The Insolvency Service reports the prosecution of a Devon taxi driver for significant bounce back loan (BBL) fraud, resulting in a sentence period for two years and seven months. The taxi-driver, Murat Dogantekin fraudulently obtained two £50,000 loans by overstating his annual turnover by £388,500, when he was only entitled to £4,125 under the scheme. The funds were subsequently transferred to an offshore account and a family member, with no repayments made prior to Dogantekin's bankruptcy in November 2021.

The Insolvency Service has published its report into concerns about take-on practices for Individual Voluntary Arrangements (IVAs). Of the 310 randomly selected IVAs, 60% revealed poor practice by providers. The Insolvency Service is working closely with the market’s regulators to improve this outcome.

The Insolvency Service has published its monthly company and individual insolvency statistics for July 2026 for England and Wales. The data shows that there were 1,931 company insolvencies, 5% higher than in June 2026 (1,847) but 5% lower than the same month in the previous year (2,031 in July 2025). For individuals, the total number of insolvencies in July 2026 was 11,926, similar to June 2026 but 14% higher than in July 2025.

The Insolvency Service has announced that a builder has received a suspended sentence after breaching his disqualification and illegally managing three building companies in Staffordshire. The builder, Michael Ashton, was sentenced to 18 weeks imprisonment, suspended for 12 months, ordered to carry out 60 hours of unpaid work and pay costs of £2,500 at Stoke-on-Trent Crown Court on 20 January 2021.

Corporate Crime analysis: On 16 July 2025, the Insolvency Service launched its Investigation and Enforcement Strategy 2026 to 2031 (‘the Strategy’). The agency’s self-proclaimed ‘ambitious’ five-year strategy aims to tackle economic crime and improve corporate standards. Mohamed Naleemudeen and John Binns of BCL Solicitors LLP explain how the Strategy emphasises the Insolvency Service’s role as a prosecuting agency, its increasing focus on enforcement and its capabilities to tackle economic crime facilitated though companies and by directors.

An order of the court declaring the estate of a deceased person insolvent.

The formal court document by which one seeks the making of an insolvency administration order in relation to the estate of a deceased person.

Arbitration analysis: The Bordeaux Court of Appeal upheld French jurisdiction over a claim by Sea Tankers Management (STM)’s liquidator for the wrongful termination of ship management contracts despite the presence of arbitration clauses therein. The liquidator sued Maltese entities of the [Localité 12] Group, alleging that their tortious conduct, including the wrongful termination of these contracts, caused STM’s insolvency. The court found the arbitration clauses to be ‘manifestly inapplicable’ under Article 1448 of the French Code of Civil Procedure because the dispute fell outside their scope. The court considered that the dispute was based on tort (Article 1240 of the French Civil Code), not contract, and that the liquidator was acting on behalf of the creditors (third parties to the contracts) rather than STM itself. The decision highlights how, under French law, a liquidator’s dual capacity can limit the effect of arbitration clauses in cross border insolvency cases, especially when claims involve creditor interests. Written by Veronika Timofeeva, senior associate at Freshfields, and Mathilde Allard, Associate at Freshfields.

Restructuring & Insolvency analysis: Insolvency and Companies Court (ICC) Judge Greenwood made this decision in respect of a contested winding-up petition and two applications to set aside statutory demands (the applications), substantively in respect of the same debt owed by Martin Dawn Plc (the company) and Mr Ronald Martin (Mr Martin) to McLaren Construction Ltd (the petitioner). The court held that the debt was not substantially disputed and the cross-claims advanced by the company and Mr Martin were unarguable. Therefore, the court set aside the applications and ordered the company to be wound up. Written by Promit Chatterjee, barrister at Maitland.

ARCHIVED: This Practice Note has been archived and is not maintained This Practice Note reflects the law and practice as at December 2022. It has been archived and is no longer maintained. It is provided for background information only. Cryptoassets—the basics In its simplest form, cryptoassets are a virtual currency which uses encryption to verify transactions denominated in that currency. It is a decentralised, near-instantaneous, and anonymous form of currency, independent of the traditional banking system. For further reading on the formation of cryptoassets, see: • Fintech—overview • Cryptoassets—overview • Practice Note: Web 3.0, digital assets and cryptoassets—essentials Insolvency and restructuring in the context of cryptoassets This Practice Note considers some of the issues that an insolvency professional (including an insolvency practitioner (IP)) might face if appointed to deal with a cryptoasset-related insolvency. This Practice Note does not consider the implications of cryptoassets in a personal bankruptcy scenario. It is widely acknowledged that legal and regulatory oversight of cryptoassets is somewhat behind the curve. Having said that, legislators and regulators have

Restructuring & Insolvency analysis: In this trial, Insolvency and Companies Court Judge Prentis reiterated the responsibilities of directors to keep and—when required—produce appropriately detailed copies of the company’s books and records. However, the judgment also provided an important delineation of this duty with respect to the dates during which the defendant was a director or fiduciary. The judgment also demonstrates the judicial approach to a number of different claims for breach of duty where there is no clear documentary evidence either for or against the claim, and where witnesses are found to be of variable reliability. Written by Ali Tabari, barrister at St Philips Chambers.

Restructuring & Insolvency analysis: The judge-made rule against double proof in an insolvent estate (sometimes referred to as the rule against receipt of two dividends) is not immutable. It has now been modified to avoid potential unfairness caused by its rigid application in a particular situation. Where (1) a surety has made a part payment of a debt owed by the insolvent principal debtor and, crucially, (2) released its right to an indemnity against that principal debtor then, notwithstanding that the creditor has not recovered payment of its debt in full, the creditor must, when proving in the insolvent estate, give credit for the part payment made by the surety. Written by James Morgan QC, barrister at Radcliffe Chambers.