Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules 2016, SI 2016/1024—see:...
Appointment A receiver is one who is appointed to a corporation with power to receive income and other property and to pay necessary outgoings, but with no power to carry...
The Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) give insolvency office-holders in certain situations the power to...
Nature and background to block transfer orders In recent times, it has become much more common for insolvency practitioners (IPs) to move between firms than previously...
As a basic rule administrators enjoy a great deal of protection. Their agency status means they rarely incur personal liability, and the company over which they are...
Grounds to challenge an individual voluntary arrangement An application can be made to challenge the approval of an individual voluntary arrangement (IVA) on one or both...
Grounds to challenge the company voluntary arrangement An application can be made to challenge the approval of a company voluntary arrangement (CVA) on one or both of two...
This Practice Note provides a summary of consumer credit law following the transfer of regulatory oversight to the Financial Conduct Authority (FCA). In particular, the...
Under section 15 of the Bankruptcy Act 1914 (the predecessor to the Insolvency Act 1986 (IA 1986)), a public examination was required in every case where a debtor was...
The duty of insolvency office-holders to preserve information, and its relationship with the Civil Procedure Rules The rights and duties of insolvency office-holders in...
Brexit impact—cross-border insolvency (Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146) As of exit day (31 January 2020) the UK is no longer an EU Member...
Brexit impact—cross-border insolvency (Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146) As of exit day (31 January 2020) the UK is no longer an EU Member...
What is the IPA? The Insolvency Practitioners Association (IPA) is a recognised professional body (RPB) for the purposes of authorising (licensing) insolvency...
As part of the government’s ongoing drive to improve corporate transparency and tackle corruption, the UK became the first G20 country to establish a publicly accessible...
The official receiver (OR) deals with the administration and investigation of all personal and corporate insolvencies, including partnerships, arising through orders made...
All insolvency processes allow for the joint appointment of office-holders if required. Whether it is appropriate or not to have two office-holders will depend on the...
Contract Where a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be: • joint •...
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 procedural claims...
Why indemnities and security are required When an insolvency practitioner takes office they have a duty of care to creditors to act bona fide in their best interests....
Remuneration The Insolvency Act 1986 (IA 1986) and the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 provide for remuneration of office-holders in...
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...
This Practice Note focuses on the forced removal of an administrator from office, although other reasons for vacation of office by an administrator are touched upon...
Removal of a voluntary liquidator following the Insolvency (England and Wales) Rules 2016 (IR 2016) A voluntary liquidator can only be removed by an order of the court, a...
Remuneration and expenses of a Law of Property Act/fixed charge receiver The Law of Property Act 1925 (LPA 1925) enables a mortgagee of a legal mortgage to appoint an LPA...
The remuneration of the insolvency practitioner is governed by the Insolvency Act 1986, Statements of Insolvency Practice (SIP) 3.2 and 9 and the Insolvency (England and...
This Practice Note covers the roles, powers, duties and liabilities of court-appointed receivers who are appointed pursuant to the Proceeds of Crime Act 2002 or the Drug...