Order of payments

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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
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
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
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)...
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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
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 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 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
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
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
A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...
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9th Nov
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
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
Practice notes
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the...
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9th Nov

Most recent Order of payments content

Practice notes
This Brexit Deposit Guarantee Schemes Directive 2014/49/EU (EU DGSD) quick guide details UK legislation and retained EU legislation that were amended...
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10th May
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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28th Apr
Q&As
This Q&A considers a scenario where:•there is a business-to-business commercial contract which is not subject to specific industry or sector...
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Produced in partnership with XXIV Old Buildings 16th Apr
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
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 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
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
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
How did the problem arise?Lehman Brothers International Europe (in administration) (LBIE) was (rather unusually) a private unlimited company and was...
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23rd Mar
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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23rd Mar
Practice notes
GeneralWhere the assets of a company in liquidation are insufficient to enable it to pay liabilities as well as the expenses of the liquidation, the...
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Produced in partnership with South Square Chambers and BDO 23rd Mar
Practice notes
The order of distribution in liquidation, following the realisation of security by secured creditors (other than those with floating charges) for...
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Produced in partnership with South Square Chambers 23rd Mar
Practice notes
The order of distribution of a company’s assets in administration is found in the Insolvency Act 1986 (IA 1986) and the Insolvency (England and Wales)...
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Produced in partnership with Robert Avis of XXIV Old Buildings 23rd Mar
Practice notes
LiquidationThe order of distribution in liquidation, following the realisation of security by fixed charge secured creditors for their benefit, is as...
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Produced in partnership with South Square Chambers 23rd Mar
Practice notes
In finance transactions, the terms 'netting' and 'set-off' are sometimes used interchangeably even though they are not the same thing. The confusion...
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19th Mar

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