Inter-creditor issues

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Practice notes
What is a misfeasance claim under section 212 of the Insolvency Act 1986?Claims commenced under section 212 of the Insolvency Act 1986 (IA 1986) are...
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9th Nov
Practice notes
IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...
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Produced in partnership with South Square and BDO LLP 12th Jan
Practice notes
The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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9th Nov
Precedents
Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...
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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
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
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
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
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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Produced in partnership with Stephen Allinson 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
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 Inter-creditor issues content

Practice notes
BackgroundThe aim of the intercreditor agreement (also known as a deed of priority) is to try and deal with potential conflicts which will inevitably...
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9th Apr
Practice notes
RationaleThe importance of intercreditor agreements has grown with the increased use of different layers of debt by a company or group of companies....
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9th Apr
Practice notes
The European leveraged finance loans market prides itself on innovation and its ability to adapt quickly and develop products to cater for current...
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Produced by Susan Whitehead of Hogan Lovells 8th Apr
Practice notes
Enforcement is an important area regulated by the intercreditor agreement. This note discusses:•the situations in which mezzanine lenders typically...
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Produced in partnership with Hogan Lovells 8th Apr
Practice notes
This Practice Note discusses two types of provisions that are frequently included in intercreditor agreements that involve both senior and mezzanine...
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Produced in partnership with Hogan Lovells International LLP 8th Apr
Practice notes
In addition to ensuring its security has been validity created and perfected, a secured party will want to ensure its security ranks as it expects...
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8th Apr
Practice notes
Competing security interests arise when more than one creditor has taken security over the same asset or group of assets. Determining the order of...
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8th Apr
Practice notes
BackgroundThe aim of the intercreditor agreement is to try and deal with potential conflicts which will inevitably arise between the different classes...
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8th Apr
Q&As
Between themselves, legal mortgages are ‘registrable dispositions’ and rank in priority in the order shown in the charges register for the property...
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Produced in partnership with Chris Adams of Gosschalks 15th Feb

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