Personal insolvency

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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
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
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
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
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 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
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
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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9th Nov
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
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
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
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 Personal insolvency content

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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Produced in partnership with South Square and BDO LLP 25th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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25th Jan
Practice notes
Before the hearing of the creditors’ bankruptcy petition takes place, there are a number of steps that must be taken to comply with the procedural...
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25th Jan
Practice notes
This Practice Note looks at what a statutory demand is and what it seeks to achieve in both corporate and personal insolvency. It assumes that the...
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22nd Jan
Practice notes
When either a company or an individual is served with a statutory demand, the warning bells should be ringing, as failure to act on that demand within...
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22nd Jan
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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22nd Jan
Practice notes
Bankruptcy in England and Wales is a process by which the court or the bankruptcy adjudicator adjudicates an individual bankrupt by making a...
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21st Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with Simon Passfield of Guildhall Chambers 19th Jan
Practice notes
An income payments agreement (IPA) is an alternative to an income payments order (IPO), used in circumstances where the bankrupt voluntarily agrees to...
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Produced in partnership with William Willson of South Square and Robert Smailes of Leonard Curtis Business Solutions Group 15th Jan
Practice notes
This Practice Note looks at the process of annulling a bankruptcy order under one of the two grounds set out in section 282(1) of the Insolvency Act...
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15th Jan
Practice notes
This Practice Note contains a summary of individual voluntary arrangements (IVAs) and their impact on legal proceedings from a dispute resolution...
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15th Jan
Practice notes
A bankrupt is discharged from bankruptcy one year after their bankruptcy commences, unless the court grants a suspension of that discharge by reason...
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Produced in partnership with Lydia Pemberton of St Philips Chambers 15th Jan
Practice notes
The purpose of a bankruptcy order is two-fold:•first, it is to secure the bankrupt's estate for the benefit of the bankrupt's creditors so that it can...
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15th Jan
Practice notes
What is a special manager?Origin of the role of the special managerBefore the Insolvency Act 1986 (IA 1986) came into force, the official receiver...
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15th Jan
Practice notes
This Practice Note looks at factors that the court will consider and the test it will apply when faced with an application by a trustee in bankruptcy...
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15th Jan
Practice notes
In certain cases, a bankrupt’s automatic discharge from bankruptcy is suspended by an order of the court. This Practice Note sets out briefly how the...
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Produced in partnership with Amit Gupta of St Philips Chambers 15th Jan
Practice notes
It is not uncommon for bankruptcy and divorce proceedings to run concurrently, or for one set of proceedings to impact on the other. For further...
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15th Jan
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained. The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid...
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Produced in partnership with Ali Tabari of St Philips Chambers 15th Jan

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