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About Restructuring & Insolvency Law

In Restructuring & Insolvency, your reputation, relationships and referrals are everything. You need to be the expert. You need to know the latest tips and tricks. You need to know what’s happening in the market right now. Lexis+ Restructuring & Insolvency is designed to give you that edge.

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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Helping restructuring and insolvency professionals stay up-to-date with legal and market developments, and work faster and smarter.

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Associated legal terms

Asymmetric encryption (key pair)

Asymmetric encryption utilising key pairs is the most common type of encryption used for digital signature creation and verification. Software is used to generate a private key and a mathematically related public key. The private key is used by the signatory to encrypt the signature data. The public key, which is provided to the recipient of the electronic document, is then used to decrypt the data and verify the integrity of the document.

Current monthly income

Current monthly income describes the amount an individual is presently receiving per calendar month from all sources, used in affordability assessments, maintenance, insolvency contributions and means testing. It is not generally a defined statutory term in the UK or Ireland; it is a descriptive budgeting measure, with figures taken gross (before tax) or net (after tax) depending on the relevant regime or form.

Typical inclusions are salary, overtime, bonuses, commission, self-employment profit or drawings, pension, rental income, dividends, state benefits and tax credits, and maintenance received. Where income fluctuates, practitioners commonly average over 3–12 months (or one accounting year for the self-employed). Evidence usually includes recent payslips, bank statements, tax returns, accounts, and award letters.

In England & Wales and Northern Ireland, bankruptcy income payment agreements/orders and other insolvency solutions assess monthly surplus income; Scotland uses the Common Financial Tool to set Debtor Contribution Orders; Ireland assesses net disposable income monthly using Reasonable Living Expenses under the personal insolvency and bankruptcy frameworks.

In family cases, spousal maintenance and financial remedies use monthly schedules; statutory child maintenance is set on gross weekly income, often converted for budgeting. Across England & Wales, Scotland, Northern Ireland and Ireland, usage is broadly consistent as a practical, source-inclusive, monthly income measure.

Establishment

A term used in (a) the EC Regulation on Insolvency/the Recast Regulation and (b) UNCITRAL Model Law regarding secondary proceedings.
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