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Latest Restructuring & Insolvency News

When unlawful distributions and insolvency collide (SSF Realisations Ltd (In Liquidation) v Loch Fyne Oysters Ltd)

The following Corporate news provides comprehensive and up to date legal information on When unlawful distributions and insolvency collide (SSF Realisations Ltd (In Liquidation) v Loch Fyne Oysters Ltd)

Retained EU law—a guide for the perplexed

The following Banking & Finance news provides comprehensive and up to date legal information on Retained EU law—a guide for the perplexed

DeepOcean—Part 26A restructuring plans approved

The following Banking & Finance news provides comprehensive and up to date legal information on DeepOcean—Part 26A restructuring plans approved

Alert: Business and Property Courts—official start date

The following Construction news provides comprehensive and up to date legal information on Alert: Business and Property Courts—official start date

Featured Restructuring & Insolvency content

US ipso facto clauses

Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...

Winding-up and administration searches for companies at the Central Registry

STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...

Cashflow and balance sheet tests for insolvency

IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...

What is considered onerous property or contracts?

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...

Practice notes

Covenant waivers and resets

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...

9th Nov

Practice notes

Loan to value covenants

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...

Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan

Practice notes

Proprietary claims

Creditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather than personal...

9th Nov

Practice notes

Effect of a moratorium in a company voluntary arrangement (CVA) on creditors and the company [ARCHIVED]

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...

Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 12th Jan

Practice notes

Equitable accounting—how it works in practice

This Practice Note looks at equitable accounting, what it is, how and when it applies. It does not look at how the trustee in bankruptcy (trustee)...

9th Nov

Practice notes

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

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...

9th Nov

In-house

Practice notes

How to serve a demand for payment

A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...

Produced in partnership with James Hannant of Guildhall Chambers 12th Jan

Precedents

Certificate of urgency for applications in insolvency proceedings

Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...

9th Nov

Practice notes

Prohibited names under section 216 of the Insolvency Act 1986

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...

9th Nov

Practice notes

Key features of securitisation and asset based lending

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....

9th Nov

Practice notes

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

DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...

Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan

In-house

Practice notes

Misfeasance claims under section 212 of the Insolvency Act 1986

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...

9th Nov

In-house

Practice notes

A guide to independent business reviews

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...

Produced in partnership with Allan Kelly of RSM 12th Jan

Practice notes

Avoiding invalid floating charges under section 245 of the Insolvency Act 1986

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

9th Nov

Practice notes

Interim receivers

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

Produced in partnership with South Square and BDO LLP 12th Jan

Practice notes

Out-of-court administration appointments by a QFCH—the procedure

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

9th Nov

Most recent Key R&I law developments content

Practice notes

Corporate Insolvency and Governance Act 2020—temporary changes to corporate statutory demands and winding-up petitions

What is the background to the changes?The coronavirus (COVID-19) pandemic and the resulting lockdown and social distancing measures introduced by the...

15th Jan

COVID-19

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 5: Members’ voluntary winding-up [Archived]

This Practice Note has been archived and is not maintained.The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid before...

Produced in partnership with James Davies of New Square Chambers 15th Jan

Practice notes

Brexit—general issues and future relationship between the UK and EU [Archived]

Warning:This Practice Note is maintained only to cover the position in the immediate aftermath of the Brexit vote on 23 June 2016, and is for historic...

15th Jan

Brexit

Practice notes

Brexit SI tracker for R&I practitioners

This tracker is designed to assist R&I practitioners keep up-to-date with forthcoming legislation which will impact their particular areas of...

15th Jan

Brexit

Practice notes

2018: Key Restructuring & Insolvency cases [Archived]

This Practice Note has been archived and is not maintained.Name of parties and citation(s)Judgment dateSubject LexisPSL AnalysisSleight (as trustee of...

15th Jan

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 10: Bankruptcy [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid...

Produced in partnership with Ali Tabari of St Philips Chambers 15th Jan

Practice notes

2017: Key Restructuring & Insolvency cases [Archived]

This Practice Note has been archived and is not maintained.Name of parties and citation(s)Judgment dateSubject Lexis®PSL AnalysisPeter Valach and...

15th Jan

Practice notes

Schemes of arrangement—key cases

This Practice Note sets out certain key cases and associated relevant content in relation to schemes of arrangement. The cases are divided by topic...

15th Jan

Practice notes

The Temporary Insolvency Practice Direction Supporting the Insolvency Practice Direction (October 2020)

Background to the Temporary Insolvency Practice Direction Supporting the Insolvency Practice DirectionThe coronavirus (COVID-19) pandemic has led to...

15th Jan

COVID-19

Practice notes

2016: Key Restructuring & Insolvency cases [Archived]

This Practice Note has been archived and is not maintained.Name of parties and citation(s)Judgment dateSubject LexisPSL AnalysisHawk Recovery Ltd v...

15th Jan

Practice notes

2019: Key Restructuring & Insolvency cases [Archived]

This Practice Note has been archived and is not maintained.Name of parties and citation(s)Judgment dateSubjectLexis®PSL AnalysisRe Peak Hotels &...

15th Jan

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 11: Bankruptcy and debt relief restrictions orders and undertakings and the insolvency registers [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid...

Produced in partnership with Faith Julian of 9 Stone Buildings 15th Jan

Practice notes

A summary of the key changes in the Insolvency (England and Wales) Rules 2016 [Archived]

This Practice Note has been archived and is not maintained.IntroductionThe Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 were...

Produced in partnership with Sarah Clarke of Hardwicke Chambers 15th Jan

Practice notes

Restructuring and Insolvency annual round-up: reviewing 2017 and previewing 2018 [Archived]

This year’s annual round-up reviews some of the most significant developments of 2017 and previews what is on the horizon for 2018. This includes the...

15th Jan

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 4: Receivership [Archived]

This Practice Note has been archived and is not maintained.The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid before...

Produced in partnership with Emma Knight of Three Stone 15th Jan

Practice notes

Small Business, Enterprise and Employment Act 2015—office-holder actions and removal of requirement to seek sanction [Archived]

This Practice Note has been archived and is not maintained.The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) received Royal Assent...

15th Jan

Practice notes

Brexit—impact on bankruptcy

Status of the UKAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK...

15th Jan

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 18: Changes to reporting by and remuneration of office-holders [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 were laid...

Produced in partnership with Peter Shaw, QC of 9 Stone Buildings 15th Jan

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 12: Court procedure and practice [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid...

Produced in partnership with James Morgan QC and Marc Brown of St Philips Chambers, and Matthew Weaver of Radcliffe Chambers 15th Jan

Practice notes

The Insolvency (England and Wales) Rules 2016—Part 1: Interpretation [Archived]

This Practice Note has been archived and is not maintained.The IR 2016, SI 2016/1024 were laid before Parliament on 25 October 2016 and are in force...

Produced in partnership with Ali Tabari of St Philips Chambers 15th Jan