Directors' duties

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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
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
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
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
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 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
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
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
The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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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
BrexitBREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note....
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9th Nov
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
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

Most recent Directors' duties content

Practice notes
Stop pressOn 8 October 2020, the Insolvency Service published the outcome of its review conducted into the impact of the voluntary industry measures...
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5th May
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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5th May
Practice notes
Directors of companies which become, or are likely to become, insolvent face additional considerations and are under a duty to minimise losses to the...
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5th May
Practice notes
A situation frequently arises where payments are made on account of dividends during a financial year, with the intention of declaring a dividend at...
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5th May
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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4th May
Practice notes
General duty of liquidators and administrators where there has been an unlawful transactionIf, during the course of a liquidator's or administrator's...
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4th May
Practice notes
Relevance of limitation periods to insolvency claimsLimitation periods refer to the time during which a claim may be brought. If court proceedings are...
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22nd Apr
Precedents
Applicant: [insert initials and surname]: 1st: (exhibits).1–4: [insert date] 20[insert year]Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH...
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8th Apr
Precedents
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules...
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Produced in partnership with Christopher Brockman of Enterprise Chambers 8th Apr
Precedents
The Small Business, Enterprise and Employment Act 2015 allows administrators to bring fraudulent and wrongful trading claims—previously, only...
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8th Apr
Precedents
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules...
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Produced in partnership with Christopher Brockman of Enterprise Chambers 8th Apr
Precedents
Applicant: [insert initials and surname]: 1st: (exhibits).1–4: [insert date] 20[insert year]Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH...
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8th Apr
Precedents
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules...
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8th Apr
Precedents
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules...
Read More >
8th Apr
Precedents
Applicant: [insert initials and surname]: 1st: (exhibits).1–4: [insert date] 20[insert year]Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH...
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8th Apr
Q&As
Limitation generallyWhen seeking to bring a claim it is important to ensure that it is brought within the time frames provided for under the...
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7th Apr

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