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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
Frank Brumby
Marcia Shekerdemian
David Kerr
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Peter Declercq
Latest Restructuring & Insolvency News
This week's edition of Restructuring & Insolvency weekly highlights includes: an update on the Business and Property Division following structural...
The Insolvency Service has announced that Clark Sinclair Ltd was wound up by the High Court in Manchester on 29 October 2026 under section 124A of the...
Law360, London: Spanish airline Volotea has been granted protection from creditors' actions within England and Wales while it negotiates a...
The House of Commons Public Bill Committee has invited written evidence on the Building Safety (Remediation of Unsafe Cladding etc) Bill, which seeks...
Dispute Resolution analysis: this revised question and answer document considers the structural changes affecting the Chancery Division and the other...
Latest Restructuring & Insolvency Practice Notes
Incorporated v unincorporated charitiesThere are a number of incorporated or unincorporated structures that are adopted by charities.The corporate...
This Practice Note considers the scope of the reflective loss rule. It addresses the background to and implications of the rule against reflective...
FORTHCOMING CHANGE: On 22 October 2026, the Department for Business, Innovation, Science and Trade published a consultation on a draft revised Code of...
A light touch administration essentially refers to administrations in which the directors continue to have some power to run the company during the...
This Practice Note considers broadly the procedure for petitioning the court to make a winding-up order on the just and equitable ground. Depending on...
Latest Restructuring & Insolvency Precedents
CASE NO: [insert case number][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY DIVISIONINSOLVENCY AND COMPANIES LIST, ROLLS BUILDING, LONDONORIN THE...
INSOLVENCY ACT APPLICATION NOTICECASE NO: [insert case number][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY DIVISIONINSOLVENCY AND COMPANIES...
Date [insert date of surrender]Parties1[insert name of Landlord] [of [insert address] OR incorporated in England and Wales with company registration...
Applicant(s): [insert initials and surname] [insert number of witness statement eg 1st] Exhibit: [insert exhibit description] Date: [insert date of...
Applicant(s): [insert initials and surname]: [insert number of witness statement eg 1st] Exhibit: [insert exhibit description]: Date: [insert date of...
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
Caveats
This is a process lodged at courts in Scotland which can provide a person with notice'>advance notice of applications for winding-up; bankruptcy petitions issued in Scotland or orders for interim interdict (injunction)
Creditors’ voluntary liquidation (CVL)
Voluntary process to wind up company, an alternative to liquidation'>Compulsory liquidation.
Judicial sale
A judicial sale is a court‑ordered sale of property, typically used to enforce security, satisfy a judgment debt or realise assets in insolvency or enforcement proceedings. The court directs that specified assets (often land, ships, or other high‑value property) be sold, usually by auction or tender, and oversees or approves the process and distribution of sale proceeds.
Across England and Wales, Scotland, Northern Ireland and Ireland, “judicial sale” is a descriptive term rather than a single codified concept, and its detailed mechanics derive from a mixture of statute, court rules and case law in specific contexts (for example, mortgage repossession, admiralty actions in rem, execution against goods, or winding‑up and bankruptcy).
Key features commonly include: an order for sale made by a competent court; procedures designed to obtain best price reasonably achievable; protection of priority creditors, encumbrancers and bona fide purchasers; and discharge or transfer of interests on completion. Judicial sale is significant in practice for enforcing secured lending, maritime claims, judgment enforcement and insolvency realisations, and for providing buyers with enhanced title certainty due to the court’s supervisory role.
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