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Practice notes
STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...
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Produced in partnership with Stephen Allinson 12th Jan
Practice notes
IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...
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Produced in partnership with South Square 12th Jan
Practice notes
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...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
Practice notes
Creditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather than personal...
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9th Nov
Practice notes
This Practice Note covers receivers who are appointed by the court, including the circumstances in which a court will appoint a receiver and who may...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 12th Jan
Practice notes
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 12th Jan
Practice notes
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...
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9th Nov
Practice notes
IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...
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Produced in partnership with South Square and BDO LLP 12th Jan
Practice notes
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....
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9th Nov
Practice notes
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
Practice notes
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...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov

Most recent The office-holder content

Practice notes
Stop pressOn 8 October 2020, the Insolvency Service published the outcome of its review conducted into the impact of the voluntary industry measures...
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12th Apr
Practice notes
The role, powers and duties of an appointed administrator are set out in the Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules...
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12th Apr
Practice notes
What are Statements of Insolvency Practice?Insolvency practitioners (IPs) are required to comply with both legislation and Statements of Insolvency...
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12th Apr
Practice notes
The power to seek directions from the courtOffice-holders in insolvency proceedings have statutory powers to seek directions from the court in...
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9th Apr
Practice notes
The duty of insolvency office-holders to preserve information, and its relationship with the Civil Procedure RulesThe rights and duties of insolvency...
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Produced in partnership with Robert Hantusch of Three Stone 9th Apr
Practice notes
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...
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Produced in partnership with Paul Sidle of Linklaters, Richard Bussell of Linklaters and Rebecca Jarvis of Linklaters 9th Apr
Practice notes
Information about the company’s affairsIn order to protect, realise and distribute a company’s estate, the liquidator, provisional liquidator,...
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Produced in partnership with Roger Laville of Five Paper 9th Apr
Practice notes
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...
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Produced in partnership with Peter Shaw, QC of 9 Stone Buildings 9th Apr
Practice notes
Information about the bankrupt’s affairsIn order to realise and distribute the bankruptcy estate, the trustee in bankruptcy (trustee) must obtain...
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Produced in partnership with Roger Laville of Five Paper 9th Apr
Practice notes
Powers—generalThe statutory powers conferred on an LPA/fixed charge receiver are very limited and so for a receiver to exercise the duties which his...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
The official receiver (OR) deals with the administration and investigation of all bankruptcies and compulsory liquidations, including partnerships (ie...
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Produced in partnership with Christopher Buckley of Radcliffe Chambers 9th Apr
Practice notes
This Practice Note focuses on the forced removal of an administrator from office, although other reasons for vacation of office by an administrator...
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9th Apr
Practice notes
As a basic rule administrators enjoy a great deal of protection. Their agency status means they rarely incur personal liability, and the company over...
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9th Apr
Practice notes
This Practice Note covers the roles, powers, duties and liabilities of court-appointed receivers who are appointed pursuant to the Proceeds of Crime...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Remuneration and expenses of a Law of Property Act/fixed charge receiverThe Law of Property Act 1925 (LPA 1925) enables a mortgagee of a legal...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Administration of the schemeThe scheme document will need to specify how the scheme of arrangement (scheme) will be administered and by whom. In...
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Produced in partnership with Chris Mallon of Skadden 9th Apr
Practice notes
What is an administrative receiver?The Insolvency Act 1986 (IA 1986) sets out what an administrative receiver is as follows:•a receiver or manager of...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Who is the supervisor and what is the supervisor’s role in a company voluntary arrangement (CVA)?The supervisor is a key individual in a CVA. For...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 9th Apr
Practice notes
This Practice Note provides a summary of consumer credit law following the transfer of regulatory oversight to the Financial Conduct Authority (FCA)....
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Produced in partnership with Russell Kelsall of TLT LLP and Caroline Castle of Pinsent Masons 9th Apr
Practice notes
This Practice Note looks at the roles, powers, functions and duties of the trustee in bankruptcy (trustee). This Practice Note is drafted from the...
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9th Apr

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