The following Restructuring & Insolvency practice note Produced in partnership with Rebecca Walker of Irwin Mitchell LLP provides comprehensive and up to date legal information covering:
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for R&I?
The purpose of this note is to set out the insolvency procedures available to the most common types of unregistered company, namely:
unincorporated associations; and
overseas companies not covered by the Recast Regulation on Insolvency, Regulation (EU) (848/2015) (Recast Regulation on Insolvency)
Excluded from the scope of this note are:
companies incorporated under the Companies Act 2006 (CA 2006) or the Companies Act 1985. For further detail on insolvency procedures available to registered companies, see Practice Note: Restructuring & Insolvency—new starter guide
partnerships; for further detail on insolvency procedures available to partnerships, see: Partnership insolvency—overview. In particular, note that general partnerships can be wound up as unregistered companies—Winding up a general partnership as an unregistered company
charities; for further detail on insolvency procedures available to charities, see Practice Note: Charity insolvency—a guide to available insolvency procedures
An unincorporated association was defined by
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