Roles, powers, duties and functions of an insolvency office-holder

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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 30th Oct
Practice notes
The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) provide for a revised scheme for decision making in insolvency from 6 April...
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Produced in partnership with Richard Bowles 23rd Oct
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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22nd Oct
Practice notes
A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...
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15th Oct
Practice notes
It is possible for a claim to be brought under section 423 of the Insolvency Act 1986 (IA 1986) against a company or individual following a...
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15th Oct
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 Oct
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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5th Oct
Practice notes
The Court of Appeal has made it clear in JCAM that a moratorium cannot be obtained through the back door by filing a notice of intention to appoint an...
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27th Sep
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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26th Sep
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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26th Sep
Practice notes
Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...
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25th Sep
Practice notes
This Practice Note looks at:•the key features of loan to value (LTV) covenants•possible issues with calling an event of default based on a LTV...
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25th Sep
Practice notes
This Practice Note looks at equitable accounting, what it is, how and when it applies. It does not look at how the trustee in bankruptcy (trustee)...
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25th Sep
Practice notes
Senior creditors will ensure that in addition to having higher security rights over junior creditors, juniors are also subordinated to them.Generally...
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25th Sep
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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25th Sep
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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25th Sep

Most recent Roles, powers, duties and functions of an insolvency office-holder content

Practice notes
AppointmentA receiver is one who is appointed to a corporation with power to receive income and other property and to pay necessary outgoings, but...
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25th Sep
Practice notes
ContractWhere 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...
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25th Sep
Practice notes
Brexit impactAs 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...
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25th Sep
Practice notes
Who is the nominee/supervisor and what is their role in the individual voluntary arrangement?The nominee and the supervisor are key individuals in an...
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25th Sep
Practice notes
All insolvency processes allow for the joint appointment of office-holders if required. Whether it is appropriate or not to have two office-holders...
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25th Sep
Practice notes
This Practice Note has been archived and is not maintained.Note that on 6 April 2017 the Insolvency (England and Wales) Rules 2016 (IR 2016), SI...
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26th Sep
Practice notes
This Practice Note has been archived and is not maintained.The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) received Royal Assent...
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26th Sep
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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26th Sep
Practice notes
This Practice Note has been archived and is not maintained.The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) received Royal Assent...
Read More >
26th Sep
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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26th Sep
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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27th Sep
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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27th Sep
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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27th Sep
Practice notes
What is the IPA?The Insolvency Practitioners Association (IPA) is a recognised professional body (RPB) for the purposes of authorising (licensing)...
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27th Sep
Q&As
The general position is that a liquidator acts as an agent on behalf of the company and does not stand in the shoes of the company and the company...
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Produced in partnership with Carly Schiff of Gateley Plc 28th Sep
Q&As
Under bankruptcy law, the bankrupt’s property subject to certain exceptions, called the estate, vests in the trustee in bankruptcy automatically upon...
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Produced in partnership with XXIV Old Buildings 28th Sep
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
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28th Sep
Q&As
The directors of a company remain in office after the appointment of an administrator although, as the administrator has the power to carry on the...
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Produced in partnership with Caroline Clark 28th Sep

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