Compulsory liquidation

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Practice notes
The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) provide for a revised scheme for decision making in insolvency from 6 April...
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Produced in partnership with Richard Bowles 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
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...
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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
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
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 looks at equitable accounting, what it is, how and when it applies. It does not look at how the trustee in bankruptcy (trustee)...
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9th Nov
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
It is possible for a claim to be brought under section 423 of the Insolvency Act 1986 (IA 1986) against a company or individual following a...
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9th Nov
Practice notes
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...
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Produced in partnership with South Square and BDO LLP 12th Jan
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
What is a misfeasance claim under section 212 of the Insolvency Act 1986?Claims commenced under section 212 of the Insolvency Act 1986 (IA 1986) are...
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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 Compulsory liquidation content

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
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
ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 were laid...
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Produced in partnership with Peter Shaw, QC of 9 Stone Buildings 9th Apr
Practice notes
Process and effect'Liquidation' or 'winding-up' is the process by which the affairs of a company and the company’s existence are brought to an end....
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9th Apr
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, see our Coronavirus (COVID-19) toolkit....
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9th Apr
Practice notes
A receiver generally acts as agent of the mortgagor in collecting income from and disposing of the assets in respect of which the receiver has been...
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Produced in partnership with Amanda Eilledge of Hardwicke Chambers 9th Apr
Practice notes
Dissolution marks the end of a company’s life. It constitutes the formal termination of a company as a legal entity and for insolvency purposes ends...
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Produced in partnership with Ian Defty of CVR Global LLP 9th Apr
Practice notes
This Practice Note has been archived and is not maintained.The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 were laid before...
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Produced in partnership with Emma Knight of Three Stone 9th Apr
Practice notes
When a company or individual is in financial difficulties, a mortgagee will commonly seek to enforce their security by appointing a receiver where...
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Produced in partnership with Amanda Eilledge of Hardwicke Chambers 9th Apr
Practice notes
Taxation and insolvencyThere are relatively few specific rules governing the UK taxation of companies that are subject to insolvency procedures. The...
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Produced in partnership with David L. Irvine, Nathan Langford of Kirkland & Ellis International LLP and Philip Ridgway of Temple Tax Chambers 9th Apr
Practice notes
This Practice Note outlines:•the main corporation tax consequences when a UK incorporated company enters into an insolvent liquidation process,...
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Produced in partnership with Julia Fox of Deloitte LLP and Anthony Davis 9th Apr
Practice notes
A guide to specific terminology used in this Practice Note is provided—see below section titled ‘Key terms encountered when applying for a winding-up...
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Produced in partnership with Mark Hubbard of New Square Chambers 8th Apr
Practice notes
When an overseas company opens an establishment which carries on business in the United Kingdom, it may have to register its particulars with...
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8th Apr
Practice notes
This Practice Note is currently archived and is no longer maintained or updated.The availability of the Societas Europaea (SE) in the UK has been...
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8th Apr
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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8th Apr
Practice notes
This Practice Note gives guidance as to when it is necessary to apply for a validation order and the procedures to be followed.Coronavirus...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 8th Apr
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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8th Apr
Practice notes
This Practice Note gives guidance as to when and how to apply for the appointment of a provisional liquidator after the presentation of a petition but...
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Produced in partnership with Christopher Brockman of Enterprise Chambers 8th Apr
Practice notes
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 30 June 2021) impose...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 8th Apr

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