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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 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 12th Jan
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
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
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
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
The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to...
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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 Q&As content

Q&As
This Q&A refers to a retention of title (ROT) clause in a business-to-business contract for the supply of goods.At its simplest, an ROT clause allows...
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5th May
Q&As
For the purposes of this Q&A, it is assumed that the relevant contract is a business-to-business contract for the supply of goods and/or services...
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Produced in partnership with Oberon Kwok of Selborne Chambers and Chris Bryden of 4 King’s Bench Walk 5th May
Q&As
How to wind up a general partnership or procedureThe winding-up of an insolvent partnership and the winding-up or bankruptcy of its members is...
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29th Apr
Q&As
The winding up of a partnershipThe Insolvent Partnerships Order 1994 (IPO 1994), SI 1994/2421 provides five routes by which a partnership may be wound...
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29th Apr
Q&As
The making of a bankruptcy order against any member of a partnership will generally dissolve the partnership (unless the partnership agreement...
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Produced in partnership with Carly Schiff of Boyes Turner 29th Apr
Q&As
The appointment of a receiver is a remedy for creditors and other third parties to protect their interest in assets. They can be appointed by a court,...
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29th Apr
Q&As
Liquidators are able to disclaim onerous property (see section 178 of Insolvency Act 1986 (IA 1986)). The liquidator may disclaim unprofitable...
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29th Apr
Q&As
2021 guidanceOn 24 February 2021 the Chartered Governance Institute (CGI) issued updated guidance (2021 Guidance) which anticipates that because of...
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27th Apr
Q&As
Unlike company general meetings and annual general meetings, there are no provisions in the Companies Act 2006  regulating board meetings or...
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27th Apr
Q&As
This Q&A considers how Brexit impacts the definition of ‘Art 1.2 undertakings’ in the Insolvency (England and Wales) Rules 2016 (IR 2016), SI...
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22nd Apr
Q&As
This Q&A considers a scenario where:•there is a business-to-business commercial contract which is not subject to specific industry or sector...
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Produced in partnership with XXIV Old Buildings 16th Apr
Q&As
A statutory demand (in both corporate and personal insolvency) is a demand for a debt—either payable now, or payable at some future date—which is...
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14th Apr
Q&As
Centre of main interests (COMI)COMI is an important concept under the EU Recast Regulation on Insolvency Proceedings (Regulation (EU) 2015/848)...
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14th Apr

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