Definition of the bankruptcy estate and which assets vest in the trustee in bankruptcy

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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
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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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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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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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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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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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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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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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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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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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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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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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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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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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Most recent Definition of the bankruptcy estate and which assets vest in the trustee in bankruptcy content

Practice notes
One of the main functions of the trustee in bankruptcy (trustee) is, in accordance with section 305(2) of the Insolvency Act 1986 (IA 1986), to get...
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25th Sep
Practice notes
The position of a personal pension on bankruptcyA bankrupt’s estate automatically vests in the official receiver (or an insolvency practitioner if...
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25th Sep
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The 'three-year rule' and why it appliesThe reforms introduced by the Enterprise Act 2002 (EnA 2002) included the insertion of a new section 283A into...
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25th Sep
Practice notes
Definition of property and some general principlesProperty is defined very widely in section 436 of the Insolvency Act 1986 (IA 1986), and includes...
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26th Sep
Practice notes
Bankruptcy estateUnder section 306(1) of the Insolvency Act 1986 (IA 1986), the bankrupt’s estate vests in the trustee in bankruptcy (trustee)...
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26th Sep
Q&As
Where a person is made bankrupt, a trustee in bankruptcy is appointed into whose hand is vested the assets of the bankrupt. The role of the trustee in...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 28th Sep
Q&As
Section 283 of the Insolvency Act 1986 (IA 1986) exempts certain assets from falling within the bankruptcy estate. There is a specific exclusion for...
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28th Sep
Q&As
The position will depend on whether the cause of action giving rise to the claim for mis-selling arose before or after the making of the bankruptcy...
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28th Sep
Q&As
Under section 283A of the Insolvency Act 1986 (IA 1986), a trustee in bankruptcy (trustee) is required to take the steps set out in that section in...
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28th Sep
Q&As
The bankrupt’s estatePursuant to section 283 of the Insolvency Act 1986 (IA 1986) all property (as so broadly defined) belonging to or vested in the...
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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 (IR 1986) were revoked and replaced by the Insolvency (England and Wales) Rules...
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28th Sep
Q&As
Save for causes of action ‘where the damages are solely to be estimated by immediate reference to pain felt by the bankrupt in respect of his body,...
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28th Sep
Q&As
Is it possible for a bankrupt to have assigned back to them some property which had vested in their trustee in bankruptcy by virtue of the Insolvency...
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28th Sep
Q&As
Under section 285 of the Insolvency Act 1986 (IA 1986), on the making of a bankruptcy order, no creditor of the bankrupt who has a provable claim can...
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28th Sep
Q&As
In answering this Q&A, we assume you are referring to a claim that has not yet been issued at court.The presentation of a bankruptcy petition, by a...
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28th Sep
Q&As
In answering this Q&A, we have assumed that the breach of covenant is either a breach of a short-term tenancy lease or a long leasehold interest.The...
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28th Sep

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