Accepting a surrender can be the quickest way for a landlord to regain possession of the premises from an insolvent tenant. It circumvents the extra requirements before...
Real estate often forms part of the assets of an insolvent company to be sold by an administrator and can frequently be key to a potential buyer so it can continue the...
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...
Equity of exoneration Where the property of a spouse is charged in order to raise money for the payment of the first spouse’s debts or otherwise for his or her benefit,...
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...
The receiver’s duty The duty owed by a receiver to a mortgagor when selling a property is the same as that owed by the mortgagee to a mortgagor: • in exercising his power...
Dissolution A company is dissolved (or deemed dissolved) following: • liquidation • administration • striking off its name off the register by the Registrar of Companies...
In this Practice Note, receivers, administrators and liquidators will, for convenience, be referred to collectively as Insolvency Practitioners (IPs), although it is not...
Land Charges searches are not required for dealings with registered land, but if you are acting for a lender in connection with a charge over an interest in property,...
Right to recover rent The commercial rent arrears recovery (CRAR) regime allows landlords to seize a tenant’s goods from the demised premises in order to...
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...
Eligibility Part VI of the County Courts Act 1984 (CCA 1984) introduces a new form of administration procedure for debtors who do not have any business debts and whose...
Prudential Assurance v PRG Powerhouse first highlighted the potential use of a company voluntary arrangement (CVA) for 'guarantee stripping', where the beneficiary of 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...