors’ committees in general, see Practice Note: Formal creditors’ committees.In order to establish a creditors committee in administration, creditors must approve the proposal to establish a creditors’ committee under paragraph 57 of Schedule B1 to the Insolvency Act 1986, using the standard relevant decision making procedure for creditors, which is set out in the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, Pt 15. For full details on this procedure, see Practice Note: Creditors' decision procedures in administration.Eligibility to vote as a creditor is set out under IR 2016, SI 2016/1024, r 15.31, and a decision is made by creditors when a majority (in value) of those voting have voted in favour of the proposed decision, (except where provided otherwise), as set out under IR 2016, SI 2016/1024, r 15.34.The establishment of the committee once a proposal by the creditors is received by the administrator is then effected by the administrator using the procedure under IR 2016, SI 2016/1024, r 17.5. This includes (among others) obtaining agreement of the proposed members (for which, see IR 2016, SI 2016/1024, r 17.4(4), and filing a certificate with the Registrar of Companies. Changes in the committee must be notified to the Registrar of Companies as soon as reasonably practicable after the change.Where there is competition for the vacancies on the committee the process of election to the committee involves the taking of a poll; the creditors with the most support in value on a single ballot are elected to the relevant vacancies. See Re Polly Peck International plc

This Q&A considers whether, in relation to the appeal against decision on proof under the Insolvency (England and Wales) Rules 2016, SI 2016/1024, r 14.8(2), the 21-day deadline is based on clear days, business days or just standard days.

This Q&A considers the law relating to duration and termination of LPA/fixed charge receiverships.

This Q&A considers whether a court can refuse to make a winding up order on the basis that the petitioning creditor has failed to accept an offer that no reasonable petitioning creditor in its position would have refused.

This Q&A considers whether a foreign limited partnership may be put into administration in the UK.

This Q&A considers whether a liquidator seeking to take a second charge or a charging order over a director's property as security for a debt owed by the director may be subject to the Consumer Credit legislation.

This Q&A looks at the obligations on a company when entering into CVL.

This Q&A considers the obligations of a company involved in litigation, which may shortly go into administration.

This Q&A considers whether a connected purchaser may obtain multiple evaluator reports if the first is unvafourable.