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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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The Insolvency Service has announced a five-year disqualification for Surrey business adviser, Richard Beal, following the liquidation of his...
The Insolvency Service has published its monthly insolvency statistics for February 2026 on company and individual insolvencies in England and Wales....
Restructuring & Insolvency analysis: The latest edition of Corporate Rescue and Insolvency (February 2026) is now available in Lexis+® UK...
The Insolvency Service has reported that Shohid Ahmed has been ordered to pay £123,000 under a confiscation order, together with £6,000 in costs,...
Companies House has announced that it has resolved a security issue affecting its WebFiling service, discovered on 13 March 2026, which potentially...
There is an array of different debt and capital structure options available to borrowers. Historically, it was common to see senior debt (usually held...
This Practice Note provides Q&As relating to liability management exercises (LMEs) or liability management transactions (LMTs) with a particular focus...
STOP PRESS: The Financial Conduct Authority (FCA) has published policy statement PS25/12, confirming final rules to strengthen the safeguarding regime...
On 5 July 2022, the Financial Conduct Authority (FCA) published guidance on schemes of arrangement (as well as restructuring plans and voluntary...
This Practice Note considers section 304 of the Insolvency Act 1986 (IA 1986) which allows certain parties rights to enforce against a trustee in...
[IN THE HIGH COURT OF JUSTICE[BUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [insert location]]][Specify division][Specify specialist...
Applicant(s): [insert initials and surname]: [insert number of witness statement eg 1st] Exhibit: [insert exhibit description]: Date: [insert date of...
Note: This Precedent should be used in conjunction with an application notice template that complies with the Insolvency (England and Wales) Rules...
The Practice Statement for schemes and RPs 2025 governs the procedure for Part 26 schemes of arrangement (schemes; see Practice Note: Schemes of...
CASE NO: [insert case number][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS OF ENGLAND AND WALESINSOLVENCY AND COMPANIES LIST (ChD)ORIN 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...
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.
means an agreement between the Parties to implement a plan to restructure the Company’s business and debts
A court order authorising the petitioning creditor to cite the debtor to appear in court on a stated date to show that grounds for sequestration no longer exist. If the debtor fails to appear or fails to show that they should not be sequestrated, sequestration will be awarded effective from the date the order was granted