Navigate the key responsibilities and powers imparted to administrators, liquidators, and trustees. This topic provides a detailed practical framework essential for guiding office-holders through their legal duties and strategic decision-making processes in restructuring and insolvency cases.
Role, powers, functions and duties of a liquidatorThe role and function of a liquidatorA liquidator is the officer appointed when a company goes into...
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeCoronavirus (COVID-19)This content is affected...
Bonds and notesThe terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be...
Obtaining Official Copies from HM Land RegistryThis Practice Note provides guidance in obtaining official copies of the entries on the title of a...
Removal of voluntary liquidator by creditors' decision procedureA voluntary liquidator can only be removed by an order of the court or:•in the case of a members’ voluntary winding up (MVL), by a general meeting of the company summoned specially for that purpose, or•in the case of a creditors’
Role, powers, functions and duties of an administratorThe role, functions, powers and duties of an administrator are set out in the Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. While the Enterprise Act 2002 (EnA 2002) significantly amended the
What are the grounds and procedure for removing a trustee in bankruptcy (trustee) from office? And if a trustee is removed from office, where do their fees and expenses stand in the order of priority?Removal of a trusteeThe trustee of a bankrupt's estate may be removed from office by an order of the
Role, powers, functions and duties of a liquidatorThe role and functions of a liquidatorA liquidator must be a licensed insolvency practitioner and authorised by a recognised professional body or the Secretary of State.In basic terms, a liquidator’s function is to secure the assets of the company
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