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Latest Restructuring & Insolvency News

Claims arising from a fraudulent investment scheme resulting in corporate insolvency (Biscoe (as joint liquidators of Equitable Law Capital Ltd) v Milner)

The following Dispute Resolution news provides comprehensive and up to date legal information on Claims arising from a fraudulent investment scheme resulting in corporate insolvency (Biscoe (as joint liquidators of Equitable Law Capital Ltd) v Milner)

Restructuring & Insolvency weekly highlights—15 April 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Restructuring & Insolvency weekly highlights—15 April 2021

Comment—UK lenders square up to tricky task of clawing back Covid-19 loans

The following Banking & Finance news provides comprehensive and up to date legal information on Comment—UK lenders square up to tricky task of clawing back Covid-19 loans

Changes to SIP 13 and SIP 16 and withdrawal of SIP 4

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Changes to SIP 13 and SIP 16 and withdrawal of SIP 4

Featured Restructuring & Insolvency content

Key elements of a standstill agreement

When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the...

Compulsory winding up of a company—the process and procedure

STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose...

Effect of equitable, contractual and structural subordination

Senior creditors will ensure that in addition to having higher security rights over junior creditors, juniors are also subordinated to them.Generally...

Debt for equity swaps

A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...

Practice notes

US ipso facto clauses

Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...

Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan

Practice notes

The deemed consent procedure, decision-making procedure, and meetings—the position under the Insolvency (England and Wales) Rules 2016

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...

Produced in partnership with Richard Bowles 12th Jan

Practice notes

Winding-up and administration searches for companies at the Central Registry

STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...

Produced in partnership with Stephen Allinson 12th Jan

Practice notes

Cashflow and balance sheet tests for insolvency

IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...

Produced in partnership with South Square 12th Jan

Practice notes

What is considered onerous property or contracts?

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...

9th Nov

Practice notes

Covenant waivers and resets

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...

9th Nov

Practice notes

Practice Direction on Insolvency Proceedings

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

9th Nov

Practice notes

Loan to value covenants

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...

Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan

Practice notes

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

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...

9th Nov

In-house

Practice notes

How to serve a demand for payment

A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...

Produced in partnership with James Hannant of Guildhall Chambers 12th Jan

Practice notes

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

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...

Produced in partnership with South Square and BDO LLP 12th Jan

In-house

Practice notes

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

DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...

Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan

In-house

Practice notes

Misfeasance claims under section 212 of the Insolvency Act 1986

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...

9th Nov

In-house

Practice notes

A guide to independent business reviews

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...

Produced in partnership with Allan Kelly of RSM 12th Jan

Practice notes

Avoiding invalid floating charges under section 245 of the Insolvency Act 1986

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

9th Nov

Practice notes

Interim receivers

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

Produced in partnership with South Square and BDO LLP 12th Jan

Most recent Industry/sector guides for R&I lawyers content

Practice notes

Solvency II—essentials

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

16th Apr

COVID-19

Practice notes

Special resolution regime for banks and building societies—rationale, scope, application and interpretation

The economic and legal backdropGeneral corporate insolvency law was inappropriate for distressed banks. In particular:•the insolvency practitioners...

Produced in partnership with Dominic McCahill of Skadden 14th Apr

Practice notes

Taking security over aircraft

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

Produced in partnership with Norton Rose Fulbright 14th Apr

Practice notes

Aviation finance—PDP financing

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

Produced in partnership with Norton Rose Fulbright 14th Apr

Practice notes

Corporate Insolvency and Governance Act 2020 and other developments in insolvency and restructuring—implications for construction contracts

The Corporate Insolvency and Governance Act 2020 (CIGA 2020) was introduced as part of the government’s response to the economic impact of the...

13th Apr

Practice notes

Construction insolvency—how to spot problems and how to protect yourself—contractors

Spotting the early symptoms of employer insolvency•most importantly, a contractor needs to keep alert to the employer's financial status•the...

Produced in partnership with CMS 13th Apr

Practice notes

Insolvency in the Further and Higher Education Sector

This Practice Note summarises the insolvency regime introduced by the Technical and Further Education Act 2017 (TAFEA 2017), the Further Education...

Produced in partnership with Neil Smyth of Mills & Reeve LLP 9th Apr

Practice notes

Guide to airline insolvency—international considerations and implications for office-holders

This Practice Note forms part of a set of Practice Notes on airline insolvency, for further information, see Practice Notes:•Guide to airline...

Produced in partnership with Mark Craggs of Norton Rose Fulbright 9th Apr

Practice notes

Guide to insolvency in the construction industry

This Practice Note considers common issues that may arise out of insolvency in the construction industry. It considers the effect and relevance of...

Produced in partnership with Gurbinder Grewal, Ian Fox and Michael Wright of Dentons UK and Middle East LLP 9th Apr

Practice notes

Insolvency of insurers

Applicable legislationInsolvency laws generally make special provisions for insurance companies, because of the regulated status of the industry and...

Produced in partnership with Geraldine Quirk of Bryan Cave Leighton Paisner 9th Apr

Practice notes

Liquor licences for R&I professionals

What is the main legislation governing this area?The Licensing Act 2003 (LA 2003) governs the provision of licensable activities in England and Wales...

Produced in partnership with Nicola Smith of Squire Patton Boggs 9th Apr

Practice notes

Guide to insolvency in the retail sector

This Practice Note provides a brief summary of the retail landscape and highlights some of the key legal and practical issues facing office-holders...

Produced in partnership with Carolyn Jones 9th Apr

COVID-19

Practice notes

Guide to insolvency in the shipping industry

Insolvency law and admiralty or shipping law both look towards international harmonisation of legal regimes with the unification of certain rules...

Produced in partnership with Andrew Rigden Green of Stephenson Harwood 9th Apr

Practice notes

Insolvency in the food industry

Sector trends, composition and challengesThe number of insolvencies in the food industry is increasing. The increase stems from changes in the...

Produced in partnership with Paul Caldicott 9th Apr

COVID-19

Practice notes

Social housing administration

Insolvency of private not-for-profit registered providers of social housingThe social housing sector in England is commonly described as a ‘no...

Produced in partnership with Eleanor James of Trowers & Hamlins LLP 9th Apr

Practice notes

Guide to airline insolvency—introduction

Introduction to the airline industryThe purpose of this Practice Note is to provide an overview of some of the key features of airline insolvencies in...

Produced in partnership with Mark Craggs of Norton Rose Fulbright 9th Apr

COVID-19

Practice notes

Third Parties (Rights Against Insurers) Act 2010

This Practice Note considers the key provisions of the Third Parties (Rights Against Insurers) Act 2010 (the 2010 Act), which replaced the Third...

9th Apr

Practice notes

Retail sector insolvency—use of CVAs

Introduction to company voluntary arrangements (CVAs)A CVA is a tool available to a company in financial difficulty to restructure its debts. In...

Produced in partnership with Cathryn E Williams of Crowell & Moring LLP 9th Apr

Practice notes

Insolvency in the education sector and the Local Government Pension Scheme

What is the Local Government Pension Scheme?The main pension scheme for local authorities is the Local Government Pension Scheme (LGPS). The LGPS is a...

Produced in partnership with Laura Sayer of Mills & Reeve LLP 9th Apr

In-house

Practice notes