The office-holder

The office-holder guidance:

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:...

Precedents

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

What is the IPA? The Insolvency Practitioners Association (IPA) is a recognised professional body (RPB) for the purposes of authorising (licensing) insolvency...

Practice Note

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...

Practice Note

The official receiver (OR) deals with the administration and investigation of all personal and corporate insolvencies, including partnerships, arising through orders made...

Practice Note

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...

Practice Note

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 •...

Practice Note

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...

Practice Note

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....

Practice Note

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...

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

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note