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Latest Restructuring & Insolvency News

Co-obligor structure deemed ‘good forum shopping’ as court sanctions restructuring plan (Re gategroup Guarantee)

Co-obligor structure deemed ‘good forum shopping’ as court sanctions restructuring plan (Re gategroup Guarantee)

The following Banking & Finance news provides comprehensive and up to date legal information on Co-obligor structure deemed ‘good forum shopping’ as court sanctions restructuring plan (Re gategroup Guarantee)

Trading to the detriment of creditors with no reasonable prospect of the company paying its creditors or avoiding insolvent liquidation (Re Arise Networks Ltd; Official Receiver v Obaigbena)

Trading to the detriment of creditors with no reasonable prospect of the company paying its creditors or avoiding insolvent liquidation (Re Arise Networks Ltd; Official Receiver v Obaigbena)

Trading to the detriment of creditors with no reasonable prospect of the company paying its creditors or avoiding insolvent liquidation (Re Arise Networks Ltd; Official Receiver v Obaigbena)

Latest edition of Corporate Rescue and Insolvency available (April 2021 edition)

Latest edition of Corporate Rescue and Insolvency available (April 2021 edition)

The following Dispute Resolution news provides comprehensive and up to date legal information on Latest edition of Corporate Rescue and Insolvency available (April 2021 edition)

Administrators’ appointments—void or defective? (Re Zoom UK Distribution v Rubra)

Administrators’ appointments—void or defective? (Re Zoom UK Distribution v Rubra)

The following Banking & Finance news provides comprehensive and up to date legal information on Administrators’ appointments—void or defective? (Re Zoom UK Distribution v Rubra)

Featured Restructuring & Insolvency content

Key elements of a standstill agreement

Key elements of a standstill agreement

When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the...

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

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...

Debt for equity swaps

Debt for equity swaps

A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...

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 2016

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...

Practice notes

Winding-up and administration searches for companies at the Central Registry

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

Cashflow and balance sheet tests for insolvency

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

Covenant waivers and resets

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

Role, powers, functions and duties of a liquidator

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

Practice Direction on Insolvency Proceedings

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

Proprietary claims

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

Effect of a moratorium in a company voluntary arrangement (CVA) on creditors and the company [ARCHIVED]

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

Equitable accounting—how it works in practice

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

Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986

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
tag iconIn-house
Practice notes

How to serve a demand for payment

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

Key features of securitisation and asset based lending

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

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

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
tag iconIn-house
Practice notes

Misfeasance claims under section 212 of the Insolvency Act 1986

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
tag iconIn-house
Practice notes

A guide to independent business reviews

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

Avoiding invalid floating charges under section 245 of the Insolvency Act 1986

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

Interim receivers

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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Produced in partnership with South Square and BDO LLP 12th Jan

Most recent Special administration content

Practice notes

Insolvency in the Further and Higher Education Sector

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

Social housing administration

Insolvency of private not-for-profit registered providers of social housingThe social housing sector in England is commonly described as a ‘no...
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Produced in partnership with Eleanor James of Trowers & Hamlins LLP 9th Apr
Precedents

Special administration—witness statement in support of application for special administration

Applicant[NAME OF WITNESS]First Witness StatementDate: []Exhibit [XX1]Court Reference No:[ INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICE...
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8th Apr
Precedents

Special administration—letter to all known creditors: notice of appointment of special administrators

[TO BE TYPED ON THE HEADED NOTEPAPER OF THE SPECIAL ADMINISTRATORS’ FIRM]TO ALL KNOWN CREDITORS[ENTER DATE]Dear Sirs[name of Investment Bank]—in...
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6th Apr
Precedents

Special Administrators’ proposals

[Investment Bank name](in Special Administration)Special Administrators’ Proposals for achieving the purpose of the Special AdministrationNotice:...
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24th Mar
Practice notes

Special Administration for financial institutions

Why these Regulations were introducedThe financial crisis, commencing in 2007 and marked notably by the collapse of Lehman Brothers in September 2008,...
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Produced in partnership with Dominic McCahill of Skadden 23rd Mar
Precedents

Special administration—Creditor’s statement of claim

[company name]Date of special administration [date]Creditor’s name and address [name, address and registered number]Gross amount due to creditor at...
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9th Mar
Precedents

Special administration—distribution order

Court Reference No:[ INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES] [IN [INSERT...
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Produced in partnership with Charlotte Møller of Brown Rudnick LLP 9th Mar
Precedents

Special administration—Client asset statement of claim

------------------------------------------------------------------------------------------------------------------------------------------[company...
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9th Mar
Precedents

Special administration—frequently asked questions (FAQs) for clients or investors and trade creditors

Frequently Asked Questions—clients, investors or trade creditorsThese FAQs are intended as guidance only in relation to the Special Administration of...
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9th Mar
Precedents

Special administration—company board minutes

[INSERT NAME OF INVESTMENT BANK]Minutes of a meeting of the board of directors of [insert name of investment bank] (the ‘Company’) held at [insert...
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9th Mar
Q&As

Does the Third Parties (Rights Against Insurers) Act 1930 apply to special administrations?

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
Precedents

Special administration—letter to all known clients: notice of appointment of special administrators

[TO BE TYPED ON THE HEADED NOTEPAPER OF THE SPECIAL ADMINISTRATORS’ FIRM]TO ALL KNOWN CLIENTS[ENTER DATE]Dear Sirs[name of Investment Bank]—in special...
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21st Jan
Precedents

Special administration—special administrators’ progress report

[investment bank name] (in special administration)[Joint] Special Administrators’ Progress Reportfor the six-month period [date] to [date]Notice:...
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Produced in partnership with Charlotte Møller of Brown Rudnick LLP 8th Jan

Popular documents

LEXISNEXIS

Arbitration agreements—definition, purpose and interpretation

This Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international perspective and includes some comparative examples from other

LEXISNEXIS

Claims for use and occupation, mesne profits, double rent and double value

This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the

LEXISNEXIS

Third party rights—the common law doctrine of privity of contract

This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third

LEXISNEXIS

Breach of statutory duty

This Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care breached?Breach of