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Latest Restructuring & Insolvency News

Cross-Border Insolvency Regulations 2006—recognition of Ukrainian bank liquidation (Re PJSC Bank Finance and Credit (in liquidation))

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Cross-Border Insolvency Regulations 2006—recognition of Ukrainian bank liquidation (Re PJSC Bank Finance and Credit (in liquidation))

Restructuring & Insolvency weekly highlights—6 May 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Restructuring & Insolvency weekly highlights—6 May 2021

Application of modified universalism where Article 4 of Brussels I (recast) is engaged (WWRT v Tyshchenko)

The following Dispute Resolution news provides comprehensive and up to date legal information on Application of modified universalism where Article 4 of Brussels I (recast) is engaged (WWRT v Tyshchenko)

Recognition of EEA credit institution insolvency proceedings post-Brexit (Re Greensill Bank AG)

The following Banking & Finance news provides comprehensive and up to date legal information on Recognition of EEA credit institution insolvency proceedings post-Brexit (Re Greensill Bank AG)

Featured Restructuring & Insolvency content

Out-of-court administration appointments by a QFCH—the procedure

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

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...

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...

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

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...

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...

Produced in partnership with James Hannant of Guildhall Chambers 12th Jan

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...

9th Nov

In-house

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)...

9th Nov

Practice notes

Loan to value covenants

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...

Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan

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...

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)...

9th Nov

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...

9th Nov

Practice notes

What is considered onerous property or contracts?

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...

9th Nov

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...

Produced in partnership with South Square 12th Jan

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...

Produced in partnership with Stephen Allinson 12th Jan

Practice notes

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...

Produced in partnership with Richard Bowles 12th Jan

Practice notes

US ipso facto clauses

Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...

Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan

Practice notes

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...

9th Nov

Practice notes

Effect of equitable, contractual and structural subordination

Senior creditors will ensure that in addition to having higher security rights over junior creditors, juniors are also subordinated to them.Generally...

9th Nov

Practice notes

Compulsory winding up of a company—the process and procedure

STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose...

Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 12th Jan

Practice notes

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...

9th Nov

Most recent Lehmans [Archived] content

Practice notes

Lehman RASCALS litigation [Archived]

BackgroundOne of the many issues adding to the complexity of the Lehman Brothers failure was the dispute over the beneficial ownership of certain...

23rd Mar

Practice notes

Lehmans waterfall I case [Archived]

How did the problem arise?Lehman Brothers International Europe (in administration) (LBIE) was (rather unusually) a private unlimited company and was...

23rd Mar

Practice notes

Lehmans—timeline of events and key dates [Archived]

IntroductionThe collapse of Lehmans on 15 September 2008 was marked by the following key events:DateEvent5 to 12 September 2008The share price of the...

23rd Mar

Practice notes

Lehmans—client money issues [Archived]

Trust propertyOne of the many issues adding to the complexity of the Lehmans failure was the fact that various clients of the Lehman Group deposited...

23rd Mar

Practice notes

Lehmans—background and key issues [Archived]

The collapse of LehmansThe Lehman group had over 650 legal entities located in over 40 different countries. It was the fourth largest investment bank...

23rd Mar

Practice notes