Accepting a surrender can be the quickest way for a landlord to regain possession of the premises from an insolvent tenant. It circumvents the extra requirements before...
This Practice Note will give a basic overview of what amounts to an administration expense and some of the case law on this topic. Expenses of an administration are...
Real estate often forms part of the assets of an insolvent company to be sold by an administrator and can frequently be key to a potential buyer so it can continue the...
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules 2016, SI 2016/1024—see:...
Date[insert date of appointment] Parties 1 [insert name of Lender] of [insert address][incorporated in England and Wales with company registration number [insert company...
Bankruptcy searches at the Land Charges Department When a bankruptcy petition is presented by a creditor, the court shall as soon as reasonably practicable send to the...
The receiver’s duty The duty owed by a receiver to a mortgagor when selling a property is the same as that owed by the mortgagee to a mortgagor: • in exercising his power...
On 23 June 2016, the UK held a referendum on membership of the EU, with a 52% majority voting in favour of the UK leaving the EU. The full impact of the UK’s decision to...
Brexit impact As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
Brexit impact As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
As a result of the 23 June 2016 UK referendum on membership of the EU, which voted with a 52% majority voting in favour of the UK leaving the EU, government published the...
Repayment covenant A claim under the repayment covenant in the principal mortgage can be made against any covenantor, whether principal or surety. Whether or not a...
Right to recover rent The commercial rent arrears recovery (CRAR) regime allows landlords to seize a tenant’s goods from the demised premises in order to recover unpaid...
This Agreement is made on [date] Parties 1 [[insert name of Trustee in Bankruptcy] of [insert address] (the trustee in bankruptcy of the estate of the Debtor) (the...
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 be appointed by the...
Restructuring and insolvency professionals may find themselves working with businesses that have obligations under the CRC Energy Efficiency Scheme (CRC Scheme). This...
Prudential Assurance v PRG Powerhouse first highlighted the potential use of a company voluntary arrangement (CVA) for 'guarantee stripping', where the beneficiary of a...
What is a CVA? A company voluntary arrangement (CVA) is an arrangement between a company and its creditors, supervised by an IP (who is known as the supervisor once the...
This Practice Note considers the position of a fixed charge receiver appointed over a development property—commonly a residential block of flats under construction—where...
Coronavirus (COVID-19): Note that from 26 March 2020 until 30 September 2020 under section 81 and Schedule 29 of the Coronavirus Act 2020: • notices to quit proceedings...
This Deed is made on [insert date] Parties 1 [insert name of lender][a company] incorporated in [England and Wales] under number [insert registered number] whose...
Dated the [insert day and month] 20[insert year] Parties 1 [name of Lender] a company incorporated in [England and Wales] under number [insert company number] whose...
Date [insert date of surrender] Parties 1 [insert name of Landlord] [of [insert address] OR incorporated in England and Wales with company registration number [insert...
[To be printed on headed notepaper of the lender making demand] To: [Insert name of individual and/or position] [insert name of the Borrower or other relevant entity]...
[To be printed on headed notepaper of the lender making demand] To: [Insert name of individual and/or position] [insert name of the Guarantor or other relevant entity]...
Where the a fixed charge receiver is acting on behalf of the seller in selling a property, the receiver's underlying objective is to have a 'clean deal'—that is,...