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

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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
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
Precedents
Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...
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9th Nov
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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9th Nov
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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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 12th Jan
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 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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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan
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
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
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
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 12th Jan
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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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
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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9th Nov
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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9th Nov
Practice notes
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 12th Jan
Practice notes
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the...
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9th Nov

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

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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1st Apr
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 25th Mar
Practice notes
Who is the nominee and what is their role in the CVA?The nominee is a key individual in a company voluntary arrangement (CVA). For further information...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 24th Mar
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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Produced in partnership with Peter Kelso, solicitor 24th Mar
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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16th Mar
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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16th Mar
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 Feb
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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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 24th Feb
Q&As
Where an appointment or nomination of any person to the office of liquidator relates to more than one person or has the effect that the office is to...
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15th Feb
Q&As
In answering this Q&A, we have referred to creditors’ voluntary winding up only.A liquidator is the officer appointed when a company goes into...
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15th Feb
Q&As
Upon bankruptcy, the bankrupt’s estate vests in the trustee immediately upon their appointment taking effect (section 306 of the Insolvency Act 1986...
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Produced in partnership with Chris Adams of Gosschalks 15th Feb
Q&As
In answering this Q&A, we have considered the power of a liquidator to deal with the company’s assets after the commencement of liquidation.Section...
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Produced in partnership with Simon Passfield of Guildhall Chambers 15th Feb
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 15th Feb
Q&As
Company granting power of attorneyWhether a company (or any other body corporate) can grant a power of attorney will depend on its constitution....
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15th Feb
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 15th Feb
Q&As
Powers of an administratorThe administrator's powers are the same no matter how they are appointed. They are very wide as an administrator may do...
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15th Feb

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