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

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

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 Philip Hinks of 3 Verulam Buildings (3VB) 15th Jan
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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15th Jan
Practice notes
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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Produced in partnership with Amit Gupta of St Philips Chambers 15th Jan
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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Produced in partnership with Katherine Hallett of Three Stone Chambers 15th Jan
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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15th Jan
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 8th Jan
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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7th Dec
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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29th Nov
Precedents
[insert name, address and contact details or reference of author][insert date]To: [insert the name[s] of the person[s] to whom the letter is...
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29th Nov
Q&As
For the purposes of this Q&A we have assumed that the bankrupt owned the property at the time the bankruptcy order was made, and that there were no...
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29th Nov
Q&As
In general terms, all property (as so broadly defined) belonging to or vested in the bankrupt at the commencement of the bankruptcy forms part of the...
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29th Nov
Q&As
The mandatory transfer provisions should be considered in conjunction with the anti-deprivation principle (ADP). The ADP is a principle that seeks to...
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29th Nov

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