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Latest Restructuring & Insolvency News

Change of position and proving irreversibility (Atkinson & Mummery v Varma)

Change of position and proving irreversibility (Atkinson & Mummery v Varma)

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Change of position and proving irreversibility (Atkinson & Mummery v Varma)

Reservation of the right to pursue an insolvent company upon settlement with a co-defendant (Re A C Norton Ltd (in liquidation))

Reservation of the right to pursue an insolvent company upon settlement with a co-defendant (Re A C Norton Ltd (in liquidation))

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Reservation of the right to pursue an insolvent company upon settlement with a co-defendant (Re A C Norton Ltd (in liquidation))

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Ireland

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Ireland

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Ireland

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

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)

Featured Restructuring & Insolvency content

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 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 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 Bankruptcy

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

A mortgagee in possession has sold a property at auction. The mortgagee's charge is dated 20 February 2008. There is an equitable charge created by an interim charging order in favour of a second lender, registered on the 25th October 2010. Will the sale by the mortgagee in possession overreach the subsequent equitable charge and if so, will the equitable charge simply fall away or should the purchaser take any further steps to remove it from the register?

A mortgagee in possession has sold a property at auction. The mortgagee's charge is dated 20 February 2008. There is an equitable charge created by an interim charging order in favour of a second lender, registered on the 25th October 2010. Will the sale by the mortgagee in possession overreach the subsequent equitable charge and if so, will the equitable charge simply fall away or should the purchaser take any further steps to remove it from the register?

A mortgagee in possession has sold a property at auction. The mortgagee's charge is dated 20 February 2008. There is an equitable charge created by an...

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...
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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...
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Produced in partnership with Karen Jacobs of Dentons 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...
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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...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 19th May
Practice notes

Interference with goods in an insolvency situation

Interference with goods in an insolvency situationApplication to insolvencyFollowing an appointment, an office-holder will need to establish what...
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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...
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19th May
Practice notes

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

The deemed consent procedure, decision-making procedure, and meetings—the position under the Insolvency (England and Wales) Rules 2016The Insolvency...
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Produced in partnership with Richard Bowles 19th May
Practice notes

Secured creditors under a CVA—including effect on guarantees

Secured creditors under a CVA—including effect on guaranteesNeither the company nor its creditors may approve a company voluntary arrangement (CVA)...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 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...
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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...
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Produced in partnership with Caroline Clark 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...
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19th May
Practice notes

Wrongful trading claims under sections 214 and 246ZB of the Insolvency Act 1986

Wrongful trading claims under sections 214 and 246ZB of the Insolvency Act 1986What is wrongful trading?Wrongful trading is a claim which arises under...
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19th May
tag iconIn-house
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...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 19th May
Practice notes

Prohibited names under section 216 of the Insolvency Act 1986

Prohibited names under section 216 of the Insolvency Act 1986The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act...
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19th May
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...
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Produced in partnership with KPMG and Lexa Hilliard QC of Wilberforce Chambers 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...
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19th May

Most recent Charities and education content

Q&As

Does a company charity (in administration) have to file accounts/annual returns with the Commission even if it has ceased trading? Does a company in administration have to file docs at Companies House? Is there anything special that a company in administration needs to do when selling land, property and assets from administration? It is not to connected party, but if it was, would that make a difference?

Does a company charity (in administration) have to file accounts/annual returns with the Commission even if it has ceased trading? Does a company in...
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31st Jul
Q&As

Can a corporate charity (limited by guarantee), that is not insolvent, wind itself up? Are there any restrictions on how it should distribute the balance standing in its bank account? What is the process for distributing surplus assets?

Can a corporate charity (limited by guarantee), that is not insolvent, wind itself up? Are there any restrictions on how it should distribute the...
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31st Jul
Q&As

Are bodies governed by the Co-operative and Community Benefit Societies Act 2014 able to use the members’ voluntary liquidation procedure set out in the Insolvency Act 1986 and the Insolvency (England and Wales) Rules 2016?

Are bodies governed by the Co-operative and Community Benefit Societies Act 2014 able to use the members’ voluntary liquidation procedure set out in...
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31st Jul
Practice notes

Insolvency in the education sector and the Local Government Pension Scheme

Insolvency in the education sector and the Local Government Pension SchemeWhat is the Local Government Pension Scheme?The main pension scheme for...
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Produced in partnership with Laura Sayer of Mills & Reeve LLP 31st Jul
tag iconIn-house
Practice notes

Charity insolvency—personal liability of charity trustees

Charity insolvency—personal liability of charity trusteesFORTHCOMING CHANGE: On 22 March 2021, the government published its response to the Law...
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Produced in partnership with Rebecca Walker of Lester Aldridge LLP 31st Jul
Practice notes

Charity insolvency—a guide to available insolvency procedures

Charity insolvency—a guide to available insolvency proceduresFORTHCOMING CHANGE: On 22 March 2021, the government published its response to the Law...
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Produced in partnership with Rebecca Walker of Lester Aldridge LLP 31st Jul
Practice notes

Charities and the Local Government Pension Scheme

Charities and the Local Government Pension SchemeThe charities sector in the UK is significant in size. There is a wide range of pension provision...
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Produced in partnership with Ruth Bamforth of Walker Morris 30th Jul
Practice notes

Insolvency in the Further and Higher Education Sector

Insolvency in the Further and Higher Education SectorThis Practice Note summarises the insolvency regime introduced by the Technical and Further...
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Produced in partnership with Neil Smyth of Mills & Reeve LLP 30th Jul

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Convention rights—structure of qualified rights

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Convention rights—structure of qualified rightsThe rights preserved under the European Convention on Human Rights (ECHR), as set out in the Human Rights Act 1998 Sch 1, can be broadly divided into three groups:•absolute rights—which cannot be interfered with by the state or derogated from even in a

Robbery

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Arms length management organisations (ALMOs)

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Derivative claim—what it is and when to use it

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