Corporate insolvency processes

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Practice notes
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
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
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
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
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:•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 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
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
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
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
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 Corporate insolvency processes content

Practice notes
There is very little statutory guidance on modifications to company voluntary arrangements (CVAs) and how to deal with them. Some guidance is given by...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
This Practice Note covers the procedural aspects following the appointment of a receiver in respect of an Isle of Man company or other corporate...
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Produced in partnership with Dougherty Quinn of Isle of Man Law Firm 9th Apr
Practice notes
Neither the company nor its creditors may approve a company voluntary arrangement (CVA) proposal or modification which affects the right of a secured...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 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
The appointment of an administrative receiver does not create an automatic statutory moratorium. As such, creditors are not precluded from commencing...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
What is a CVA?A company voluntary arrangement (CVA) is a binding arrangement made between a company and its creditors (IA 1986, Pt I). It is the...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
GeneralThe Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, provide a scheme for decision-making in all insolvency procedures. The...
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Produced in partnership with William Willson of South Square Chambers 9th Apr
Practice notes
Receivers—backgroundReceivers have been a recognised in English law as a remedy available to creditors and others wishing to protect their interest in...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
The process by which a company may be voluntarily wound up when insolvent is referred to as a creditors’ voluntary liquidation (CVL).A CVL is a...
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Produced in partnership with Karl Anderson of 4 Stone Buildings 9th Apr
Practice notes
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
Practice notes
This Practice Note sets out the position from 6 April 2017.The effect of CVL on the companyThe process of liquidation will lead to the dissolution of...
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Produced in partnership with Karl Anderson of 4 Stone Buildings 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
This Practice Note has been archived and is not maintained.The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid before...
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Produced in partnership with James Davies of New Square Chambers 9th Apr
Practice notes
A company voluntary arrangement (CVA) is a binding contractual agreement between a company and its creditors. A CVA proposal must involve one or both...
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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
Consideration of the proposalWhat is the process of considering of the proposal?The nominee must summon a meeting of the company in order to consider...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
The receiver’s dutyThe duty owed by a receiver to a mortgagor when selling a property is the same as that owed by the mortgagee to a mortgagor:•in...
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Produced in partnership with Steve Innes of 4 New Square 9th Apr
Practice notes
Members’ voluntary liquidationsVoluntary liquidation or winding-up is a process in which the company, through the resolution of its members, decides...
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Produced in partnership with Robert Smailes of Leonard Curtis Business Solutions Group & Simon Hunter of Three Stone 9th Apr
Practice notes
Steps prior to appointmentThe power to appoint an administrative receiver lies with the holder of a floating charge subject to the following:•the...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Powers—generalThe statutory powers conferred on an LPA/fixed charge receiver are very limited and so for a receiver to exercise the duties which his...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr

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