Special administration—frequently asked questions (FAQs) for clients or investors and trade creditors

The following Restructuring & Insolvency precedent provides comprehensive and up to date legal information covering:

  • Special administration—frequently asked questions (FAQs) for clients or investors and trade creditors

Special administration—frequently asked questions (FAQs) for clients or investors and trade creditors

Frequently Asked Questions—clients, investors or trade creditors

These FAQs are intended as guidance only in relation to the Special Administration of [insert company] and the Investment Bank Special Administration (England and Wales) Rules 2011, SI 2011/1301. You should consult your own legal and other professional advisors for advice in relation to your claim.

General FAQs

    1. 1

      What is a special administration?

      The Investment Bank Special Administration Regulations 2011, SI 2011/245 were introduced in an attempt to improve the process where an investment bank fails. [Detail the differences to ordinary administration, the objectives of a special administration, the option to establish a creditors' committee and how costs will be paid eg the costs and expenses returning client assets are to be paid out of relevant client assets. Other costs and expenses are paid out of the Company’s own/firm assets.]

    1. 2

      Who are Special Administrators?

      The Special Administrators are individuals who are suitably qualified to manage this organisation. In this case, the Investment Bank has reached a point where it was [cashflow OR balance sheet insolvent]. [Enter names of special administrators] are Insolvency Practitioners who have been appointed with the ratification of the [Financial Conduct Authority (FCA) OR Prudential Regulation Authority (PRA) and the] court. The Special Administrators will report to relevant parties in due course on their findings and the

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