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Practice notes
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeStatutory declaration of solvencyA company...
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Produced in partnership with Robert Smailes of Leonard Curtis Business Solutions Group & Simon Hunter of Three Stone 19th May
Practice notes
RecapitalisationsThe term 'recapitalisation' refers to a company changing the proportions of its debt and equity, something which can be achieved in a...
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Produced in partnership with Alice Morgan of Sidley Austin LLP 19th May
Practice notes
US bankruptcy financing—debtor-in-possession (DIP) financingDIP financing generallyDebtor-in-possession financing (DIP financing) is new,...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 19th May
Practice notes
What is a pre-pack administration sale?Stop pressOn 8 October 2020, the Insolvency Service published the outcome of its review conducted into the...
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19th May
Practice notes
Joint office-holder appointmentsAll insolvency processes allow for the joint appointment of office-holders if required. Whether it is appropriate or...
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19th May
Practice notes
Cashflow and balance sheet tests for insolvencyIntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and...
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Produced in partnership with South Square Chambers 19th May
Practice notes
Secured creditors under a CVA—including effect on guaranteesNeither the company nor its creditors may approve a company voluntary arrangement (CVA)...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 19th May
Practice notes
Coronavirus (COVID-19)—Changes to the court process in insolvency proceedingsThe UK Government’s policy of social distancing in order to slow the...
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19th May
Q&As
Can a claim be made against a company for trading whilst insolvent? If the company is conducting litigation, does this constitute ‘trading’? If so,...
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19th May
Practice notes
Compulsory winding up of a company—the process and procedureSTOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on...
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Produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings 19th May
Practice notes
Prohibited names under section 216 of the Insolvency Act 1986The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act...
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19th May
Practice notes
Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016IntroductionSet-off refers to claims that may be set-off against...
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Produced in partnership with South Square Chambers and BDO 19th May
Practice notes
A guide to independent business reviewsThis Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around...
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Produced in partnership with Allan Kelly of RSM 19th May
Practice notes
Covenant waivers and resetsOne of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver,...
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19th May
Practice notes
Basic introduction to super senior, senior, mezzanine and junior debtThe range of funding options open to companies has exploded, resulting in a vast...
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19th May

Most recent Day-to-day practical issues content

Q&As
Will the English courts enforce a reservation of title (ROT) clause in a contract governed by German law but where the relevant assets are in...
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31st Jul
Q&As
What is the impact of section 233B of the Insolvency Act 1986 on a supplier or customer based in the UK where the supply contract is not governed by...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 31st Jul
Q&As
Does new section 233B of the Insolvency Act 1986 affect contracts for the supply of goods and services under which the supplier and/or the customer...
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Produced in partnership with Oberon Kwok of Selborne Chambers and Chris Bryden of 4 King’s Bench Walk 31st Jul
Practice notes
What is electronic money?BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...
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31st Jul
Q&As
If a customer of a supplier goes into an insolvency process, is it possible to recover debts owed directly from the customer’s end users? If not, what...
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31st Jul
Practice notes
Crypto–assets in insolvencyCrypto–assets—the basicsIn its simplest form, cryptoassets are a virtual currency which uses encryption to verify...
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Produced in partnership with Charlotte Møller of Brown Rudnick LLP and Claude Brown of Reed Smith 31st Jul
Practice notes
Conflicts in restructuring and insolvencyIn any insolvency situation, there are a number of parties involved that require legal advice and, in certain...
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31st Jul
Practice notes
The Insolvency (Protection of Essential Supplies) Order 2015—what is its effect?The Insolvency (Protection of Essential Supplies) Order 2015 (I(PES)O...
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31st Jul
Practice notes
Key elements of confidentiality agreements—restructuring & insolvencyWhen restructuring is being considered, the company must ensure that relevant...
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31st Jul
Practice notes
Proprietary claimsCreditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather...
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31st Jul
Practice notes
Dealing with suppliers, customers and ROT claimsAlthough suppliers are generally unsecured creditors (unless they establish a valid retention of title...
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Produced in partnership with Tom Shepherd of 4 New Square 31st Jul
Practice notes
Chief restructuring officers—role and identityIn the initial stages of distress, the lending group or creditors' committee may request that an...
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31st Jul
Practice notes
Social media in insolvency and restructuring dealsInsolvency and restructuring professionals have grown up in an environment where they have generally...
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Produced in partnership with Nick Hood of Opus Restructuring LLP 31st Jul
Practice notes
Effect of equitable, contractual and structural subordinationSenior creditors will ensure that in addition to having higher security rights over...
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30th Jul
Precedents
Confidentiality agreement — restructuring & insolvencyThis Agreement is made [insert day and month] 20[insert year]Parties1[insert name of debtor...
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30th Jul
Practice notes
Financial crime in the financial services sectorMarket abuse and insider dealing are forms of financial crime involving misconduct in, or misuse of...
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30th Jul
Precedents
Retention of title (standard, or simple) clause1Title and risk1.1Risk in the Goods will pass to the Buyer [on [completion of] delivery OR when the...
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30th Jul
Practice notes
Market Abuse—pre Market Abuse Regulation [Archived]This Practice Note is archived as is not maintained. This Practice Note provides an overview of the...
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30th Jul
Practice notes
Legal opinions—uses, scope and structureLegal opinions are used in the vast majority of financing transactions. They are usually either a condition...
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30th Jul
Practice notes
Retention of titleThis Practice Note considers retention of title clauses, also known as reservation of title, ROT or Romalpa clauses. It considers...
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30th Jul

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