General duty of liquidators and administrators where there has been an unlawful transaction If, during the course of a liquidator's or administrator's investigations into...
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules 2016, SI 2016/1024—see:...
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules 2016, SI 2016/1024—see:...
Produced in partnership with Christopher Brockman of Enterprise Chambers Note: This Precedent should be used in conjunction with an application notice template that...
Produced in partnership with Christopher Brockman of Enterprise Chambers Note: This Precedent should be used in conjunction with an application notice template that...
Produced in partnership with Christopher Brockman of Enterprise Chambers Note: This Precedent should be used in conjunction with an application notice template that...
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules 2016, SI 2016/1024—see:...
This Practice Note explains when a general assignment of book debts by a bankrupt prior to their bankruptcy is invalid. See also Practice Note: Unenforceability of liens...
. Avoiding floating charges—the conditions required Under section 245 of the Insolvency Act 1986 (IA 1986), there are provisions for liquidators and administrators to set...
Introduction This Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the Insolvency Act 1986...
DBA regulations 2013 The Damages-Based Agreement Regulations, SI 2013/609 (DBA Regulations 2013) prescribe the requirements of a damages-based agreement (DBA) which must...
Directors of companies which become, or are likely to become, insolvent are under a duty to maximise the return to the company’s creditors. The relevant statutory...
Directors of companies which become, or are likely to become, insolvent face additional considerations and are under a duty to minimise losses to the company’s creditors....
When pension contributions are recoverable This practice note addresses two questions: • whether a bankrupt’s pension arrangement falls within the bankruptcy estate and •...
Setting aside a transaction on the basis that it was an extortionate credit transaction under the Insolvency Act 1986 (IA 1986) is difficult. A bargain may be hard or...
A fraudulent trading claim arises under two separate statutory routes. First, fraudulent trading is a criminal offence under section 993 of the Companies Act 2006 (CA...
Background There are circumstances where an IP may require an injunction against a person or entity to either stop them from doing something, or require them to do...
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 procedural claims...
Introduction Prior to September 2008, numerous small and medium-sized enterprises (SMEs) entered into interest rate hedging products (IRHPs) to support borrowing with...
A situation frequently arises where payments are made on account of dividends during a financial year, with the intention of declaring a dividend at year end. If the...
The protection of estate assets Where a company or an individual enters into a formal insolvency process, the insolvency office-holder has a duty to collect in and...
For any insolvency process to operate effectively, it is essential the person appointed to wind-up the insolvent estate has powers that enable them to scrutinise dealings...
This Practice Note has been archived and is not maintained. The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) received Royal Assent on 26 March 2015 and...
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 transaction at an undervalue...
General duties of the trustee in bankruptcy The main function and duty of a trustee in bankruptcy (trustee) is to get in, realise and distribute the bankrupt's estate in...
This Practice Note sets out certain key cases and associated relevant content relating to the validity of security. The cases are divided by topic area and include: •...
Unlawful payments—general position When a company enters into liquidation or administration, certain transactions entered into by the company prior to the opening of the...
The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) received Royal Assent on 26 March 2015 and introduced a number of changes that affect insolvency...
Applicant: [insert initials and surname]: 1st: (exhibits).1–4: [insert date] 20[insert year] Court Reference No: [INSERT COURT REF. NUMBER] [IN THE HIGH COURT OF JUSTICE...
Applicant: [insert initials and surname]: 1st: (exhibits).1–4: [insert date] 20[insert year] Court Reference No: [INSERT COURT REF. NUMBER] [IN THE HIGH COURT OF JUSTICE...