Compulsory liquidation

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Latest Restructuring & Insolvency News

Change of position and proving irreversibility (Atkinson & Mummery v Varma)

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Change of position and proving irreversibility (Atkinson & Mummery v Varma)

Reservation of the right to pursue an insolvent company upon settlement with a co-defendant (Re A C Norton Ltd (in liquidation))

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Reservation of the right to pursue an insolvent company upon settlement with a co-defendant (Re A C Norton Ltd (in liquidation))

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Ireland

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Ireland

Wherever I lay my hat is not necessarily my home (for the purposes of bankruptcy) (Lakatamia Shipping Company Ltd v Hsin Chi Su)

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Wherever I lay my hat is not necessarily my home (for the purposes of bankruptcy) (Lakatamia Shipping Company Ltd v Hsin Chi Su)

Featured Restructuring & Insolvency content

What do insolvency searches at The Gazette reveal?

What do insolvency searches at The Gazette reveal?What is The Gazette?The Gazette provides a permanent official public record of important statutory...

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 madeStatutory declaration of solvencyA company...

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...

Recapitalisations

RecapitalisationsThe term 'recapitalisation' refers to a company changing the proportions of its debt and equity, something which can be achieved in a...

Practice notes

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...

19th May

Practice notes

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

US bankruptcy financing—debtor-in-possession (DIP) financingDIP financing generallyDebtor-in-possession financing (DIP financing) is new,...

Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 19th May

In-house

Practice notes

What is a pre-pack administration sale?

What is a pre-pack administration sale?Stop pressOn 8 October 2020, the Insolvency Service published the outcome of its review conducted into the...

19th May

Practice notes

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...

19th May

Practice notes

Marshalling debt

Marshalling debtWhat is marshalling?Marshalling is where two or more creditors are owed money by the same debtor, and one creditor has more than one...

Produced in partnership with Karen Jacobs of Dentons 19th May

Practice notes

Statement of Insolvency Practice 16 (SIP 16)—pre-packaged sales in administration

Statement of Insolvency Practice 16 (SIP 16)—pre-packaged sales in administrationInsolvency practitioners (IPs) are required to comply with both...

19th May

Practice notes

The deemed consent procedure, decision-making procedure, and meetings—the position under the Insolvency (England and Wales) Rules 2016

The deemed consent procedure, decision-making procedure, and meetings—the position under the Insolvency (England and Wales) Rules 2016The Insolvency...

Produced in partnership with Richard Bowles 19th May

Practice notes

Practice Direction on Insolvency Proceedings

Practice Direction on Insolvency ProceedingsCoronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and...

19th May

Practice notes

Annulment of bankruptcy orders

Annulment of bankruptcy ordersThis Practice Note looks at the annulment of bankruptcy orders under section 282 of the Insolvency Act 1986 (IA 1986)...

19th May

Practice notes

Equitable charges v legal charges—impact on saleability

Equitable charges v legal charges—impact on saleabilityThis Practice Note considers the position of a security holder who has an equitable mortgage or...

Produced in partnership with Jonathan Titmuss of Hardwicke 19th May

Practice notes

Wrongful trading claims under sections 214 and 246ZB of the Insolvency Act 1986

Wrongful trading claims under sections 214 and 246ZB of the Insolvency Act 1986What is wrongful trading?Wrongful trading is a claim which arises under...

19th May

In-house

Practice notes

Compulsory winding up of a company—the process and procedure

Compulsory winding up of a company—the process and procedureSTOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on...

Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 19th May

Practice notes

Prohibited names under section 216 of the Insolvency Act 1986

Prohibited names under section 216 of the Insolvency Act 1986The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act...

19th May

Practice notes

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

Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016IntroductionSet-off refers to claims that may be set-off against...

Produced in partnership with South Square Chambers and BDO 19th May

In-house

Practice notes

What is a statutory demand?

What is a statutory demand?This Practice Note looks at what a statutory demand is and what it seeks to achieve in both corporate and personal...

19th May

Practice notes

A guide to independent business reviews

A guide to independent business reviewsThis Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around...

Produced in partnership with Allan Kelly of RSM 19th May

Most recent Compulsory liquidation content

Q&As

If an error is made in a company statutory demand, would this render the demand invalid under the Insolvency (England and Wales) Rules 2016?

If an error is made in a company statutory demand, would this render the demand invalid under the Insolvency (England and Wales) Rules 2016?The...

Produced in partnership with Lana Ashby of Durham University 1st Aug

Q&As

Where an application to set aside a statutory demand is emailed to the court (one day late and without a fee having been paid) and no court file was opened or hearing listed such that the only evidence is an automated response email from the court, could this be an ‘outstanding application’ under section 267(2)(d) of the Insolvency Act 1986?

Where an application to set aside a statutory demand is emailed to the court (one day late and without a fee having been paid) and no court file was...

1st Aug

Q&As

Where a liquidator is appointed in a creditors’ voluntary liquidation (CVL), but a winding-up order is subsequently made on the petition of a creditor who was aware of the CVL, is there anything that can be done to undo the making of the order and, if so, how?

Where a liquidator is appointed in a creditors’ voluntary liquidation (CVL), but a winding-up order is subsequently made on the petition of a creditor...

1st Aug

Q&As

The appointment of administrators by a qualifying floating charge holder (QFCH) suspends a pending winding-up petition. Does this apply if the QFCH is appointed after the hearing is advertised in the Gazette? If the winding-up petition is suspended, does the petitioner ask the court to vacate the hearing or do parties still attend?

The appointment of administrators by a qualifying floating charge holder (QFCH) suspends a pending winding-up petition. Does this apply if the QFCH is...

1st Aug

Q&As

How do you wind up a company limited by guarantee? Does this differ to the options available to a company limited by shares?

How do you wind up a company limited by guarantee? Does this differ to the options available to a company limited by shares?A company limited by...

1st Aug

Q&As

Can a statutory demand be served on a UK corporate person where the debt arises under a contract that has a foreign choice of law and forum clause?

Can a statutory demand be served on a UK corporate person where the debt arises under a contract that has a foreign choice of law and forum...

Produced in partnership with David Sawtell of 39 Essex Chambers 1st Aug

Q&As

A company subject to a winding-up petition settles the petition debt prior to advertisement and agrees with the petitioning creditor that an order will be sought at the hearing dismissing the petition. Notwithstanding non-advertisement of the petition, if a third party creditor indicates its intention to take over the petition at the hearing, what is likely to happen at the hearing?

A company subject to a winding-up petition settles the petition debt prior to advertisement and agrees with the petitioning creditor that an order...

1st Aug

Q&As

Where a company changed its name on the same day a winding-up order was made in the old company name, will the order be valid? If there is no time provided on the winding-up order, what is the standard time of commencement of the winding up?

Where a company changed its name on the same day a winding-up order was made in the old company name, will the order be valid? If there is no time...

1st Aug

Q&As

How can a limited company which is planning on going into liquidation as a result of coronavirus (COVID-19) pursue a civil claim where proceedings have not yet been issued? What implications will liquidation have on pursuing the claim and could the claim be pursued under an individual's name instead?

How can a limited company which is planning on going into liquidation as a result of coronavirus (COVID-19) pursue a civil claim where proceedings...

1st Aug

COVID-19

Q&As

Can a creditor currently present a winding up petition based on an unsatisfied statutory demand in the light of Schedule 10 to the Corporate Insolvency and Governance Act 2020? If a statutory demand can be served, can the alleged debtor seek an injunction?

Can a creditor currently present a winding up petition based on an unsatisfied statutory demand in the light of Schedule 10 to the Corporate...

1st Aug

Q&As

A creditor has issued a winding-up petition. If we notify that creditor of our attention to attend a hearing, can we withdraw the notice or simply not turn up? Are there any specific steps that need to be taken?

A creditor has issued a winding-up petition. If we notify that creditor of our attention to attend a hearing, can we withdraw the notice or simply not...

1st Aug

Q&As

Can a creditor claim from a debtor company the costs of drafting, preparing and serving both a statutory demand and subsequent winding-up petition, and if not, why not?

Can a creditor claim from a debtor company the costs of drafting, preparing and serving both a statutory demand and subsequent winding-up petition,...

Produced in partnership with Caroline Clark 1st Aug

Q&As

Can a statutory demand be served and enforced in the UK upon a limited company incorporated in Malta, where the company operates in the UK but its head office is in Malta?

Can a statutory demand be served and enforced in the UK upon a limited company incorporated in Malta, where the company operates in the UK but its...

1st Aug

Q&As

Are litigation costs (incurred prior to liquidation) claimable against the defendant by a liquidator?

Are litigation costs (incurred prior to liquidation) claimable against the defendant by a liquidator?STOP PRESS: From 6 April 2017, the Insolvency...

1st Aug

Q&As

If there are joint liquidators on behalf of a company, do they both need to sign a stock transfer form or can it be done by one of them?

If there are joint liquidators on behalf of a company, do they both need to sign a stock transfer form or can it be done by one of them? Where an...

1st Aug

Q&As

Does the stay under section 130(2) of the Insolvency Act 1986 apply to arbitration proceedings where a winding-up order is made against the defendant company during the course of the arbitration proceedings?

Does the stay under section 130(2) of the Insolvency Act 1986 apply to arbitration proceedings where a winding-up order is made against the defendant...

1st Aug

Q&As

Can an adjudication award in the construction industry in favour of a company in liquidation be enforced?

Can an adjudication award in the construction industry in favour of a company in liquidation be enforced?STOP PRESS: From 6 April 2017, the Insolvency...

Produced in partnership with Carly Schiff of Boyes Turner 1st Aug

Q&As

For the purpose of benefitting from section 73 of the Solicitors Act 1974—ie that a solicitor can obtain a charging order over an interim costs order which takes priority over the client’s liquidator’s right to such sum—does the solicitor have to obtain the charging order before the client goes into liquidation, or can it be obtained after the commencement of the liquidation?

For the purpose of benefitting from section 73 of the Solicitors Act 1974—ie that a solicitor can obtain a charging order over an interim costs order...

Produced in partnership with Hannah Drozdz of Gately PLC 1st Aug

Q&As

Where a company is wound up in England and Wales in 1984, do the rules regarding the need to seek permission from the court to issue court proceedings against the company where there was a compulsory liquidation still apply?

Where a company is wound up in England and Wales in 1984, do the rules regarding the need to seek permission from the court to issue court proceedings...

1st Aug

Q&As

What is the process for undertaking checks for winding-up petitions in the District Registries and County Court hearing centres in the location where the company has it’s registered office or place of business? Are the District Registries undertaking Chancery work now mostly covered by the CE-File?

What is the process for undertaking checks for winding-up petitions in the District Registries and County Court hearing centres in the location where...

1st Aug

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Compulsory liquidation

View Restructuring & Insolvency by content type:

Latest Restructuring & Insolvency News

Change of position and proving irreversibility (Atkinson & Mummery v Varma)

Reservation of the right to pursue an insolvent company upon settlement with a co-defendant (Re A C Norton Ltd (in liquidation))

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Ireland

Wherever I lay my hat is not necessarily my home (for the purposes of bankruptcy) (Lakatamia Shipping Company Ltd v Hsin Chi Su)

Featured Restructuring & Insolvency content

What do insolvency searches at The Gazette reveal?

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

Insolvency searches for companies at the Central Registry

Recapitalisations

Most recent Compulsory liquidation content

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Qualified one-way costs shifting (QOCS)

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