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Scotland: personal insolvency

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Latest Restructuring & Insolvency News

Application of modified universalism where Article 4 of Brussels I (recast) is engaged (WWRT v Tyshchenko)

Application of modified universalism where Article 4 of Brussels I (recast) is engaged (WWRT v Tyshchenko)

The following Dispute Resolution news provides comprehensive and up to date legal information on Application of modified universalism where Article 4 of Brussels I (recast) is engaged (WWRT v Tyshchenko)

Recognition of EEA credit institution insolvency proceedings post-Brexit (Re Greensill Bank AG)

Recognition of EEA credit institution insolvency proceedings post-Brexit (Re Greensill Bank AG)

The following Banking & Finance news provides comprehensive and up to date legal information on Recognition of EEA credit institution insolvency proceedings post-Brexit (Re Greensill Bank AG)

Third party payments and conflicting governing law in EU insolvency (ZM v E.A. Frerichs)

Third party payments and conflicting governing law in EU insolvency (ZM v E.A. Frerichs)

The following Dispute Resolution news provides comprehensive and up to date legal information on Third party payments and conflicting governing law in EU insolvency (ZM v E.A. Frerichs)

Restructuring & Insolvency weekly highlights—29 April 2021

Restructuring & Insolvency weekly highlights—29 April 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Restructuring & Insolvency weekly highlights—29 April 2021

Featured Restructuring & Insolvency content

Key elements of a standstill agreement

Key elements of a standstill agreement

When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the...

Compulsory winding up of a company—the process and procedure

Compulsory winding up of a company—the process and procedure

STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose...

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made

Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For...

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

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...

Practice notes

Winding-up and administration searches for companies at the Central Registry

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

Cashflow and balance sheet tests for insolvency

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

What is considered onerous property or contracts?

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

Role, powers, functions and duties of a liquidator

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

Loan to value covenants

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

Effect of a moratorium in a company voluntary arrangement (CVA) on creditors and the company [ARCHIVED]

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

Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986

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
tag iconIn-house
Practice notes

How to serve a demand for payment

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
Precedents

Certificate of urgency for applications in insolvency proceedings

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

Prohibited names under section 216 of the Insolvency Act 1986

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
Practice notes

Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016

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
tag iconIn-house
Practice notes

Key features of securitisation and asset based lending

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

Misfeasance claims under section 212 of the Insolvency Act 1986

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
tag iconIn-house
Practice notes

A guide to independent business reviews

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

Avoiding invalid floating charges under section 245 of the Insolvency Act 1986

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

Interim receivers

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

Most recent Scotland: personal insolvency content

Practice notes

Scotland: insolvency of ordinary partnerships and limited partnerships

This Practice Note relates to insolvent partnerships and limited partnerships in Scotland, by which it is meant:•ordinary partnerships: with a...
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Produced in partnership with Tim Cooper of Addleshaw Goddard 29th Apr
tag iconScottish Law
Practice notes

Coronavirus (COVID-19)—Scotland tracker

This table below contains an archive of news analysis on Scotland and Scots law developments of general application and those which affect various...
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26th Apr
tag iconScottish Law tag iconCOVID-19
Practice notes

Coronavirus (COVID-19) implications for dispute resolution in Scotland

This Practice Note provides guidance on how the Scottish civil courts are responding to and operating during the coronavirus (COVID-19) pandemic,...
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26th Apr
tag iconScottish Law tag iconCOVID-19
Practice notes

Glossary of Scottish insolvency words and expressions

This is a glossary of common words and expressions used in Scottish insolvency law with the nearest England and Wales insolvency law equivalent (where...
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9th Apr
tag iconScottish Law
Practice notes

Scotland: the process for applying for sequestration

For the impact of Brexit on Scottish procedures, see Practice Note: Table showing impact of Brexit on jurisdiction to commence...
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Produced in partnership with James Lloyd of Harper Macleod LLP 22nd Mar
tag iconScottish Law
Practice notes

Adjudication for debt in Scottish civil litigation

This Practice Note:•considers the position in Scotland. For guidance on:◦the equivalent in England and Wales, see: Introduction to...
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Produced in partnership with Julie Hamilton of MacRoberts LLP 19th Mar
tag iconScottish Law
Practice notes

Coronavirus (COVID-19)—property in Scotland

This Practice Note introduces the key implications that property practitioners in Scotland should consider in relation to the coronavirus pandemic,...
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19th Mar
tag iconScottish Law tag iconCOVID-19
Practice notes

Scotland: protected trust deeds

Trust deeds have, for many years, been utilised by debtors as a means of reaching a compromise with their creditors as an alternative to formal...
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Produced in partnership with James Lloyd of Harper Macleod 19th Mar
tag iconScottish Law
Practice notes

Scotland: process for pursuing—establishing apparent insolvency or an inability to pay debts

Coronavirus (COVID-19)/CIGA 2020This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus...
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Produced in partnership with Joan Devine and Rachael Bicknell of Addleshaw Goddard LLP 9th Mar
tag iconScottish Law
Practice notes

Scotland: the Debt Arrangement Scheme

The Debt Arrangement Scheme (DAS) is a statutory scheme that is designed to allow certain categories of debtor to repay their debts over an extended...
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Produced in partnership with James Lloyd of Harper Macleod LLP 9th Mar
tag iconScottish Law
Practice notes

Scotland: gratuitous alienations by individual debtors

For any insolvency process to operate effectively, it is essential the person appointed to wind-up the insolvent estate has powers that enable them to...
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Produced in partnership with James Lloyd of Harper Macleod 9th Mar
tag iconScottish Law
Practice notes

Scotland: dealing with the debtor's home in sequestration

In the majority of sequestrations where the debtor has assets these will include the debtor's home (see Practice Note: Scotland: the process for...
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Produced in partnership with James Lloyd of Harper Macleod LLP 9th Mar
tag iconScottish Law
Practice notes

Scotland: the Accountant in Bankruptcy

The office of the Accountant in Bankruptcy (AiB) was created by section 156 of the Bankruptcy (Scotland) Act 1856 . Previously, the functions of the...
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Produced in partnership with James Lloyd of Harper Macleod LLP 9th Mar
tag iconScottish Law
Practice notes

Inhibition in Scottish civil litigation

This Practice Note considers the position in Scotland. For guidance on:•other forms of diligence in Scottish civil procedure, see Practice Note:...
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Produced in partnership with Julie Hamilton of MacRoberts LLP 9th Mar
tag iconScottish Law
Practice notes

Money attachment in Scottish civil litigation

This Practice Note considers the position in Scotland. For guidance on:•the equivalent in England and Wales, see: Introduction to enforcement—overview...
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Produced in partnership with Julie Hamilton of MacRoberts LLP 9th Mar
tag iconScottish Law
Practice notes

Diligence against earnings in Scottish civil litigation

This Practice Note considers the position in Scotland. For guidance on:•the equivalent in England and Wales, see: Introduction to enforcement—overview...
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Produced in partnership with Lynsay Cargill of MacRoberts LLP 9th Mar
tag iconScottish Law
Practice notes

Attachment in Scottish civil litigation

This Practice Note considers the position in Scotland. For guidance on:•other forms of diligence in Scottish civil procedure, see Practice Note:...
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Produced in partnership with Julie Hamilton of MacRoberts LLP 9th Mar
tag iconScottish Law
Practice notes

Scottish civil recovery—process and procedure

Recovery ordersThis Practice Note outlines the Scottish procedure for obtaining a civil recovery order under the Proceeds of Crime Act 2002 (POCA...
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Produced in partnership with Craig Kennedy of Dentons UK and Middle East LLP 9th Mar
tag iconScottish Law
Precedents

Style party designation and execution clauses—property—Scotland

1Individual1.1Individual or sole trader party designation clause[insert full name of party] of [trading as [insert trading name]] of [insert address]...
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Produced in partnership with Rachel Oliphant of Pinsent Masons 12th Feb
tag iconScottish Law

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LEXISNEXIS

Written basis of plea and Newton hearings

When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction

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Conditions precedent in commercial contracts

This Practice Note considers the meaning and use of conditions precedent in commercial arrangements. It also considers typical conditions precedent and drafting issues.What are conditions precedent?A condition precedent in a commercial contract details an event which must take place before:•a

LEXISNEXIS

Recklessness in criminal cases

What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G

LEXISNEXIS

Loan Market Association (LMA)—news on documentation [Archived]

This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on