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Corporate Insolvency and Governance Act 2020

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Latest Restructuring & Insolvency News

Questions around the proposed arbitration process for coronavirus rent arrears

Questions around the proposed arbitration process for coronavirus rent arrears

The following Property Disputes news provides comprehensive and up to date legal information on Questions around the proposed arbitration process for coronavirus rent arrears

South Square Digest—July 2021

South Square Digest—July 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on South Square Digest—July 2021

Restructuring & Insolvency weekly highlights—22 July 2021

Restructuring & Insolvency weekly highlights—22 July 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Restructuring & Insolvency weekly highlights—22 July 2021

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Hungary

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Hungary

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Hungary

Featured Restructuring & Insolvency content

What do insolvency searches at The Gazette reveal?

What do insolvency searches at The Gazette reveal?

What do insolvency searches at The Gazette reveal?What is The Gazette?The Gazette provides a permanent official public record of important statutory...

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary...

Debt for equity swaps

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in...

The Loan Market Association

The Loan Market Association

The Loan Market AssociationAims of the Loan Market AssociationThe Loan Market Association (LMA) was established in 1996 as a trade body with a key...

Practice notes

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeStatutory declaration of solvencyA company...
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Produced in partnership with Robert Smailes of Leonard Curtis Business Solutions Group & Simon Hunter of Three Stone 19th May
Practice notes

Insolvency searches for companies at the Central Registry

Insolvency searches for companies at the Central RegistryWhat is the Central Registry of Winding-up Petitions?The Central Registry of Winding-up...
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Produced in partnership with Stephen Allinson 19th May
Practice notes

Recapitalisations

RecapitalisationsThe term 'recapitalisation' refers to a company changing the proportions of its debt and equity, something which can be achieved in a...
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Produced in partnership with Alice Morgan of Sidley Austin LLP 19th May
Practice notes

Key elements of a standstill agreement

Key elements of a standstill agreementWhen restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of...
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19th May
Q&As

A mortgagee in possession has sold a property at auction. The mortgagee's charge is dated 20 February 2008. There is an equitable charge created by an interim charging order in favour of a second lender, registered on the 25th October 2010. Will the sale by the mortgagee in possession overreach the subsequent equitable charge and if so, will the equitable charge simply fall away or should the purchaser take any further steps to remove it from the register?

A mortgagee in possession has sold a property at auction. The mortgagee's charge is dated 20 February 2008. There is an equitable charge created by an...
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19th May
Practice notes

Role, powers, functions and duties of a trustee in bankruptcy

Role, powers, functions and duties of a trustee in bankruptcyThis Practice Note looks at the roles, powers, functions and duties of the trustee in...
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19th May
Practice notes

Joint office-holder appointments

Joint office-holder appointmentsAll insolvency processes allow for the joint appointment of office-holders if required. Whether it is appropriate or...
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19th May
Practice notes

Marshalling debt

Marshalling debtWhat is marshalling?Marshalling is where two or more creditors are owed money by the same debtor, and one creditor has more than one...
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Produced in partnership with Karen Jacobs of Dentons 19th May
Practice notes

Cashflow and balance sheet tests for insolvency

Cashflow and balance sheet tests for insolvencyIntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and...
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Produced in partnership with South Square Chambers 19th May
Practice notes

Effect on proceedings against a company being wound up and after a winding-up order is made

Effect on proceedings against a company being wound up and after a winding-up order is madeCoronavirus (COVID-19)This content contains guidance on...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 19th May
Q&As

Can a claim be made against a company for trading whilst insolvent? If the company is conducting litigation, does this constitute ‘trading’? If so, can a director be held personally liable?

Can a claim be made against a company for trading whilst insolvent? If the company is conducting litigation, does this constitute ‘trading’? If so,...
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19th May
Practice notes

Equitable charges v legal charges—impact on saleability

Equitable charges v legal charges—impact on saleabilityThis Practice Note considers the position of a security holder who has an equitable mortgage or...
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Produced in partnership with Jonathan Titmuss of Hardwicke 19th May
Practice notes

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

Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986It is possible for a claim to be brought under section 423 of the...
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19th May
tag iconIn-house
Practice notes

Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016

Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016IntroductionSet-off refers to claims that may be set-off against...
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Produced in partnership with South Square Chambers and BDO 19th May
tag iconIn-house
Practice notes

What is a statutory demand?

What is a statutory demand?This Practice Note looks at what a statutory demand is and what it seeks to achieve in both corporate and personal...
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19th May
Practice notes

A guide to independent business reviews

A guide to independent business reviewsThis Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around...
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Produced in partnership with Allan Kelly of RSM 19th May

Most recent Corporate Insolvency and Governance Act 2020 content

Practice notes

Reform of UK insolvency laws

Reform of UK insolvency lawsBackgroundThe coronavirus (COVID-19) crisis has had a significant impact on businesses around the world, putting many at...
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21st Jul
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Practice notes

Corporate Insolvency and Governance Act 2020 moratorium and restrictions on ipso facto clauses—financial services exemptions map

Corporate Insolvency and Governance Act 2020 moratorium and restrictions on ipso facto clauses—financial services exemptions mapThis Practice Note...
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13th Jul
Practice notes

Corporate Insolvency and Governance Act 2020—frequently asked questions (FAQs) on the restructuring plan

Corporate Insolvency and Governance Act 2020—frequently asked questions (FAQs) on the restructuring planThe Corporate Insolvency and Governance Act...
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12th Jul
Practice notes

Corporate Insolvency and Governance Act 2020—restructuring plan provisions

Corporate Insolvency and Governance Act 2020—restructuring plan provisionsSpurred on by the coronavirus (COVID-19) pandemic, the government pushed...
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12th Jul
tag iconCOVID-19
Practice notes

The Corporate Insolvency and Governance Act 2020, the increase in the prescribed part and reintroduction of Crown preference—key issues and discussion points for lenders

The Corporate Insolvency and Governance Act 2020, the increase in the prescribed part and reintroduction of Crown preference—key issues and discussion...
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8th Jul
tag iconCOVID-19
Practice notes

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

Corporate Insolvency and Governance Act 2020—temporary changes to corporate statutory demands and winding-up petitionsWhat is the background to the...
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8th Jul
tag iconCOVID-19
Practice notes

Corporate Insolvency and Governance Act 2020—restrictions on ipso facto clauses

Corporate Insolvency and Governance Act 2020—restrictions on ipso facto clausesBackground to the Corporate Insolvency and Governance Act 2020 (CIGA...
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8th Jul
tag iconCOVID-19
Practice notes

Corporate Insolvency and Governance Act 2020—temporary changes to the wrongful trading regime [Archived]

Corporate Insolvency and Governance Act 2020—temporary changes to the wrongful trading regime [Archived]What is the background to the temporary...
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2nd Jul
tag iconCOVID-19
Practice notes

Corporate Insolvency and Governance Act 2020 and other developments in insolvency and restructuring—implications for construction contracts

Corporate Insolvency and Governance Act 2020 and other developments in insolvency and restructuring—implications for construction contractsThe...
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1st Jul
Q&As

What considerations should practitioners be taking into account when deciding whether or not the provisions on ipso facto clauses introduced by the Corporate Insolvency and Governance Act 2020 apply to IP licences? Would the considerations be different as between (a) a pure IP licence, and (b) a commercial agreement containing an element of IP licensing (eg a franchise agreement or a sponsorship agreement)?

What considerations should practitioners be taking into account when deciding whether or not the provisions on ipso facto clauses introduced by the...
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Produced in partnership with Caroline Clark 5th Jun
tag iconCOVID-19
Q&As

Do the 'ipso facto' provisions of the Corporate Insolvency and Governance Act 2020 apply to a lease, ie is a landlord a supplier of goods or services for the purposes of the Act?

Do the 'ipso facto' provisions of the Corporate Insolvency and Governance Act 2020 apply to a lease, ie is a landlord a supplier of goods or services...
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5th Jun
tag iconCOVID-19
Q&As

Can a creditor currently present a winding up petition based on an unsatisfied statutory demand in the light of Schedule 10 to the Corporate Insolvency and Governance Act 2020? If a statutory demand can be served, can the alleged debtor seek an injunction?

Can a creditor currently present a winding up petition based on an unsatisfied statutory demand in the light of Schedule 10 to the Corporate...
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5th Jun
Q&As

Is it possible for a supplier and a customer to agree that if the customer gets into financial difficulties, the supplier would be classed as a ‘secured’ or ‘preferential’ creditor in the context of a straightforward supply of goods and/or services? If so, what would be the simplest way to achieve this?

Is it possible for a supplier and a customer to agree that if the customer gets into financial difficulties, the supplier would be classed as a...
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5th Jun
Q&As

How does the restriction on ipso facto clauses under new section 233B, Insolvency Act 1986 affect a supplier’s contractual rights to repossession under a retention of title clause which might otherwise be triggered upon a customer insolvency event?

How does the restriction on ipso facto clauses under new section 233B, Insolvency Act 1986 affect a supplier’s contractual rights to repossession...
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Produced in partnership with Deanne Hamilton of Harrison Clark Rickerbys Limited 5th Jun
Q&As

What is the impact of section 233B of the Insolvency Act 1986 on a supplier or customer based in the UK where the supply contract is not governed by English law?

What is the impact of section 233B of the Insolvency Act 1986 on a supplier or customer based in the UK where the supply contract is not governed by...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 5th Jun
Q&As

Does section A21 of the Insolvency Act 1986, which places restrictions on the legal and enforcement proceedings that may be commenced against a company subject to the new ‘moratorium’, prevent a party to a construction contract commencing or enforcing adjudication against a counterparty that is subject to the moratorium?

Does section A21 of the Insolvency Act 1986, which places restrictions on the legal and enforcement proceedings that may be commenced against a...
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5th Jun
Practice notes

Corporate Insolvency and Governance Act 2020—moratorium

Corporate Insolvency and Governance Act 2020—moratoriumThe Corporate Insolvency and Governance Act (CIGA 2020) inserted Part A1 into the Insolvency...
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5th Jun
tag iconCOVID-19
Q&As

Does new section 233B of the Insolvency Act 1986 affect contracts for the supply of goods and services under which the supplier and/or the customer are based outside of the UK?

Does new section 233B of the Insolvency Act 1986 affect contracts for the supply of goods and services under which the supplier and/or the customer...
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Produced in partnership with Oberon Kwok of Selborne Chambers and Chris Bryden of 4 King’s Bench Walk 5th Jun
tag iconCOVID-19
Practice notes

Corporate Insolvency and Governance Act 2020—moratorium forms

Corporate Insolvency and Governance Act 2020—moratorium formsScopeThe Corporate Insolvency and Governance Act (CIGA 2020) inserts a new Part A1 into...
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5th Jun
Practice notes

Corporate Insolvency and Governance Bill—progress tracker [Archived]

Corporate Insolvency and Governance Bill—progress tracker [Archived]ARCHIVED: This archived Practice Note describes the passage of the Corporate...
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5th Jun
tag iconCOVID-19

Popular documents

Report on title—long form

Report on title—long form

Property: [insert name and/or address of the Property] (‘Property’)Purchaser: [insert name, address and (if applicable) company registration number of buyer]Transaction: [insert brief details]1Executive summary1.1Scope of reportThis report is addressed to you [insert buyer’s name] and has been

What is a public authority?

What is a public authority?

What is a public authority?There is no single, universal answer to the question whether a particular organisation is treated, in law, as a public authority.Rather, on one hand the courts have developed case law on which bodies are subject to administrative law through the judicial review procedure;

Contract interpretation—express terms in contracts

Contract interpretation—express terms in contracts

Contract interpretation—express terms in contractsExpress and implied contractual terms distinguishedContractual terms may be either express or implied:•express terms—are terms which are actually recorded in a written contract or openly expressed in an oral contract at the time the contract is made

Stay of proceedings—when can you apply to stay a claim?

Stay of proceedings—when can you apply to stay a claim?

Stay of proceedings—when can you apply to stay a claim?This Practice Note considers the question of when court proceedings can be stayed. It identifies scenarios in which a party may apply for a stay of proceedings, including to allow for: a jurisdictional challenge; arbitration; an attempt to