Order of payments

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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
STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...
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Produced in partnership with Stephen Allinson 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
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
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
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
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
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
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
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
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom 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 >
Produced in partnership with South Square and BDO 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...
Read More >
9th Nov

Most recent Order of payments content

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 15th Jan
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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15th Jan
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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15th Jan
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 15th Jan
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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15th Jan
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 and BDO LLP 15th Jan
Practice notes
Administrative ReceivershipThe order of distribution in administrative receivership is not well-delineated in IA 1986 and (from 6 April 2017), IR...
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Produced in partnership with South Square 15th Jan
Practice notes
IntroductionThis Practice Note gives a basic overview of the anti-deprivation principle (the ADP), and difference between the anti-deprivation...
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Produced in partnership with South Square 15th Jan
Q&As
This Q&A assumes that the set-off referred to would be between an insolvent debtor company subject to a company voluntary arrangement under the...
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Produced in partnership with Caroline Clark 8th Jan
Q&As
It is likely that the plots will be covered by some sort of new homes guarantee, for example NHBC Buildmark Cover (see Practice Note: New home...
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29th Nov
Q&As
This Q&A refers to a members' voluntary liquidation (MVL), creditors' voluntary liquidation (CVL) or compulsory liquidation, not s 110 demerger...
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29th Nov
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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29th Nov
Q&As
For the purposes of this Q&A we have assumed that expenses have been incurred by a previous liquidator and there are no enough funds to cover the...
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29th Nov
Q&As
Equitable set-offEquitable set-off arises when two claims are so closely connected that it would be unjust to allow one party to enforce its claim...
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28th Nov
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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25th Nov

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