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Creditor communication and decision procedures

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Latest Restructuring & Insolvency News

Insolvency pros warn calls for reforms are overkill

Insolvency pros warn calls for reforms are overkill

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Insolvency pros warn calls for reforms are overkill

Restructuring & Insolvency weekly highlights—23 September 2021

Restructuring & Insolvency weekly highlights—23 September 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Restructuring & Insolvency weekly highlights—23 September 2021

Deloitte partners escape £19m claim over Barclays swaps

Deloitte partners escape £19m claim over Barclays swaps

The following Banking & Finance news provides comprehensive and up to date legal information on Deloitte partners escape £19m claim over Barclays swaps

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Slovenia

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Slovenia

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Slovenia

Featured Restructuring & Insolvency content

What do insolvency searches at The Gazette reveal?

What do insolvency searches at The Gazette reveal?

What do insolvency searches at The Gazette reveal?What is The Gazette?The Gazette provides a permanent official public record of important statutory...

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

Debt for equity swaps

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in...

The Loan Market Association

The Loan Market Association

The Loan Market AssociationAims of the Loan Market AssociationThe Loan Market Association (LMA) was established in 1996 as a trade body with a key...

Practice notes

Interference with goods in an insolvency situation

Interference with goods in an insolvency situationApplication to insolvencyFollowing an appointment, an office-holder will need to establish what...
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19th May
Practice notes

Role, powers, functions and duties of a liquidator

Role, powers, functions and duties of a liquidatorCoronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further...
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19th May
Practice notes

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 2016The Insolvency...
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Produced in partnership with Richard Bowles 19th May
Practice notes

Secured creditors under a CVA—including effect on guarantees

Secured creditors under a CVA—including effect on guaranteesNeither the company nor its creditors may approve a company voluntary arrangement (CVA)...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 19th May
Practice notes

Court-appointed receivers—when a court will appoint a receiver and who may be appointed

Court-appointed receivers—when a court will appoint a receiver and who may be appointedThis Practice Note covers receivers who are appointed by the...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 19th May
Practice notes

Practice Direction on Insolvency Proceedings

Practice Direction on Insolvency ProceedingsCoronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and...
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19th May
Q&As

The wording of paragraph 83 of Schedule B1 to the Insolvency Act 1986 suggests that an administrator only needs to think that the total amount which each creditor is likely to receive has been set aside, not that the secured creditor(s) have been or will be paid in full. Where an administrator is pursuing office-holder claims—such that any recoveries will not be caught by any security—can the administrator convert the administration to a creditors’ voluntary liquidation where secured creditors will not be paid in full or at all? The consent of secured and other creditors to extend the administration has not been forthcoming.

The wording of paragraph 83 of Schedule B1 to the Insolvency Act 1986 suggests that an administrator only needs to think that the total amount which...
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Produced in partnership with Caroline Clark 19th May
Practice notes

Effect on proceedings against a company being wound up and after a winding-up order is made

Effect on proceedings against a company being wound up and after a winding-up order is madeCoronavirus (COVID-19)This content contains guidance on...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 19th May
Practice notes

Coronavirus (COVID-19)—Changes to the court process in insolvency proceedings

Coronavirus (COVID-19)—Changes to the court process in insolvency proceedingsThe UK Government’s policy of social distancing in order to slow the...
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19th May
tag iconCOVID-19
Q&As

Can a claim be made against a company for trading whilst insolvent? If the company is conducting litigation, does this constitute ‘trading’? If so, can a director be held personally liable?

Can a claim be made against a company for trading whilst insolvent? If the company is conducting litigation, does this constitute ‘trading’? If so,...
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19th May
Practice notes

Annulment of bankruptcy orders

Annulment of bankruptcy ordersThis Practice Note looks at the annulment of bankruptcy orders under section 282 of the Insolvency Act 1986 (IA 1986)...
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19th May
Practice notes

Equitable charges v legal charges—impact on saleability

Equitable charges v legal charges—impact on saleabilityThis Practice Note considers the position of a security holder who has an equitable mortgage or...
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Produced in partnership with Jonathan Titmuss of Hardwicke 19th May
Practice notes

Bankruptcy petitions—process and procedure

Bankruptcy petitions—process and procedureBefore the hearing of the creditors’ bankruptcy petition takes place, there are a number of steps that must...
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19th May
Practice notes

Compulsory winding up of a company—the process and procedure

Compulsory winding up of a company—the process and procedureSTOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 19th May
Practice notes

Wrongful trading claims under sections 214 and 246ZB of the Insolvency Act 1986

Wrongful trading claims under sections 214 and 246ZB of the Insolvency Act 1986What is wrongful trading?Wrongful trading is a claim which arises under...
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19th May
tag iconIn-house
Practice notes

A guide to independent business reviews

A guide to independent business reviewsThis Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around...
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Produced in partnership with Allan Kelly of RSM 19th May

Most recent Creditor communication and decision procedures content

Practice notes

R3 creditor guides

R3 creditor guidesWho are R3?R3 is the trade association for the UK’s insolvency, restructuring, advisory and turnaround professionals. They represent...
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8th Sep
Practice notes

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

Creditors' decision-making in a liquidation—the position under the Insolvency (England and Wales) Rules 2016The Insolvency (England and Wales) Rules...
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Produced in partnership with Marcus Haywood of South Square Chambers 23rd Aug
Q&As

Do the qualifying decision procedures and deemed consent procedure in sections 246ZE–246ZF of the Insolvency Act 1986 (IA 1986) apply in members’ voluntary liquidations? IA 1986, s 91 provides that the liquidator should be appointed at a meeting of members, but once appointed would IA 1986, ss 246ZE–246ZF apply?

Do the qualifying decision procedures and deemed consent procedure in sections 246ZE–246ZF of the Insolvency Act 1986 (IA 1986) apply in members’...
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18th Aug
Q&As

Where a creditor has voted by proxy, is the office-holder required to share the proxy form with another creditor who has requested to see it? Rule 14.6 states the office-holder should allow inspection of the proof of debt, but is silent in terms of the proxy. Is a creditor entitled to see how other creditors have voted?

Where a creditor has voted by proxy, is the office-holder required to share the proxy form with another creditor who has requested to see it? Rule...
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18th Aug
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?

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...
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Produced in partnership with Helen Kavanagh 18th Aug
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?

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...
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18th Aug
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?

If a liquidator’s fee proposal is rejected by creditors under the decision-making procedure under the Insolvency (England and Wales) Rules 2016, SI...
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Produced in partnership with Ian Defty of Begbies Traynor 18th Aug
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?

What, if anything, has changed by virtue of the Insolvency (England and Wales) Rules 2016 when considering this question: In a creditors voluntary...
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18th Aug
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?

How can members of a company in member voluntary liquidation (where the liquidator was appointed by the court) summon/requisition a general meeting of...
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Produced in partnership with Phillip Patterson of Gatehouse Chambers 18th Aug
Precedents

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

Guide and script for holding standard creditor meetings—the position under the Insolvency (England and Wales) Rules 2016IntroductionThe time is now...
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Produced in partnership with Robert Paterson of Moon Beever 18th Aug
Practice notes

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

The Insolvency (England and Wales) Rules 2016—Part 15 and 16: Creditors meetings and proxies [Archived]ARCHIVED: This Practice Note has been archived...
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Produced in partnership with Eleanor Temple of Kings Chambers 18th Aug
Practice notes

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

Creditors' decision-making in an IVA—the position under the Insolvency (England and Wales) Rules 2016Creditors’ decision procedureGeneralIt is the...
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Produced in partnership with Marcus Haywood of South Square Chambers 18th Aug
Practice notes

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

Small Business, Enterprise and Employment Act 2015—position of creditors (decision making, notices, small debts etc) [Archived]This Practice Note has...
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18th Aug
Practice notes

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

Creditors’ meetings and proxies—the position under the Insolvency (England and Wales) Rules 2016Coronavirus (COVID-19)This content is affected by the...
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Produced in partnership with South Square Chambers and BDO 18th Aug
Practice notes

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

Creditors’ consideration of CVA proposals—the position under the Insolvency (England and Wales) Rules 2016GeneralThe Insolvency (England and Wales)...
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Produced in partnership with William Willson of South Square Chambers 18th Aug
Practice notes

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

Creditors' decision procedures in administration—the position under the Insolvency (England and Wales) Rules 2016AdministrationThe purpose of an...
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Produced in partnership with South Square Chambers and BDO 18th Aug
Practice notes

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 2016The Insolvency...
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Produced in partnership with Richard Bowles 18th Aug
Practice notes

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

Voting and creditors' decision procedures—the position under the Insolvency (England and Wales) Rules 2016The Insolvency (England and Wales) Rules...
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Produced in partnership with South Square Chambers and BDO 18th Aug
Practice notes

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

Creditors’ decision procedure in administrative receiverships—the position under the Insolvency (England and Wales) Rules 2016Creditors’ decision...
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Produced in partnership with Marcus Haywood of South Square Chambers 18th Aug
Practice notes

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

Creditors’ meetings: approval of schemes of arrangement the position under the Insolvency (England and Wales) Rules 2016The Insolvency (England and...
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Produced in partnership with South Square Chambers and BDO 30th Jul

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