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Brexit
Brexit is a significant subject for R&I lawyers due to the reciprocal nature of our relationship with Europe. Our Brexit content offers key information and updates for all practitioners, as well as legislation trackers.
Corporate Insolvency and Governance Act 2020
Includes new legislation due to coronavirus. Temporary provisions centre around winding-up petitions, wrongful trading and ipso facto clauses. Permanent changes include the creation of two corporate insolvency processes.
International content
Get country guides for 45 jurisdictions – the majority are from our Getting the Deal Through series. Where there are jurisdictional gaps, we have commissioned content, and have created several comparison tables.
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Helping restructuring and insolvency professionals stay up-to-date with legal and market developments, and work faster and smarter.
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Our Restructuring & Insolvency Experts
Marcia Shekerdemian
David Kerr
Lesley Anderson
Peter Declercq
Joseph Curl
Latest Restructuring & Insolvency News
The Insolvency Service has published guidance outlining the Official Receiver's interim position on motor finance mis-selling claims in bankruptcy...
This week's edition of Restructuring & Insolvency weekly highlights includes: coverage on the Insolvency Service’s expanding role as a result of the...
Law360, Expert Analysis: On 1 July 2025, the UK Court of Appeal overturned the High Court's sanction of Petrofac Ltd's restructuring plans....
HMRC has published two new insolvency practitioner bulletins. Bulletin 7 offers guidance on pre-pack sales in insolvency, detailing the...
The Insolvency Service has published its monthly insolvency statistics for July 2025 on company and individual insolvencies in England and Wales. The...
Latest Restructuring & Insolvency Practice Notes
Execution of documents under Scots lawThe rules regarding execution of documents governed by the laws of Scotland are contained in:•the Requirements...
Electronic working and CE-File—when and where is CE-File applicable?NOTE: the CE-File pilot is due to expire on 1 November 2025. With effect from 1...
Electronic working and CE-File—how to use CE-FileNOTE: the CE-File pilot is due to expire on 1 November 2025. With effect from 1 October 2025 CPR PD...
Acquisition finance—second lien financingWhat is second lien financing?Second lien financing is a form of financing that is principally secured by the...
The UK General Data Protection Regulation (UK GDPR)FORTHCOMING CHANGE: On 19 June 2025, the Data (Use and Access) Bill received Royal Assent, becoming...
Latest Restructuring & Insolvency Precedents
Gazette notice for the presentation of a winding-up petition under rule 7.10 of the Insolvency (England and Wales) Rules 2016Court Reference No:[...
Application notice Insolvency Act 1986 s 216APPLICATION NOTICEForm IAARule 1.35 of the Insolvency (England and Wales) Rules 2016Court Reference No....
Application notice for permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the Insolvency Act 1986Note: This...
Draft order granting permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the Insolvency Act 1986CASE NO: [insert...
Witness statement in support of an application for permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the...
Latest Restructuring & Insolvency Q&As
Featured Restructuring & Insolvency content
Role, powers, functions and duties of a liquidator
Role, powers, functions and duties of a liquidatorThe role and function of a liquidatorA liquidator is the officer appointed when a company goes into...
Bonds and notes
Bonds and notesThe terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be...
Bankruptcy searches
Bankruptcy searchesBankruptcy searches at the Land Charges DepartmentWhen a bankruptcy petition is presented by a creditor, the court shall as soon as...
Basic introduction to super senior, senior, mezzanine and junior debt
Basic introduction to super senior, senior, mezzanine and junior debtThe range of funding options open to companies has exploded, resulting in a vast...
Key elements of a standstill agreement
Key elements of a standstill agreementWhen restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of...
How to serve a demand for payment
How to serve a demand for paymentA demand for payment is a formal demand made in accordance with the contractual requirements underpinning the...
Receivership—an introductory guide
Receivership—an introductory guideThe appointment of a receiver is a remedy for creditors and certain third parties to protect their interest in...
Debt for equity swaps
Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in...
Challenging an individual voluntary arrangement (IVA)
Challenging an individual voluntary arrangement (IVA)Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act...
Cashflow and balance sheet tests for insolvency
Cashflow and balance sheet tests for insolvencyIntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and...
What is a statutory declaration of solvency and what happens if a false declaration of solvency is made?
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeCoronavirus (COVID-19)This content is affected...
Bankruptcy petitions—process and procedure post-presentation of the petition
Bankruptcy petitions—process and procedureBefore the hearing of the creditors’ bankruptcy petition takes place, there are a number of steps that must...
Role, powers, functions and duties of an administrator
Role, powers, functions and duties of an administratorThe role, powers and duties of an appointed administrator are set out in the Insolvency Act 1986...
Effect on proceedings against a company being wound up and after a winding-up order is made
Effect on proceedings against a company being wound up and after a winding-up order is madeThis Practice Note sets out guidance as to what happens...
Insolvency searches for companies at the Central Registry
Insolvency searches for companies at the Central RegistryWhat is the Central Registry of Winding-up Petitions?The Central Registry of Winding-up...
Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986
Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986It is possible for a claim to be brought under section 423 of the...
Role, powers, functions and duties of a trustee in bankruptcy
Role, powers, functions and duties of a trustee in bankruptcyThis Practice Note looks at the roles, powers, functions and duties of the trustee in...
Administration expenses
Administration expensesThis Practice Note provides an overview of what amounts to an administration expense and discusses key case law.Expenses of an...
Associated legal terms
Practical insolvency
An inability to pay debts or instalments on debts as they become due is called simple or practical insolvency. A debtor can be practically insolvent without any formal legal steps being taken, and even though they could, given time, realise sufficient assets to pay all the debts
Use
means distribute, disclose, store, use, analyse, copy, reproduce, extract, modify, or adapt in whole or in part.
Waterfall (of payments/recoveries)
This is the order in which liabilities of the debtor are paid out in insolvency or following an Event of default.
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