Guides to dealing with a distressed business

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Latest Restructuring & Insolvency News

Application to restore entities suspected of involvement in international money-laundering granted (Re Harrington & Charles Trading Company Ltd)

The following Corporate news provides comprehensive and up to date legal information on Application to restore entities suspected of involvement in international money-laundering granted (Re Harrington & Charles Trading Company Ltd)

Coronavirus (COVID-19) update—restrictions on enforcement extended

The following Banking & Finance news provides comprehensive and up to date legal information on Coronavirus (COVID-19) update—restrictions on enforcement extended

Approving schemes of arrangement—micro returns for creditors of micro credit provider (Re Provident SPV Ltd)

The following Financial Services news provides comprehensive and up to date legal information on Approving schemes of arrangement—micro returns for creditors of micro credit provider (Re Provident SPV Ltd)

High Court clarifies the right approach to determining a company’s centre of main interests in the context of pre-Brexit corporate insolvency (Melars Group Ltd v East-West Logisitics LLP)

Featured Restructuring & Insolvency content

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 2016The primary...

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...

Scotland: the Accountant in Bankruptcy

Scotland: the Accountant in BankruptcyThe office of the Accountant in Bankruptcy (AiB) was created by section 156 of the Bankruptcy (Scotland) Act...

Practice notes

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...

19th May

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

Statements of Insolvency Practice (SIPs)—a quick guide

Statements of Insolvency Practice (SIPs)—a quick guideWhat are Statements of Insolvency Practice?Insolvency practitioners (IPs) are required to comply...

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

Cashflow and balance sheet tests for insolvency

Cashflow and balance sheet tests for insolvencyIntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and...

Produced in partnership with South Square Chambers 19th May

Practice notes

Roles, powers and duties of an administrative receiver

Roles, powers and duties of an administrative receiverWhat is an administrative receiver?The Insolvency Act 1986 (IA 1986) sets out what an...

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

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

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

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,...

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)...

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...

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...

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...

Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 19th May

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...

Produced in partnership with Allan Kelly of RSM 19th May

Most recent Guides to dealing with a distressed business content

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...

6th Jun

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 5th Jun

COVID-19

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...

5th Jun

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...

5th Jun

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 5th Jun

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)...

5th Jun

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...

5th Jun

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...

5th Jun

COVID-19

Practice notes