Guides to dealing with a distressed business

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Latest Restructuring & Insolvency News

Wherever I lay my hat is not necessarily my home (for the purposes of bankruptcy) (Lakatamia Shipping Company Ltd v Hsin Chi Su)

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Wherever I lay my hat is not necessarily my home (for the purposes of bankruptcy) (Lakatamia Shipping Company Ltd v Hsin Chi Su)

Restructuring & Insolvency weekly highlights—29 July 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Restructuring & Insolvency weekly highlights—29 July 2021

Extension of time refused by Court of Appeal despite coronavirus (COVID-19) (Watts v Revenue and Customs Commissioners)

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Extension of time refused by Court of Appeal despite coronavirus (COVID-19) (Watts v Revenue and Customs Commissioners)

What is the latest news on France’s restructuring and insolvency law reforms?

The following Banking & Finance news provides comprehensive and up to date legal information on What is the latest news on France’s restructuring and insolvency law reforms?

Featured Restructuring & Insolvency content

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...

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeStatutory declaration of solvencyA company...

Insolvency searches for companies at the Central Registry

Insolvency searches for companies at the Central RegistryWhat is the Central Registry of Winding-up Petitions?The Central Registry of Winding-up...

Key elements of a standstill agreement

Key elements of a standstill agreementWhen restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of...

Practice notes

US bankruptcy financing—debtor-in-possession (DIP) financing

US bankruptcy financing—debtor-in-possession (DIP) financingDIP financing generallyDebtor-in-possession financing (DIP financing) is new,...

Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 19th May

In-house

Practice notes

Role, powers, functions and duties of a trustee in bankruptcy

Role, powers, functions and duties of a trustee in bankruptcyThis Practice Note looks at the roles, powers, functions and duties of the trustee in...

19th May

Practice notes

Marshalling debt

Marshalling debtWhat is marshalling?Marshalling is where two or more creditors are owed money by the same debtor, and one creditor has more than one...

Produced in partnership with Karen Jacobs of Dentons 19th May

Practice notes

Statement of Insolvency Practice 16 (SIP 16)—pre-packaged sales in administration

Statement of Insolvency Practice 16 (SIP 16)—pre-packaged sales in administrationInsolvency practitioners (IPs) are required to comply with both...

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...

Produced in partnership with John Hughes of Shakespeare Martineau LLP 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...

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...

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...

19th May

COVID-19

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)...

19th May

Practice notes

Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986

Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986It is possible for a claim to be brought under section 423 of the...

19th May

In-house

Practice notes

The CVA proposal and procedure—the position under the Insolvency (England and Wales) Rules 2016

The CVA proposal and procedure—the position under the Insolvency (England and Wales) Rules 2016The company voluntary arrangement (CVA) proposal will...

Produced in partnership with KPMG and Lexa Hilliard QC of Wilberforce Chambers 19th May

Precedents

Certificate of urgency for applications in insolvency proceedings

Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...

19th May

Practice notes

Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016

Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016IntroductionSet-off refers to claims that may be set-off against...

Produced in partnership with South Square Chambers and BDO 19th May

In-house

Practice notes

What is a statutory demand?

What is a statutory demand?This Practice Note looks at what a statutory demand is and what it seeks to achieve in both corporate and personal...

19th May

Practice notes

Covenant waivers and resets

Covenant waivers and resetsOne of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver,...

19th May

Practice notes

Basic introduction to super senior, senior, mezzanine and junior debt

Basic introduction to super senior, senior, mezzanine and junior debtThe range of funding options open to companies has exploded, resulting in a vast...

19th May

Most recent Guides to dealing with a distressed business content

Q&As

Can a director (who is a sole director, the major shareholder and one of the company’s creditors) of an insolvent company decide to sell off the company’s assets to pay creditors of his own accord and outside of any insolvency process?

Can a director (who is a sole director, the major shareholder and one of the company’s creditors) of an insolvent company decide to sell off the...

1st Aug

Q&As

Can a company carry on trading legally if it is insolvent?

Can a company carry on trading legally if it is insolvent?When a company is solvent and has no financial concerns, broadly speaking the company and...

31st Jul

Q&As

What considerations should practitioners be taking into account when deciding whether or not the provisions on ipso facto clauses introduced by the Corporate Insolvency and Governance Act 2020 apply to IP licences? Would the considerations be different as between (a) a pure IP licence, and (b) a commercial agreement containing an element of IP licensing (eg a franchise agreement or a sponsorship agreement)?

What considerations should practitioners be taking into account when deciding whether or not the provisions on ipso facto clauses introduced by the...

Produced in partnership with Caroline Clark 31st Jul

COVID-19

Q&As

If a customer of a supplier goes into an insolvency process, is it possible to recover debts owed directly from the customer’s end users? If not, what options are open to recover money owed?

If a customer of a supplier goes into an insolvency process, is it possible to recover debts owed directly from the customer’s end users? If not, what...

31st Jul

Practice notes

Shareholder’s guide to dealing with a company in financial difficulties

Shareholder’s guide to dealing with a company in financial difficultiesSTOP PRESS: The Corporate Insolvency and Governance Act (CIGA 2020) is in force...

31st Jul

COVID-19

Practice notes

A creditor’s guide to dealing with a company in financial difficulty

A creditor’s guide to dealing with a company in financial difficultySTOP PRESS: The Corporate Insolvency and Governance Act (CIGA 2020) is in force...

31st Jul

Practice notes

Dealing with suppliers, customers and ROT claims

Dealing with suppliers, customers and ROT claimsAlthough suppliers are generally unsecured creditors (unless they establish a valid retention of title...

Produced in partnership with Tom Shepherd of 4 New Square 31st Jul

Practice notes

Private Equity guide to acquiring and managing distressed portfolio companies

Private Equity guide to acquiring and managing distressed portfolio companiesSTOP PRESS: The Corporate Insolvency and Governance Act 2020 (CIGA 2020)...

31st Jul

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 14: Claims by and distributions to creditors in administration, winding-up and bankruptcy [Archived]

The Insolvency (England and Wales) Rules 2016—Part 14: Claims by and distributions to creditors in administration, winding-up and bankruptcy...

Produced in partnership with Madeleine Jones of South Square 30th Jul

Guides to dealing with a distressed business

View Restructuring & Insolvency by content type:

Latest Restructuring & Insolvency News

Wherever I lay my hat is not necessarily my home (for the purposes of bankruptcy) (Lakatamia Shipping Company Ltd v Hsin Chi Su)

Restructuring & Insolvency weekly highlights—29 July 2021

Extension of time refused by Court of Appeal despite coronavirus (COVID-19) (Watts v Revenue and Customs Commissioners)

What is the latest news on France’s restructuring and insolvency law reforms?

Featured Restructuring & Insolvency content

Debt for equity swaps

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made

Insolvency searches for companies at the Central Registry

Key elements of a standstill agreement

Most recent Guides to dealing with a distressed business content

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Breach of statutory duty

ECHR, art 5(4)—rights and duties

Enforcing a warrant of control

Proprietary estoppel

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