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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

Debt for equity swaps

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in...

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...

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

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

US bankruptcy financing—debtor-in-possession (DIP) financingDIP financing generallyDebtor-in-possession financing (DIP financing) is new,...

Practice notes

What is a pre-pack administration sale?

What is a pre-pack administration sale?Stop pressOn 8 October 2020, the Insolvency Service published the outcome of its review conducted into the...
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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...
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19th May
Practice notes

Joint office-holder appointments

Joint office-holder appointmentsAll insolvency processes allow for the joint appointment of office-holders if required. Whether it is appropriate or...
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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...
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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...
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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

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
Practice notes

Effect on proceedings against a company being wound up and after a winding-up order is made

Effect on proceedings against a company being wound up and after a winding-up order is madeCoronavirus (COVID-19)This content contains guidance on...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 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...
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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...
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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

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

Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986It is possible for a claim to be brought under section 423 of the...
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19th May
tag iconIn-house
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

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...
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Produced in partnership with Allan Kelly of RSM 19th May

Most recent Disclaimer content

Q&As

Can voluntary liquidation be used, so long as a company is solvent, to bring a lease liability to an end by disclaimer, without the landlord having any recourse for its lost income? By way of example, could a commercial tenant (say, a retailer) with ten years left of its lease to run, deciding that it wants to close that shop, simply go into voluntary liquidation to pay off its current debts and leave the landlord, who thought he had a tenant's rental income stream for the next ten years, with an empty unit?

Can voluntary liquidation be used, so long as a company is solvent, to bring a lease liability to an end by disclaimer, without the landlord having...
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1st Aug
Q&As

If a liquidator disclaims a lease and does not give vacant possession (eg property and rubbish left at property), can the landlord claim the cost to clear these items from the insolvency practitioner as an insolvency debt?

If a liquidator disclaims a lease and does not give vacant possession (eg property and rubbish left at property), can the landlord claim the cost to...
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1st Aug
Q&As

Company which gave an authorised guarantee agreement (AGA) goes into voluntary, solvent liquidation, but assignee is solvent so no liability has crystallised under the AGA. Can the liquidator disclaim the AGA? Does the landlord have any remedies if the AGA does not have a requirement to replace the guarantor if the guarantor goes insolvent?

Company which gave an authorised guarantee agreement (AGA) goes into voluntary, solvent liquidation, but assignee is solvent so no liability has...
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1st Aug
Q&As

A tenant company of commercial premises is in liquidation. The landlord served a notice to elect on the liquidators, requiring them to confirm whether they want to disclaim the lease. The liquidators inadvertently allowed the notice to lapse, meaning they can no longer disclaim. The liquidators do, however, now want to agree a surrender. What are the implications of the lease not having been disclaimed? Can the landlord only prove for the rent after it falls due each quarter until the company is dissolved or can the landlord agree a surrender and ask for a premium to reflect what it could have claimed had the lease been disclaimed?

A tenant company of commercial premises is in liquidation. The landlord served a notice to elect on the liquidators, requiring them to confirm whether...
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31st Jul
Q&As

Where a notice of disclaimer is received from the official receiver (acting as trustee in bankruptcy) by a landlord more than seven business days after it is dated, will the notice still have effect?

Where a notice of disclaimer is received from the official receiver (acting as trustee in bankruptcy) by a landlord more than seven business days...
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31st Jul
Q&As

What happens where a trustee in bankruptcy disclaims his beneficial interest in a jointly-owned property, and is the position different where the joint owner is a company? Does the property automatically revert to the joint owner and, if not, who does the joint owner have to deal with they wish to acquire that interest or try and discharge any mortgage secured against the property’s title?

What happens where a trustee in bankruptcy disclaims his beneficial interest in a jointly-owned property, and is the position different where the...
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31st Jul
Q&As

If a secure tenant of a local housing authority becomes bankrupt, does their tenancy form part of the bankruptcy estate? Does the position alter if the tenancy has been demoted?

If a secure tenant of a local housing authority becomes bankrupt, does their tenancy form part of the bankruptcy estate? Does the position alter if...
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31st Jul
Practice notes

Escheat, bona vacantia and disclaimer by the Crown

Escheat, bona vacantia and disclaimer by the CrownEscheatParamount lordship of the CrownThe principle which underlies the doctrine of escheat is a...
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31st Jul
Practice notes

Liquidators disclaiming contracts containing overage

Liquidators disclaiming contracts containing overageThis Practice Note considers the disclaimer by liquidators of contracts (often a sale agreement or...
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Produced in partnership with Carolyn Jones 30th Jul
Practice notes

What is considered onerous property or contracts?

What is considered onerous property or contracts?DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee...
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30th Jul
Practice notes

The effect of disclaimer by a liquidator or trustee in bankruptcy on property and third parties

The effect of disclaimer by a liquidator or trustee in bankruptcy on property and third partiesDisclaimer under the Insolvency Act 1986 (IA 1986) by...
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Produced in partnership with Robert Hantusch of Three Stone 30th Jul
Practice notes

What happens to a lease when the tenant's liquidator disclaims?

What happens to a lease when the tenant's liquidator disclaims?This Practice Note covers what happens to a lease on disclaimer and the effect of...
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30th Jul
Practice notes

The process of disclaimer by a liquidator or trustee in bankruptcy under sections 178 or 315 of the Insolvency Act 1986

The process of disclaimer by a liquidator or trustee in bankruptcy under sections 178 or 315 of the Insolvency Act 1986This Practice Note covers the...
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Produced in partnership with Robert Hantusch of Three Stone 30th Jul

Popular documents

Sale of treasury shares

Sale of treasury shares

Sale of treasury sharesA limited company may hold, or deal with, shares in itself, if certain conditions set out in the Companies Act 2006 (CA 2006) are met. Those shares are held in treasury and referred to as the company's treasury shares.The treasury shares regime is set out in CA 2006, ss

Interim injunctions—the American Cyanamid guidelines

Interim injunctions—the American Cyanamid guidelines

Interim injunctions—the American Cyanamid guidelinesThis Practice Note is concerned with substantive interim injunctions, which are a particular species of injunction granted on a temporary basis ahead of trial. As set out below, there are different considerations depending on whether the interim

False imprisonment

False imprisonment

False imprisonmentLiabilityFalse imprisonment consists of the complete deprivation of liberty without a lawful basis. Claims will in practice be made against a public body that exercises detention powers, usually a local police force, the Secretary of State for the Home Department or the Secretary

Qualified one-way costs shifting (QOCS)

Qualified one-way costs shifting (QOCS)

Qualified one-way costs shifting (QOCS)What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE)