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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

Asset Stripping

Asset stripping describes the process of acquiring a company, business or other undertaking primarily to sell off its assets (such as property, plant, intellectual property or valuable contracts) separately, often leaving behind a weakened or insolvent entity.

In UK and Irish legal practice, “asset stripping” is not generally a defined statutory term but a descriptive expression used in company law, insolvency, restructuring and corporate finance contexts. It is closely scrutinised where disposals prejudice creditors, employees, pension schemes or minority shareholders.

Key legal issues include: transactions at an undervalue, preferences, wrongful or fraudulent trading, directors’ duties (including duties to creditors on or near insolvency), financial assistance rules, and schemes to avoid tax or pension liabilities. Insolvency practitioners, liquidators and regulators may challenge asset disposals, seek restoration of assets, or pursue directors and connected parties personally.

The concept is broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland, though it operates within each jurisdiction’s company and insolvency regimes and, in Ireland and the UK, within their respective implementation of EU‑derived rules still in force. Asset stripping is particularly relevant in leveraged buyouts, distressed M&A, pre‑packs and restructuring transactions.

Forum shopping

The practice of choosing a specific jurisdiction favourable to an anticipated restructuring/insolvency, usually by moving COMI (centre of main interests).

Register of Insolvencies (ROI)

A public register that records details of all sequestrations awarded in Scotland (see AiB Register of Insolvencies. It also contains details of protected trust deeds and details of companies in receivership or liquidation since 1 July 1999
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