Compulsory liquidation

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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
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
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 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
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 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
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 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
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
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
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
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
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
Senior creditors will ensure that in addition to having higher security rights over junior creditors, juniors are also subordinated to them.Generally...
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9th Nov
Practice notes
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...
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9th Nov
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 12th Jan

Most recent Compulsory liquidation content

Practice notes
Liquidation—an introductory guideProcess and effect'Liquidation' or 'winding-up' is the process by which the affairs of a company and the company’s...
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15th May
Practice notes
When can you wind-up a company when the debt is disputed?It is a long-established principle that winding-up proceedings should not be commenced where...
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Produced in partnership with Kate Rogers of Radcliffe Chambers 15th May
Practice notes
Following the making of a compulsory winding up order by the courtA company winding-up is deemed to have commenced at the date of the presentation of...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 15th May
Practice notes
The Insolvency (England and Wales) Rules 2016—Part 18: Changes to reporting by and remuneration of office-holders [Archived]ARCHIVED: This Practice...
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Produced in partnership with Peter Shaw, QC of 9 Stone Buildings 15th May
Practice notes
What are provisional liquidators, when are they appointed, and why?Coronavirus (COVID-19)This content contains guidance on subjects impacted by the...
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15th May
Practice notes
Compulsory winding up of a company—the process and procedureSTOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 15th May
Practice notes
Making a receiver appointment when the mortgagor is the subject of an insolvency procedureWhen a company or individual is in financial difficulties, a...
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Produced in partnership with Amanda Eilledge of Hardwicke Chambers 15th May
Practice notes
Key tax consequences of an insolvent liquidationThis Practice Note outlines:•the main corporation tax consequences when a UK incorporated company...
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Produced in partnership with Julia Fox of Deloitte LLP and Anthony Davis 15th May
Practice notes
Taxation in corporate insolvency—the principal issues in outlineTaxation and insolvencyThere are relatively few specific rules governing the UK...
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Produced in partnership with David L. Irvine of Goodwin, Nathan Langford of Kirkland & Ellis International LLP and Philip Ridgway of Temple Tax Chambers 15th May
Practice notes
Overseas companies in the UK—winding up, liquidation, insolvency and closureWhen an overseas company opens an establishment which carries on business...
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15th May
Practice notes
European companies—winding up, liquidation, insolvency and conversion to PLCThe availability of the Societas Europaea (SE) in the UK has been...
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15th May
Precedents
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules...
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Produced in partnership with Christopher Brockman of Enterprise Chambers 8th Apr
Precedents
Petitioning Creditor1st: [NAME]Exhibit: [INSERT]Dated: [INSERT]CASE NO: [ ] OF [YEAR]IN THE HIGH COURT OF JUSTICECHANCERY DIVISION[COURT]IN THE MATTER...
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8th Apr
Q&As
Where a company disposes of any of its property at the time between the presentation of a winding-up petition against it and a winding-up order being...
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7th Apr
Q&As
Where an appointment or nomination of any person to the office of liquidator relates to more than one person or has the effect that the office is to...
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15th Feb
Q&As
As it stands, permission is needed from the court in order to issue proceedings against a company in compulsory liquidation. Under section 130(2) of...
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15th Feb
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
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15th Feb

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