Senior creditors will ensure that in addition to having higher security rights over junior creditors, juniors are also subordinated to them.Generally...
Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...
IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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...
This Practice Note covers receivers who are appointed by the court, including the circumstances in which a court will appoint a receiver and who may...
BrexitBREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note....
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
CORONAVIRUS (COVID-19) UPDATE: As a result of coronavirus, the PPF decided to make certain changes to its policies. For instance, the PPF will accept...
This Practice Note considers the effect of a company’s insolvency on an occupational pension scheme in respect of which the company is the sponsoring...
THIS PRACTICE NOTE ONLY APPLIES TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESThe Pensions Regulator's moral hazard powersThe Pensions Act 2004 (PeA...
The Pensions Regulator (the Regulator) is a non-departmental government body created by the Pensions Act 2004 (PeA 2004).The power of the Regulator to...
Double proof in the administrationAdministrators may make distributions to creditors of a company in administration either to: preferential creditors,...
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