The following Property practice note provides comprehensive and up to date legal information covering:
Coronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent nature. For news and guidance as to the implications from a property perspective see: Coronavirus (COVID-19)—implications for property — Property Insolvency.
A partnership cannot create a floating charge. Any partnership which can be wound up by the court in England and Wales can also be the subject of administration. The regime is very similar to that applicable to companies under Part 2 of the Insolvency Act 1986 (IA 1986), but with minor amendments reflecting the differences in internal structure between a company and a partnership. The exception to the general nature of the amendments is the provision that a reference to 'administrative receiver' or 'floating charge' is to be read as 'agricultural receiver' and 'agricultural floating charge' respectively, since a partnership cannot create a floating charge (see Re West Park Golf & Country Club  1 BCLC 20).
Articles 6(4)–6(5) of the Insolvent Partnerships Order 1994, SI 1994/2421 (IPO 1994) list various other provisions of the IA 1986 which also apply to partnership administration orders.
An administrator may be appointed in relationship to a partnership by:
the holder of a qualifying agricultural floating charge (as defined in IA 1986, Sch 1, para 14), or
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