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Latest Restructuring & Insolvency News

Claims arising from a fraudulent investment scheme resulting in corporate insolvency (Biscoe (as joint liquidators of Equitable Law Capital Ltd) v Milner)

The following Dispute Resolution news provides comprehensive and up to date legal information on Claims arising from a fraudulent investment scheme resulting in corporate insolvency (Biscoe (as joint liquidators of Equitable Law Capital Ltd) v Milner)

Restructuring & Insolvency weekly highlights—15 April 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Restructuring & Insolvency weekly highlights—15 April 2021

Comment—UK lenders square up to tricky task of clawing back Covid-19 loans

The following Banking & Finance news provides comprehensive and up to date legal information on Comment—UK lenders square up to tricky task of clawing back Covid-19 loans

Changes to SIP 13 and SIP 16 and withdrawal of SIP 4

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Changes to SIP 13 and SIP 16 and withdrawal of SIP 4

Featured Restructuring & Insolvency content

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made

Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For...

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to...

Debt for equity swaps

A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...

US ipso facto clauses

Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...

Practice notes

Winding-up and administration searches for companies at the Central Registry

STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...

Produced in partnership with Stephen Allinson 12th Jan

Practice notes

What is considered onerous property or contracts?

DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee in bankruptcy (trustee) has the power to disclaim...

9th Nov

Practice notes

Covenant waivers and resets

One of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver, which cures a temporary...

9th Nov

Practice notes

Loan to value covenants

This Practice Note looks at:•the key features of loan to value (LTV) covenants•possible issues with calling an event of default based on a LTV...

Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan

Practice notes

Proprietary claims

Creditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather than personal...

9th Nov

Practice notes

Effect of a moratorium in a company voluntary arrangement (CVA) on creditors and the company [ARCHIVED]

The Court of Appeal has made it clear in JCAM that a moratorium cannot be obtained through the back door by filing a notice of intention to appoint an...

Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 12th Jan

Practice notes

Equitable accounting—how it works in practice

This Practice Note looks at equitable accounting, what it is, how and when it applies. It does not look at how the trustee in bankruptcy (trustee)...

9th Nov

Practice notes

Court-appointed receivers—when a court will appoint a receiver and who may be appointed

This Practice Note covers receivers who are appointed by the court, including the circumstances in which a court will appoint a receiver and who may...

Produced in partnership with John Hughes of Shakespeare Martineau LLP 12th Jan

Practice notes

How to serve a demand for payment

A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...

Produced in partnership with James Hannant of Guildhall Chambers 12th Jan

Precedents

Certificate of urgency for applications in insolvency proceedings

Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...

9th Nov

Practice notes

Prohibited names under section 216 of the Insolvency Act 1986

The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...

9th Nov

Practice notes

Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016

IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...

Produced in partnership with South Square and BDO LLP 12th Jan

In-house

Practice notes

Key features of securitisation and asset based lending

BrexitBREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note....

9th Nov

Practice notes

US bankruptcy financing—debtor-in-possession (DIP) financing

DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...

Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan

In-house

Practice notes

Interim receivers

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

Produced in partnership with South Square and BDO LLP 12th Jan

Practice notes

Out-of-court administration appointments by a QFCH—the procedure

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

9th Nov

Most recent Clause bank for restructuring and insolvency lawyers content

Practice notes

Governing law, jurisdiction and arbitration clauses in finance documents

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

14th Apr

In-house

Practice notes

MAC clauses for a bilateral facility agreement

Where are MAC clauses used in facility agreements?There are three key places where the concept of material adverse change (MAC) or material adverse...

14th Apr

Practice notes

Executing documents—deeds and simple contracts

This Practice Note summarises the law, guidance and practice relating to the execution of simple contracts and deeds. It considers the key differences...

13th Apr

COVID-19

In-house

Practice notes

Electronic signatures

Coronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by procedural changes in response to the coronavirus...

13th Apr

COVID-19

In-house

Practice notes

Execution formalities—overseas companies

This Practice Note provides practical guidance on the execution of documents by overseas companies, primarily when execution takes place after 1...

13th Apr

Q&As

Can a deed be witnessed electronically using an e-signing platform?

Formalities for a deedThe following are the necessary requirements for a deed:•it must be in writing•it must make it clear that it is intended to be a...

Produced in partnership with Lynne Counsell of 9 Stone Buildings 12th Apr

Precedents

Dispute resolution clause

1Dispute resolution—short form1.1If any dispute arises between the parties out of, or in connection with, this Agreement, the matter shall be referred...

9th Apr

In-house

Practice notes

Execution formalities—companies in insolvency

When considering the methods for signature of a deed or contractual agreement, different execution blocks must be used depending on:•the type of...

9th Apr

Practice notes

Notaries and notarisation

NotariesA notary is a qualified lawyer whose primary concern is the authentication and certification of signatures and documents, either for use...

8th Apr

Practice notes

Execution formalities—partnerships

This Practice Note provides practical guidance on proper execution of simple contracts and deeds for partnerships.AuthorityA partner in a partnership...

8th Apr

Practice notes

Certified copy requirements in commercial transactions

This practice note examines what a certified copy is, when a certified copy is required, who can certify a document and what format the certification...

8th Apr

In-house

Practice notes

Execution formalities—unincorporated associations

This Practice Note provides practical guidance on proper execution of simple contracts and deeds for unincorporated associations.CapacityAn...

8th Apr

Practice notes

Execution formalities—limited partnerships

This Practice Note provides practical guidance on proper execution of simple contracts and deeds for limited partnerships formed under the Limited...

8th Apr

Practice notes

Execution formalities—witnesses

This Practice Note summarises the execution formalities for witnesses, in particular it considers who can act as a witness to the signature of another...

8th Apr

Practice notes

Joint, several, and joint and several liability

ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise...

8th Apr

In-house

Practice notes

Powers of attorney in commercial transactions

Commercial lawyers will regularly come across situations where third parties are executing documents as an attorney on behalf of another person and...

8th Apr

COVID-19

In-house

Practice notes

Execution formalities—limited liability partnerships

This Practice Note provides practical guidance on proper execution of simple contracts and deeds for limited liability partnerships (LLPs).The...

8th Apr

Practice notes

Execution formalities—individuals

This Practice Note provides guidance on the proper execution of simple contracts and deeds for individuals. It covers issues of legal capacity, the...

8th Apr

Practice notes