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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
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
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
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
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
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
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
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 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
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
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
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
Practice notes
This Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around an IBR•identify when an IBR may be...
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Produced in partnership with Allan Kelly of RSM 12th Jan
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 contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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Produced in partnership with South Square and BDO LLP 12th Jan
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

Most recent Day-to-day practical issues content

Practice notes
When restructuring is being considered, the company must ensure that relevant creditors quickly enter into a confidentiality agreement or...
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9th Apr
Practice notes
Insolvency and restructuring professionals have grown up in an environment where they have generally confined communication (both internal and...
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Produced in partnership with Nick Hood of Opus Restructuring LLP 9th Apr
Practice notes
This Practice Note is archived as is not maintained. This Practice Note provides an overview of the civil/regulatory regime which governed market...
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9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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9th Apr
Practice notes
Comfort letters are encountered in finance transactions relatively often. They take different forms and it is important from both the lender's...
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8th Apr
Practice notes
Legal opinions are used in the vast majority of financing transactions. They are usually either a condition precedent to funding or a condition...
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8th Apr
Practice notes
Crypto–assets—the basicsIn its simplest form, cryptoassets are a virtual currency which uses encryption to verify transactions denominated in that...
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Produced in partnership with Charlotte Møller of Brown Rudnick LLP and Claude Brown of Reed Smith 8th Apr
Practice notes
In any insolvency situation, there are a number of parties involved that require legal advice and, in certain circumstances, parties with common...
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6th Apr
Practice notes
In the initial stages of distress, the lending group or creditors' committee may request that an independent chief restructuring officer (CRO) is...
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6th Apr
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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30th Mar
Practice notes
The Insolvency (Protection of Essential Supplies) Order 2015 (I(PES)O 2015), SI 2015/989 was made on 26 March 2015 and, in accordance with article...
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26th Mar
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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23rd Mar
Practice notes
In finance transactions, the terms 'netting' and 'set-off' are sometimes used interchangeably even though they are not the same thing. The confusion...
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19th Mar
Q&As
Section 233B of the Insolvency Act 1986 (IA 1986) was inserted by the Corporate Insolvency and Governance Act 2020. IA 1986, s 233B(3) provides that...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 16th Mar
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 16th Mar
Precedents
This Agreement is made [insert day and month] 20[insert year]Parties1[insert name of debtor company] a company incorporated in [insert country eg...
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16th Mar
Precedents
1Title and risk1.1Risk in the Goods will pass to the Buyer [on [completion of] delivery OR when the Goods are transferred to the carrier].1.2Title to...
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8th Mar
Practice notes
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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1st Mar
Practice notes
This Practice Note considers retention of title clauses, also known as reservation of title, ROT or Romalpa clauses. It considers the uses and...
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1st Mar
Practice notes
The popularity of financing business through the invoice discounting and factoring of receivables has grown significantly in the UK over the last 25...
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Produced in partnership with DLA Piper 26th Feb

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