Creditor communication and decision procedures

Practice notes

The deemed consent procedure, decision-making procedure, and meetings—the position under the Insolvency (England and Wales) Rules 2016

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

Produced in partnership with Richard Bowles 15th Jan

Practice notes

Creditors' decision-making in a liquidation—the position under the Insolvency (England and Wales) Rules 2016

The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) provide a revised scheme for decision-making in all insolvency procedures. The...

Produced in partnership with South Square and BDO LLP 15th Jan

Practice notes

Creditors’ decision procedure in administrative receiverships—the position under the Insolvency (England and Wales) Rules 2016

The Insolvency (England and Wales) Rules 2016 (IR 2016) provide a revised scheme for decision-making in all insolvency procedures. The detailed...

Produced in partnership with South Square and BDO LLP 15th Jan

Practice notes

Voting and creditors' decision procedures—the position under the Insolvency (England and Wales) Rules 2016

The Insolvency (England and Wales) Rules 2016 (IR 2016) provide a revised scheme for decision-making in all insolvency procedures. The detailed...

Produced in partnership with South Square and BDO LLP 15th Jan

Practice notes

Creditors’ meetings: approval of schemes of arrangement the position under the Insolvency (England and Wales) Rules 2016

The Insolvency (England and Wales) Rules 2016 (IR 2016) provide a revised scheme for decision-making in all insolvency procedures. The detailed...

Produced in partnership with South Square and BDO LLP 15th Jan

Practice notes

The Insolvency (England and Wales) Rules 2016—communications [Archived]

This Practice Note has been archived and is not maintained.Summary points•Electronic communication provisions extended through deemed consent where...

Produced in partnership with David Menzies of ICAS 15th Jan

Practice notes

Creditors' decision-making in an IVA—the position under the Insolvency (England and Wales) Rules 2016

Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...

Produced in partnership with South Square and BDO LLP 15th Jan

Practice notes

Creditors’ consideration of CVA proposals—the position under the Insolvency (England and Wales) Rules 2016

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

Produced in partnership with William Willson of South Square Chambers 15th Jan

Practice notes

Small Business, Enterprise and Employment Act 2015—position of creditors (decision making, notices, small debts etc) [Archived]

This Practice Note has been archived and is not maintained.The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) received Royal Assent...

15th Jan

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 15 and 16: Creditors meetings and proxies [Archived]

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...

Produced in partnership with Eleanor Temple of Kings Chambers 15th Jan

Practice notes

Creditors' decision procedures in administration—the position under the Insolvency (England and Wales) Rules 2016

The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) provide a revised scheme for decision-making in all insolvency procedures. The...

Produced in partnership with South Square and BDO LLP 15th Jan

Practice notes

Creditors’ meetings and proxies—the position under the Insolvency (England and Wales) Rules 2016

The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 came into effect on 6 April 2017. With that saw the introduction of a deemed...

Produced in partnership with South Square and BDO LLP 8th Jan

Q&As

Is there a statutory definition of ‘connected with’ for the purpose of the Insolvency (England and Wales) Rules 2016, SI 2016/1024, r 15.34?

This Q&A focuses on the definition of ‘connected with’ for the purpose of an administration and a proposal for a company voluntary arrangement (CVA)....

Produced in partnership with Helen Kavanagh 8th Jan

Q&As

How can members of a company in member voluntary liquidation (where the liquidator was appointed by the court) summon/requisition a general meeting of the company for the purposes of removing the liquidator of the company?

When a company enters into member voluntary liquidation (MVL), a liquidator is typically appointed by the company in a general meeting (section 91(1)...

Produced in partnership with Phillip Patterson of Hardwicke Chambers 8th Jan

Q&As

If a liquidator’s fee proposal is rejected by creditors under the decision-making procedure under the Insolvency (England and Wales) Rules 2016, SI 2016/1024, r 18.20, must they then apply to court for a resolution on their fees or can they go back to creditors with a second proposal under the same procedure before asking the court to resolve the issue?

The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 18.16 sets out the remuneration principles. These principles provide that an...

Produced in partnership with Ian Defty of CVR Global 8th Jan

Precedents

Guide and script for holding standard creditor meetings—the position under the Insolvency (England and Wales) Rules 2016

IntroductionThe time is now [insert the exact time] and I am opening the meeting of creditors of [insert name of the company] called as a general...

Produced in partnership with Robert Paterson of Moon Beever 8th Jan

Q&As

What, if anything, has changed by virtue of the Insolvency (England and Wales) Rules 2016 when considering this question: In a creditors voluntary liquidation, if there is a gap between the date the shareholders’ meeting appoints a liquidator, and the section 98 meeting where the creditors appoint a liquidator, what powers do the shareholders’ appointed liquidator have over the company during this short period?

Abolition of section 98 meetingsSection 98 is removed from the Insolvency Act 1986, (IA 1986). Creditor approval of a liquidator in a creditors...

29th Nov

Q&As

What test/threshold should a trustee in bankruptcy apply when adjudicating on whether to admit a proof of debt for voting purposes? How does this compare with the test/threshold to apply when adjudicating on a proof of debt for dividend purposes? Is the statement of reasons under the Insolvency (England and Wales) Rules 2016, SI 2016/1024, r 14.7 (IR 2016) only required in respect of rejecting a proof of debt for dividend purposes?

If a creditor wishes to try and recover from an insolvency estate, they must submit a proof of debt, unless the Insolvency (England and Wales) Rules...

29th Nov