Statutory demands for restructuring and insolvency professionals

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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 30th Oct
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 23rd Oct
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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22nd Oct
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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15th Oct
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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15th Oct
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 Oct
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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5th Oct
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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27th Sep
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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26th Sep
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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26th Sep
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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25th Sep
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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25th Sep
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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25th Sep
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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25th Sep
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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25th Sep
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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25th Sep

Most recent Statutory demands for restructuring and insolvency professionals content

Practice notes
What is a statutory demand?•a statutory demand is a formal written demand made of a company for payment of a debt (in excess of £750) within 21...
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25th Sep
Q&As
Joint and several liabilityJoint and several liability arises where two or more persons under the same contract make a promise to the same person, and...
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28th Sep
Q&As
A statutory demand is a formal demand for a debt served by a creditor on its debtor. Failure by the debtor to pay the debt, or satisfy or secure it to...
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28th Sep
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
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Produced in partnership with David Sawtell of 39 Essex Chambers 28th Sep
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
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28th Sep
Q&As
Insolvency (England & Wales) Rules 2016 (IR 2016), SI 2016/1024, r 10.2 provides that a creditor must do all that is reasonable to bring the statutory...
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Produced in partnership with Alison Curry of Insolvency Support Services 28th Sep
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
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Produced in partnership with Tina Kyriakides of Radcliffe Chambers 28th Sep
Q&As
For the purpose of answering this Q&A, we have not considered the methods available generally for the service of a statutory demand on a company (ie...
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28th Sep
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
Read More >
28th Sep
Q&As
A statutory demand is a demand for payment of a debt due to a creditor by a debtor. Where a statutory demand is served on a company and the debt is...
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28th Sep
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
Read More >
28th Sep
Q&As
What is a statutory demand?A statutory demand (in both corporate and personal insolvency) is a demand for a debt—either payable now, or payable at...
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28th Sep
Q&As
The purpose of serving a statutory demand is to establish that a debtor company is unable to pay its debts. If a debtor fails to pay the sums demanded...
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28th Sep
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
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Produced in partnership with Caroline Clark 28th Sep
Q&As
The answer to this question appears to be that it is not possible to amend the statutory demand and a new or additional demand needs to be served.The...
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28th Sep
Q&As
A company may serve a statutory demand to an ex-director for a director’s loan as directors are personally liable for debt resulting from loan...
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28th Sep

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