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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
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
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
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
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
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
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 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
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
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
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
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
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
Practice notes
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
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 contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
Read More >
9th Nov

Most recent Creditors' participation content

Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency Rules 2016—coming into force and changesThe Insolvency (England...
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Produced in partnership with Madeleine Jones of South Square 9th Apr
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid...
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Produced in partnership with Eleanor Temple of Kings Chambers 9th Apr
Practice notes
In many restructurings, the early creation of a creditors' committee (or steering committee) will greatly assist negotiations between the debtor...
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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
This Practice Note has been archived and is not maintained.Summary points•Electronic communication provisions extended through deemed consent where...
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Produced in partnership with David Menzies of ICAS 9th Apr
Practice notes
What is the prescribed part?Background to the prescribed partWhen an insolvency office-holder is appointed, their primary role is to collect in and...
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9th Apr
Practice notes
This Practice Note will give a basic overview of what amounts to an administration expense and some of the case law on this topic.Expenses of an...
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Produced in partnership with Jamil Mustafa of South Square Chambers 9th Apr
Practice notes
What is marshalling?Marshalling is where two or more creditors are owed money by the same debtor, and one creditor has more than one security whereas...
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Produced in partnership with Karen Jacobs of Dentons 9th Apr
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 9th Apr
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 Apr
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, see our Coronavirus (COVID-19) toolkit....
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9th Apr
Practice notes
In many restructurings, informal (ad hoc or unofficial) creditors' committees are formed as opposed to formal creditors' committees (see Practice...
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9th Apr
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid...
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Produced in partnership with Faith Julian of 9 Stone Buildings 9th Apr
Practice notes
This Practice Note sets out certain key cases and associated relevant content in relation to set-off. The cases are divided by topic area and...
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8th Apr
Q&As
A guarantee is an agreement between one person/entity (the guarantor) and another person/entity (the creditor), whereby the guarantor will meet the...
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8th Apr
Q&As
Set off and the requirement for mutuality of debtsFor information on set off, see Practice Notes:•What is set-off and when is it available?•Insolvency...
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7th Apr
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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7th Apr
Practice notes
This Practice Note considers the scope of the reflective loss rule. It addresses the background to and implications of the rule against reflective...
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6th Apr
Practice notes
This Practice Note summarises a number of key and/or illustrative cases relevant to the rule against reflective loss.For further guidance on the...
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23rd Mar

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