Corporate insolvency processes

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Practice notes
A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...
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9th Nov
Practice notes
Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
Practice notes
STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...
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Produced in partnership with Stephen Allinson 12th Jan
Practice notes
IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...
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Produced in partnership with South Square 12th Jan
Practice notes
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...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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9th Nov
Practice notes
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...
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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan
Practice notes
Creditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather than personal...
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9th Nov
Practice notes
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...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 12th Jan
Practice notes
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...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 12th Jan
Practice notes
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...
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9th Nov
Practice notes
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....
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9th Nov
Practice notes
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
Practice notes
This Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around an IBR•identify when an IBR may be...
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Produced in partnership with Allan Kelly of RSM 12th Jan
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov

Most recent Corporate insolvency processes content

Practice notes
The role, powers and duties of an appointed administrator are set out in the Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules...
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12th Apr
Practice notes
Advantages of MVLA members’ voluntary liquidation (MVL) is a much-used, versatile process as the timing and strategy of the liquidation is initially...
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Produced in partnership with Robert Smailes of Leonard Curtis Business Solutions Group & Simon Hunter of ThreeStone 9th Apr
Practice notes
This Practice Note summarises the insolvency regime introduced by the Technical and Further Education Act 2017 (TAFEA 2017), the Further Education...
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Produced in partnership with Neil Smyth of Mills & Reeve LLP 9th Apr
Practice notes
EmployeesThe appointment by the court of a receiver of the company will have the effect of automatically terminating all employee contracts. The...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
WARNING:This Practice Note reflects the position maintained up to 25 June 2020 before the coming into force of the Corporate Insolvency and Governance...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
This Practice Note considers the striking off of a company from the register of companies and how to deal with this in the context of a receivership...
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Produced in partnership with Katrina Mather of Hardwicke Chambers 9th Apr
Practice notes
There is no definition of ‘failure’ of a company voluntary arrangement (CVA) in the Insolvency Act 1986 (IA 1986). It does not explain when failure...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
The power to seek directions from the courtOffice-holders in insolvency proceedings have statutory powers to seek directions from the court in...
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9th Apr
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency Rules 2016—coming into force and changesThe Insolvency (England...
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Produced in partnership with Madeleine Jones of South Square 9th Apr
Practice notes
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For...
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Produced in partnership with Robert Smailes of Leonard Curtis Business Solutions Group & Simon Hunter of Three Stone 9th Apr
Practice notes
This Practice Note has been archived and is not maintained.The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid before...
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Produced in partnership with Emma Knight of Three Stone 9th Apr
Practice notes
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...
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9th Apr
Practice notes
There is very little statutory guidance on modifications to company voluntary arrangements (CVAs) and how to deal with them. Some guidance is given by...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
This Practice Note covers the procedural aspects following the appointment of a receiver in respect of an Isle of Man company or other corporate...
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Produced in partnership with Dougherty Quinn of Isle of Man Law Firm 9th Apr
Practice notes
Neither the company nor its creditors may approve a company voluntary arrangement (CVA) proposal or modification which affects the right of a secured...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
It is a long-established principle that winding-up proceedings should not be commenced where the petition debt is genuinely disputed on substantial...
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Produced in partnership with Kate Rogers of St Philips Chambers 9th Apr
Practice notes
The appointment of an administrative receiver does not create an automatic statutory moratorium. As such, creditors are not precluded from commencing...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
What is a CVA?A company voluntary arrangement (CVA) is a binding arrangement made between a company and its creditors (IA 1986, Pt I). It is the...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
GeneralThe Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, provide a scheme for decision-making in all insolvency procedures. The...
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Produced in partnership with William Willson of South Square Chambers 9th Apr
Practice notes
Receivers—backgroundReceivers have been a recognised in English law as a remedy available to creditors and others wishing to protect their interest in...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr

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