4 Stone Buildings

This Practice Note covers the position under the Insolvency (England and Wales) Rules 2016, SI 2016/1024 post–6 April 2017. This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, considers statutory demands in the context of corporate debtors. It provides guidance on the drafting of a statutory demand, including the correct what information the statutory demand must contain, and sets out the requirements as to how to serve the statutory demand on the corporate debtor. Finally, it sets out what the consequences are to a corporate debtor if it fails to comply with a statutory demand served on it, principally that it will allow the creditor to present a winding-up petition against the corporate debtor.

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, sets out various circumstances when a company may be wound up by the court (ie compulsory liquidation), including resolution by the company itself, where the company has not commenced trading or suspends its business, on just and equitable grounds, or when a creditor asserts that the company is insolvent, usually because it is unable to pay its debts.

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, provides guidance as to the practice and procedure on the presentation of a winding-up petition by a creditor of a company. It considers the checks to be undertaken and information obtained prior to presenting a winding-up petition, and the steps to be taken by following issue, including the service and advertisement of the winding-up petition. Finally, this Practice Note looks at the steps the debtor company should take if it intends to oppose the winding-up petition, and what the petitioning creditor needs to do if it wishes to withdraw the winding-up petition.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, sets out the circumstances surrounding a creditors’ voluntary liquidation, when an insolvent company may be wound up by its own directors. The company must be insolvent in order for this process to happen, otherwise the company may be wound up by way of a solvent members’ voluntary liquidation (MVL).

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, looks at the effect on court proceedings where the defendant company either has a winding-up order made against it, or where its members pass a resolution for its winding up, or where a winding-up petition is presented against it.

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, sets out the consequences and effect of the making of a winding-up order by the court on a creditor’s winding-up petition, also known as a compulsory liquidation or winding-up, including the steps that the official receiver is required to take, what happens to the directors’ powers, and who the liquidator will be.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, provides detail on the procedure to wind-up (place into voluntary liquidation) a company, both for an MVL and a CVL.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, states what the effects of a CVL (also known as creditors voluntary liquidation or winding-up) are on the company itself, its officers, members, and employees.

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, covers the situation when an application to court is to be made pursuant to section 127 of the Insolvency Act 1986 for a validation order in circumstances where any disposition of the company’s property after presentation against it of a winding-up petition would otherwise be void. It deals with requests to allow payments to be made by the company in the ordinary course of its business, as well as an order permitting the sale of a specific property. This can apply to both prospective—as well as retrospective—dispositions of the company’s property. The validation order is usually for a specific period and is also usually limited to a specific purpose, which will be set out in the validation order granted. This Practice Note details when to make an application, how to make that application, in what circumstances the court will typically make an order and urgent applications.