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Brexit
Brexit is a significant subject for R&I lawyers due to the reciprocal nature of our relationship with Europe. Our Brexit content offers key information and updates for all practitioners, as well as legislation trackers.
Corporate Insolvency and Governance Act 2020
Includes new legislation due to coronavirus. Temporary provisions centre around winding-up petitions, wrongful trading and ipso facto clauses. Permanent changes include the creation of two corporate insolvency processes.
International content
Get country guides for 45 jurisdictions – the majority are from our Getting the Deal Through series. Where there are jurisdictional gaps, we have commissioned content, and have created several comparison tables.
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Our Restructuring & Insolvency Experts
Marcia Shekerdemian
David Kerr
Lesley Anderson
Peter Declercq
Joseph Curl
Latest Restructuring & Insolvency News
The International Swaps and Derivatives Association (ISDA) has published a consultation paper proposing new solutions for handling lock-up agreements...
This week's edition of Restructuring & Insolvency weekly highlights includes: an examination of a liquidator’s discretion to convert a members’...
The Association for Business Recovery Professionals (R3) has responded to the Insolvency Service's first major update on the Personal Insolvency...
The Insolvency Service has reported the disqualification of building contractor Tahir Haq from serving as a company director for 11 years, accompanied...
Restructuring & Insolvency analysis: This judgment confirms that, if a company in members’ voluntary liquidation (MVL) is unable to pay its debts in...
Latest Restructuring & Insolvency Practice Notes
Restructuring plans collection—News analysisRelevant news analysisThe Lexis+® UK teams regularly publish analysis on Part 26A restructuring plans,...
The Corporate Insolvency and Governance Act 2020, the increase in the prescribed part and reintroduction of Crown preference—key issues and discussion...
Virtual execution of documentsThis Practice Note provides practical guidance on how to execute documents properly when one or more parties to a...
Part 26A restructuring plan deal debrief—Cineworld Cinemas LimitedCineworld Cinemas Limited (and three other group companies) applied for four Part...
2017: Key Restructuring & Insolvency cases [Archived]This Practice Note has been archived and is not maintained.Name of parties and...
Latest Restructuring & Insolvency Precedents
Draft order granting permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the Insolvency Act 1986CASE NO: [insert...
Demand letter—borrower[To be printed on headed notepaper of the lender making demand]To: [Insert name of individual and/or position][insert name of...
Witness statement attaching report and meeting summary for restructuring planOn behalf of ApplicantBy: [insert name]Statement No 1Exhibits [insert...
Confirmation of guarantee on variation of underlying facility agreement (bilateral)[To be printed on the headed paper of the Guarantor][insert...
Restructuring plan/Scheme of arrangement: wording for company’s websiteThese restructuring plan/scheme FAQs were last updated by the Company on...
Latest Restructuring & Insolvency Q&As
Featured Restructuring & Insolvency content
Role, powers, functions and duties of a liquidator
Role, powers, functions and duties of a liquidatorThe role and function of a liquidatorA liquidator is the officer appointed when a company goes into...
Bonds and notes
Bonds and notesThe terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be...
Bankruptcy searches
Bankruptcy searchesBankruptcy searches at the Land Charges DepartmentWhen a bankruptcy petition is presented by a creditor, the court shall as soon as...
Basic introduction to super senior, senior, mezzanine and junior debt
Basic introduction to super senior, senior, mezzanine and junior debtThe range of funding options open to companies has exploded, resulting in a vast...
Key elements of a standstill agreement
Key elements of a standstill agreementWhen restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of...
How to serve a demand for payment
How to serve a demand for paymentA demand for payment is a formal demand made in accordance with the contractual requirements underpinning the...
Receivership—an introductory guide
Receivership—an introductory guideThe appointment of a receiver is a remedy for creditors and certain third parties to protect their interest in...
Debt for equity swaps
Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in...
Challenging an individual voluntary arrangement (IVA)
Challenging an individual voluntary arrangement (IVA)Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act...
Cashflow and balance sheet tests for insolvency
Cashflow and balance sheet tests for insolvencyIntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and...
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 madeCoronavirus (COVID-19)This content is affected...
Bankruptcy petitions—process and procedure post-presentation of the petition
Bankruptcy petitions—process and procedureBefore the hearing of the creditors’ bankruptcy petition takes place, there are a number of steps that must...
Role, powers, functions and duties of an administrator
Role, powers, functions and duties of an administratorThe role, powers and duties of an appointed administrator are set out in the Insolvency Act 1986...
Effect on proceedings against a company being wound up and after a winding-up order is made
Effect on proceedings against a company being wound up and after a winding-up order is madeThis Practice Note sets out guidance as to what happens...
Insolvency searches for companies at the Central Registry
Insolvency searches for companies at the Central RegistryWhat is the Central Registry of Winding-up Petitions?The Central Registry of Winding-up...
Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986
Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986It is possible for a claim to be brought under section 423 of the...
Role, powers, functions and duties of a trustee in bankruptcy
Role, powers, functions and duties of a trustee in bankruptcyThis Practice Note looks at the roles, powers, functions and duties of the trustee in...
Administration expenses
Administration expensesThis Practice Note provides an overview of what amounts to an administration expense and discusses key case law.Expenses of an...
Associated legal terms
Administration
Administration is a procedure under the Insolvency Act 1986, under which a company in financial difficulties is run by an Administrator as a going concern prior to the implementation of longer-term options such as break-up and sale.
Prescribed part
A sum of money from the floating charge pool set aside for unsecured creditors in a liquidation, administration or administrative receivership, found under Insolvency Act 1986, s 176A.
Use
means distribute, disclose, store, use, analyse, copy, reproduce, extract, modify, or adapt in whole or in part.
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