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Featured Restructuring & Insolvency content

Practice notes
Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...
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Produced in partnership with Julie Lanz of Skadden Arps Slate Meagher & Flom LLP 9th Nov
Practice notes
STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...
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Produced in partnership with Stephen Allinson 9th Nov
Practice notes
IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...
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Produced in partnership with South Square 9th Nov
Practice notes
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...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
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...
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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 9th Nov
Practice notes
Creditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather than personal...
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9th Nov
Practice notes
The Court of Appeal has made it clear in JCAM that a moratorium cannot be obtained through the back door by filing a notice of intention to appoint an...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Nov
Practice notes
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 9th Nov
Precedents
Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...
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9th Nov
Practice notes
The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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9th Nov
Practice notes
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...
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Produced in partnership with South Square and BDO LLP 9th Nov
Practice notes
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Julie Lanz of Skadden Arps Slate Meagher & Flom LLP 9th Nov
Practice notes
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...
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9th Nov
Practice notes
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...
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Produced in partnership with Allan Kelly of RSM 9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov

Most recent Directors' and members' issues content

Practice notes
Directors of companies which become, or are likely to become, insolvent face additional considerations and are under a duty to minimise losses to the...
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1st Dec
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic and the Corporate Insolvency and Governance Bill. For further...
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29th Nov
Practice notes
Commencement of disqualification order and undertakingSection 1(1) of the Company Directors Disqualification Act 1986 (CDDA 1986) provides that a...
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29th Nov
Practice notes
The purpose of this Practice Note is to:•describe section 216 of the Insolvency Act 1986 (IA 1986)•discuss the exceptions to that section•discuss how...
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29th Nov
Practice notes
In the initial stages of distress, the lending group or creditors' committee may request that an independent chief restructuring officer (CRO) is...
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29th Nov
Practice notes
The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
Read More >
29th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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29th Nov
Practice notes
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...
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29th Nov
Practice notes
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...
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29th Nov
Practice notes
Setting aside a transaction on the basis that it was an extortionate credit transaction under the Insolvency Act 1986 (IA 1986) is difficult. A...
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29th Nov
Practice notes
Section 6 of the Company Directors Disqualification Act 1986Section 6 of the Company Directors Disqualification Act 1986 (CDDA 1986) provides...
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29th Nov
Practice notes
There are various ways in which a director can be disqualified from acting as a director of a limited liability company. The most common of these is...
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29th Nov
Practice notes
The Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) give insolvency office-holders in certain...
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29th Nov
Practice notes
In any insolvency situation, there are a number of parties involved that require legal advice and, in certain circumstances, parties with common...
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29th Nov
Practice notes
A situation frequently arises where payments are made on account of dividends during a financial year, with the intention of declaring a dividend at...
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29th Nov
Practice notes
A fraudulent trading claim arises under two separate statutory routes. First, fraudulent trading is a criminal offence under section 993 of the...
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29th Nov
Practice notes
CORONAVIRUS (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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29th Nov
Q&As
Where a company enters into one of the applicable insolvency processes (being, under section 234(1) of the Insolvency Act 1986 (IA 1986),...
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29th Nov

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