Members' voluntary liquidation

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Precedents
Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...
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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 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
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
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
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
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
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
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
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 12th Jan

Most recent Members' voluntary liquidation content

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
Disclaimer is a statutory procedure which is governed by the Insolvency Act 1986 (IA 1986) and by the Insolvency (England and Wales) Rules 2016, SI...
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15th Feb
Q&As
Under the Insolvency Rules 2016 (IR 2016), SI 2016/1024, IR 2016, SI 2016/1024, Pt 14, which determines the treatment of creditors’ claims, is applied...
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Produced in partnership with Alison Curry of Insolvency Support Services 15th Feb
Q&As
A party who has the intention to attend the hearing, must give written notice to the petitioning creditor or their solicitors, in accordance with Rule...
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15th Feb
Q&As
In answering this Q&A, we have considered the power of a liquidator to deal with the company’s assets after the commencement of liquidation.Section...
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Produced in partnership with Simon Passfield of Guildhall Chambers 15th Feb
Q&As
Company granting power of attorneyWhether a company (or any other body corporate) can grant a power of attorney will depend on its constitution....
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15th Feb
Q&As
Section 201 of the Insolvency Act 1986 (IA 1986) applies to a company wound up voluntarily, where the liquidator has sent to the registrar of...
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Produced in partnership with Lesley Anderson QC of Hardwicke Chambers 15th Feb
Q&As
It is assumed for the purposes of this Q&A that the company in question is a pre-22 December 1980 company, as since that date it has not been possible...
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Produced in partnership with Steven Papadopoulos 15th Feb
Q&As
When a company enters into member voluntary liquidation (MVL), a liquidator is typically appointed by the company in a general meeting (section 91(1)...
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Produced in partnership with Phillip Patterson of Hardwicke Chambers 8th Jan
Q&As
The directors, or in the case of a company with more than two directors, the majority of the directors, must swear a statutory declaration at a...
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Produced in partnership with Caroline Clark 8th Jan
Q&As
Creditors now have virtually the same rights in both members' and creditors' voluntary liquidations as regards to the agreement of their claims as...
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Produced in partnership with Caroline Clark 8th Jan
Q&As
Company’s assets upon winding upThe company's assets on a winding up are to be applied in meeting first the expenses of the voluntary winding up, then...
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29th Nov

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