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

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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
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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
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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
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The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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9th Nov
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
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
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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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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
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
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
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
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For...
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Produced in partnership with Robert Smailes of Leonard Curtis Business Solutions Group & Simon Hunter of Three Stone 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 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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9th Apr
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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9th Apr
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 Mar
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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Produced in partnership with Philip Hinks of 3 Verulam Buildings (3VB) 3rd Mar
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 23rd Feb
Q&As
The bankruptcy estateThe first point to note is that the bankruptcy estate comprises all property belonging to or vested in the bankrupt at the...
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15th Feb
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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15th Feb
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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15th Feb
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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15th Feb
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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15th Feb
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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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

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