This note aims to: • provide practical guidance to creditors owed money by a distressed/insolvent company • explain the position of creditors in most types of corporate...
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...
APPLICATION NOTICE Form IAA Rule 1.35 of the Insolvency (England and Wales) Rules 2016 Court Reference No. [insert number] [IN THE HIGH COURT OF JUSTICE BUSINESS AND...
Correct jurisdiction and parties The Court's jurisdiction CDDA 1986, s 17(1) states: 'Where a person is subject to a disqualification order made by a court having...
THIS PRACTICE NOTE APPLIES TO MULTI-EMPLOYER DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMES Apportionment arrangements provide exiting employers of underfunded defined...
DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Notes:...
This Agreement is made on [insert day and month] 20[insert year] Parties 1 [Insert name of company in administration/liquidation] (in [administration OR liquidation]) a...
The Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) give insolvency office-holders in certain situations the power to...
As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the transitional arrangements provided in Part 4 of the October 2019...
At 11pm UK time on 31 January 2020 (exit day), the United Kingdom left the European Union in accordance with a ratified Withdrawal Agreement between the UK and the EU....
Buying the business and/or assets of a company from an insolvency practitioner (insolvent sale) is quite different from buying the business and/or assets of a company...
The charities sector in the UK is significant in size. There is a wide range of pension provision across the sector. Many charities are facing financial pressures as a...
In the initial stages of distress, the lending group or creditors' committee may request that an independent chief restructuring officer (CRO) is appointed within the...
In any insolvency situation, there are a number of parties involved that require legal advice and, in certain circumstances, parties with common interests may choose to...
Brexit: As of exit day (11pm on 31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
FORTHCOMING DEVELOPMENT: On 11 February 2019 the DWP published its response to the consultation ‘Protecting Defined Benefit Pension Schemes—A Stronger Pensions Regulator’...
ARCHIVED: This archived Practice Note provides information on the data protection regime before 25 May 2018 and reflects the position under the Data Protection Act 1998...
Brexit: On 31 January 2020, the UK ceased to be an EU Member State and entered an implementation period, during which it continues to be subject to EU law. During this...
Although suppliers are generally unsecured creditors (unless they establish a valid retention of title (ROT) claim) they may be key to a successful turnaround or pre-pack...
Dated the [insert day and month] 20[insert year] Parties 1 [name of Lender] a company incorporated in [England and Wales] under number [insert company number] whose...
Date [insert date of surrender] Parties 1 [insert name of Landlord] [of [insert address] OR incorporated in England and Wales with company registration number [insert...
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...
Duties of a director The purpose of this Practice Note is to: • set out what additional duties arise for directors when the company is insolvent (or is verging on...
Directors are the agents of a company who manage its day-to-day business and owe a number of duties to it. The Companies Act 2006 (CA 2006) codified for the first time...
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 •...
