Income payments orders and agreements

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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
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
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
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
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
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 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
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
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 Income payments orders and agreements content

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 9th Apr
Practice notes
An income payments order (IPO) made under section 310 of the Insolvency Act 1986 (IA 1986) allows for the court to direct the income (or a proportion...
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Produced in partnership with South Square Chambers and BDO 8th Apr
Precedents
Applicant: [insert initials and surname]: 1st: (exhibits).1–4: [insert date] 20[insert year]Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH...
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8th Apr
Precedents
In the County Court at [Name of county court hearing centre][Name of the county court hearing centre in which the original Bankruptcy Order was...
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8th Apr
Precedents
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules...
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8th Apr
Q&As
A bankrupt is subject to an ongoing duty to co-operate with their trustee in bankruptcy (trustee) pursuant to inter alia section 333 of the Insolvency...
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15th Mar
Precedents
This Income Payments Agreement is made between:1[FULL NAME] of [ADDRESS] (the Bankrupt)2[FULL NAME] of [FIRM AND FIRM’S ADDRESS] acting as [joint]...
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14th Feb

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