The following Restructuring & Insolvency guidance note Produced in partnership with Kirsten Fleming of Addleshaw Goddard LLP provides comprehensive and up to date legal information covering:
STOP PRESS: The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018, SI 2018/1082 and Insolvency (Scotland) (Receivership and Winding up) Rules 2018, SSI 2018/347 come into force on 6 April 2019. The content of this Practice Note is under review and will be updated as appropriate shortly. In the meantime, for further information on the changes, see:
Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018, LNB News 15/10/2018 111
Insolvency (Scotland) (Receivership and Winding up) Rules 2018, LNB News 15/11/2018 7
New insolvency rules for Scotland—what the changes will mean
New changes under the Insolvency (Scotland) (Receivership and Winding up) Rules 2018
This Practice Note looks at compulsory liquidation in Scotland and sets out: (i) the entities that may apply for the winding-up of a company; (ii) the circumstances in which such an application may be made; and (iii) the process to be undertaken in seeking to obtain a winding-up order from the court. For a glossary of commonly used Scottish insolvency terms, see Practice Note: Glossary of Scottish insolvency words and expressions.
This Practice Note does not cover questions of jurisdiction under the Recast Regulation on Insolvency, Regulation (EU) 848/2015 (Recast Regulation on Insolvency)(see: Recast Regulation on Insolvency—overview), and assumes that the company is registered in Scotland, and has its centre of main interests (COMI) for those purposes in
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