Pre-packs

Pre-packs guidance:

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...

Precedents

DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Notes:...

Precedents

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...

Precedents

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...

Practice Note

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...

Precedents

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...

Precedents

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...

Practice Note

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....

Practice Note

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 those...

Practice Note

To be typed on [Name of company in administration] (in administration) Headed paper To: [Insert name(s) and address and company number (if relevant) of entity who you are...

Precedents

A pre-pack is an arrangement under which the sale of all or part of a company’s business and assets is negotiated with a purchaser prior to the appointment of an...

Practice Note

The purpose of section 216 of the Insolvency Act 1986 Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from causing a...

Practice Note

What is a rescue buyout? A company or a business in a rescue situation is one that is in potential financial difficulties, either because it finds itself: • unable to pay...

Practice Note

Brexit impact As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

Insolvency and restructuring professionals have grown up in an environment where they have generally confined communication (both internal and external) to what is...

Practice Note

Statement of Insolvency Practice (SIP) 16—background and key amendments The independent Graham Report on pre-pack administrations was published in June 2014, and while...

Practice Note

Liquidation The order of distribution in liquidation, following the realisation of security by secured creditors (other than those with floating charges) for their...

Practice Note

A pre-pack administration—some basic principles A pre-pack is a sale of a company's business or assets, or both, which has been arranged in advance of a company entering...

Practice Note