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...
Date[insert date of appointment] Parties 1 [insert name of Lender] of [insert address][incorporated in England and Wales with company registration number [insert company...
Bankruptcy is an insolvency process for individuals, which commences on the day the bankruptcy order is made. Until 6 April 2016, unlike its corporate equivalent...
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...
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...
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...
Impact of appointment The effect of the appointment of an LPA/fixed charge receiver is very different from that of an appointment of an administrator, liquidator or...
This Practice Note provides a brief summary of the retail landscape and highlights some of the key legal and practical issues facing office-holders appointed over a...
Transactions at an undervalue A transaction at an undervalue is a transaction which is made by a debtor: • by way of gift or otherwise for no consideration • in...
This Practice Note gives an introduction to the main issues for property disputes lawyers in each of the most common forms of insolvency process, including the...
Rent payment Depending on the procedure being followed, rent will be payable to the: • liquidator • administrator • company voluntary arrangement (CVA) supervisor...
Rent payment The Commercial Rent Arrears Recovery (CRAR) procedure enables a superior landlord to serve notice requiring an undertenant to pay rent directly to the...
Administration was introduced by the Insolvency Act 1986 (IA 1986) and the procedure was heavily revised by the Enterprise Act 2002. Appointment Administrators may be...
Forms of liquidation 'Liquidation' or 'winding up' is the process by which a company is brought to an end. When a company is liquidated its business is terminated,...
This Practice Note considers the interaction between the statutory moratorium under Schedule B1 to the Insolvency Act 1986 (IA 1986), which prevents most creditor or...
This Practice Note considers the interaction between the statutory moratorium under Schedule B1 to the Insolvency Act 1986 (IA 1986), which prevents most creditor or...
When a company or an individual enters into a formal insolvency or enforcement process, the goal posts shift considerably for creditors wishing to bring, or continue...
This Practice Note contains a summary of individual voluntary arrangements (IVAs) and their impact on legal proceedings from a dispute resolution perspective. Coronavirus...
A pre-pack is an arrangement under which the sale of all or part of a company’s business and assets is negotiated with a purchaser prior to the appointment of an...
The Law of Property Act 1925 (LPA 1925) enables a mortgagee of a legal mortgage to appoint an LPA receiver. This right may alternatively (and more usually will) arise...
What is a CVA? A company voluntary arrangement (CVA) is an insolvency process that allows a company to enter into a contractual agreement with creditors to settle its...
Receivers—background Receivers have been a recognised in English law as a remedy available to creditors and others wishing to protect their interest in assets since the...
General It is a common feature of commercial leases that a rent deposit is paid to be held either by the landlord or by a third party as stakeholder to provide a fund to...
Introduction to company voluntary arrangements (CVAs) A CVA is a tool available to a company in financial difficulty to restructure its debts. In contrast to other...
Powers—general The statutory powers conferred on an LPA/fixed charge receiver are very limited and so for a receiver to exercise the duties which his appointing mortgagee...
Powers—general The statutory powers conferred on an LPA/fixed charge receiver are very limited and so for a receiver to exercise the duties which his appointing mortgagee...
Insolvency of private not-for-profit registered providers of social housing The social housing sector in England is commonly described as a ‘no default’ sector. This...
