This Practice Note will give a basic overview of what amounts to an administration expense and some of the case law on this topic. Expenses of an administration are...
Sale by a mortgagee destroys the equity of redemption in the mortgaged property. The sale defeats the rights of all subsequent incumbrancers, whose remedy then is only...
STOP PRESS: Since 25 April 2017, it has been mandatory to use electronic filing (e-filing) in all jurisdictions of the Rolls Building, which includes the Insolvency and...
When a bankruptcy order is made, a bankrupt’s property normally automatically vests in the Official Receiver/trustee in bankruptcy. However, property owned by the...
Bankruptcy searches at the Land Charges Department When a bankruptcy petition is presented by a creditor, the court shall as soon as reasonably practicable send to the...
When an individual is adjudicated bankrupt, his property (with the exception of an interest in various short-term residential tenancies in certain circumstances) vests in...
Dissolution A company is dissolved (or deemed dissolved) following: • liquidation • administration • striking off its name off the register by the Registrar of Companies...
Joint and several liability Where a covenant is given by two or more persons, they may be liable: • jointly • severally, or • jointly and severally The applicable...
Repayment covenant A claim under the repayment covenant in the principal mortgage can be made against any covenantor, whether principal or surety. Whether or not a...
This Practice Note details the deadlines for carrying out some of the more common tasks for property disputes lawyers, together with links to further information. It is...
Background Certain transactions entered into by a company within a specified period before insolvency may be set aside, or otherwise adjusted, by the court on the...
This Practice Note sets out the position from 6 April 2017. It does not necessarily reflect the position pre–6 April 2017. Drafting and serving a statutory demand This...
This Practice Note gives guidance as to the practice and procedure which applies on the winding up of a company (the debtor) pursuant to a creditors’ winding-up petition....
Bankruptcy in England and Wales is a process by which the court or the bankruptcy adjudicator adjudicates an individual bankrupt by making a bankruptcy order. While a...
What is a CVA? A company voluntary arrangement (CVA) is an arrangement between a company and its creditors, supervised by an IP (who is known as the supervisor once the...
What is a DRO? DROs are 'a new and simplified way of wiping the slate clean for debtors who are too poor to go bankrupt.' A DRO is made in respect of qualifying debts. A...
