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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.
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This week's edition of Restructuring & Insolvency weekly highlights includes: an analysis of the office-holder’s approach to assigning litigation...
The Insolvency Service has updated its enforcement outcomes management information tables for February 2026. The data shows that there were 114...
Restructuring & Insolvency analysis: Two former directors of the company in liquidation (the Company) applied under section 168(5) of the Insolvency...
The Accountant in Bankruptcy (AiB) has announced that an independent review of Scotland’s statutory debt solutions has published its final report,...
The Insolvency Service has announced a five-year disqualification for Surrey business adviser, Richard Beal, following the liquidation of his...
Why harmonisation is neededThe divergence between various countries’ insolvency laws has an impact on:•the recovery rates of creditors in different...
Name of parties and citation(s)Judgment dateSubjectFurther readingRe Esken Ltd (Overseas Company Number FC041629) [2026] EWHC 495 (Ch)6 March...
What is an LME?The term liability management exercise (LME) can have various meanings. For the purposes of this Practice Note: (i) LMEs include...
Court fees are payable in connection with the commencement of certain insolvency processes and during an insolvency process (usually in relation to...
The debtor-in-possession (DIP) financing entails a debtor obtaining a loan, usually on a secured basis, from one or more lenders in order to fund its...
[Investment Bank name](in Special Administration)Special Administrators’ Proposals for achieving the purpose of the Special AdministrationNotice:...
Frequently Asked Questions—clients, investors or trade creditorsThese FAQs are intended as guidance only in relation to the Special Administration of...
Court Reference No:[ INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES] [IN [INSERT...
[INSERT NAME OF INVESTMENT BANK]Minutes of a meeting of the board of directors of [insert name of investment bank] (the ‘Company’) held at [insert...
This is an indicative timetable. None of the deadlines are specified by statute. Where the company proposing the plan is a regulated entity, the...
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 notesThe terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be...
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 debtThe range of funding options open to companies has exploded, resulting in a vast...
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 paymentA demand for payment is a formal demand made in accordance with the contractual requirements underpinning the...
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 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)Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act...
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 madeCoronavirus (COVID-19)This content is affected...
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 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 madeThis Practice Note sets out guidance as to what happens...
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 1986It is possible for a claim to be brought under section 423 of the...
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 expensesThis Practice Note provides an overview of what amounts to an administration expense and discusses key case law.Expenses of an...
An alternative to an insolvent liquidation, whether a creditors' voluntary winding up or a compulsory winding up, whereby a company enters into a binding arrangement with its creditors to compromise its debts.
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.
A clause used by suppliers to retain title to goods.