What is the Central Registry of Winding-up Petitions? The Central Registry of Winding-up Petitions (the Central Registry) is a computerised register of winding-up petitions and administration applications which is maintained for all petitions or applications presented to either the Insolvency and Companies List (formerly known as the Companies Court), a Chancery District Registry or the County Court. A search at the Central Registry should reveal: • any petition or order for the winding-up of a company made in England and Wales, and • any administration application, order or appointment (including out-of-court appointments and intentions to appoint) filed in England and Wales The Central Registry was set up because of the danger of winding-up petitions being issued twice, primarily due to the fact that jurisdiction to issue these petitions is wide. The court should be informed of any prior pending petitions before making a decision on a current petition. A petitioner who presents a second petition where there is a prior pending petition does so at risk as to costs—see para 9.2

The Insolvency Service reports on the shutting down of Advantia Card Ltd (registered in the UK) for supplying German consumers with fraudulent prepaid cards without their prior consent, followed by demands of repayment through employing the services of a debt collection agency. The firm received more than 190 grievances from members of the public in Germany and following investigations conducted by the Federation of German Consumer Organisations, was shut down on 28 January 2025 after a hearing at the High Court in London.

The Insolvency Service has announced the maximum 15-year disqualification of 61-year-old Kevin Morris (also known as Kevin Gordon Sykes), which prevents him from directly or indirectly becoming involved in the promotion, formation, or management of a company without the permission of the court. The ban comes after he was found to be a de facto director of Rigil Kent Acquisitions Limited (RKAL) while being previously disqualified from acting as a director, as well as deliberating undermining the insolvency regime through RKAL’s dishonest activities. RKAL’s website described the company as offering ‘Unlicensed Insolvency Practitioners’, a role which the Insolvency Service confirms does not exist. As a breach of disqualification is a criminal offence, Morris’ latest disqualification has been passed to the Director of Public Prosecutions to consider further action.

General A set-off is the right of one party, Party A, who is owed money by another party, Party B, to ensure payment by setting off the amount owed through a reduction of Party A’s liability to Party B under a separate dealing. Thus, where a creditor and a debtor have had mutual dealings, the creditor is entitled to set-off against the debt which they are owed any sum which they owe to the debtor. The rules of administration set-off and liquidation set-off are contained in Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, rr 14.24 and 14.25, respectively. The rules of bankruptcy set-off are found in section 323 of the Insolvency Act 1986 (IA 1986). Under insolvency set-off, an account shall be taken of what is due from each party to the other in respect of the mutual dealings and the sums due from one party to another shall be set-off against the sums due from the other. Set-off affects the substantive rights of the parties and will reduce or extinguish a debt such

The statutory set-off regime applicable during insolvency, at which time certain mutual debits and credits are set against each other automatically. Parties may not agree to exclude insolvency set-off. Other rights of set-off may not be exercised.

'Caveat emptor', meaning 'let the buyer beware', is a common law principle meaning the seller is under no duty to disclose material facts to a prospective buyer and it also applies in insolvency transactions. See Practice Notes: Property—enquiries before contract, Pre-contract searches and Types of environmental investigations. Responsibilities The responsibility for compliance with environmental law rests with a company, whether it is insolvent or not. However, it is important to identify the accountability of the insolvency practitioner and lender in the event of a company becoming insolvent as the office-holder can become liable. Insolvency practitioners need to understand the environmental obligations of a company before accepting any appointment, and lenders involved need to understand potential liabilities that may be present. Aside from financial and company registration requirements for directors on maintaining financial stability, additional provisions are also required under environmental legislation such as the need to obtain an environmental permit. As such, any transaction should include a review, by an environmental professional, to establish

Restructuring & Insolvency analysis: The court held that six declarations of trust (DoTs) executed by the transferor (Mr Dixon) in favour of his wife (Mrs Dixon) constituted transactions defrauding his creditors within the meaning of section 423 of the Insolvency Act 1986 (IA 1986) and that two of them, purporting to transfer all his future assets and income to Mrs Dixon, along with an accompanying loan agreement, were shams which were void and ineffective. It set aside the DoTs and ordered Mrs Dixon to restore the value of three transferred properties (which had been converted into £551,589 cash) to Mr Dixon’s trustees in bankruptcy (trustees) together with interest of £101,726. It also ordered an account to be taken of the funds that had been transferred to Mrs Dixon or on her behalf by Mr Dixon over the seven years between the date of the DoTs and his bankruptcy. The court dismissed Mrs Dixon’s defence of change of position to the trustees’ claim for restoration, finding that even if such a defence were generally available (which is unclear), she had not acted in good faith and could not rely on it. It also dismissed her defence that, having been married to Mr Dixon for many years, she was entitled to half his assets and/or an entitlement to a share of them by virtue of a right to be maintained. Written by Jonathan Lopian, barrister at New Square Chambers, who acted for the successful claimants.

Restructuring & Insolvency analysis: The Court of Appeal held that HMRC, when applying without notice for an order appointing provisional liquidators, must give an unlimited cross-undertaking in damages as they are not acting in a law enforcement capacity. Written by Timothy Harry, barrister at Maitland Chambers, and Ben Elliott, barrister at Pump Court Tax Chambers.

The Insolvency Service has announced that it and the Official Receiver has continued to assist former Postmasters impacted by Horizon by acting as trustees in bankruptcy. It has announced it is also working closely with the Post Office and the Department for Business and Trade to ensure that claims for compensation are paid as quickly as possible. Between 1999 and 2015, a number of Postmasters experienced shortfalls in cash and stock in relation to the data produced by Horizon, which was the former accounting system used by the Post Office. Postmasters were required to make good the shortfall where in some cases this led to bankruptcy.

The Insolvency Service has published its monthly insolvency statistics for April 2026 on company and individual insolvencies in England and Wales. The data shows that there were 2,085 company insolvencies, 2% higher than in March 2026 (2,037), and 3% higher than the same month in the previous year (2,028 in April 2025). For individuals, the total number of insolvencies in April 2026 was 10,920, 10% lower than in March 2026 and 7% higher than in April 2025.

The Insolvency Service has released its monthly insolvency statistics for December 2024 on company and individual insolvencies in England and Wales. The data illustrates that there were 1,838 company insolvencies, 6% lower than in November 2024 and 14% lower than in December 2023. For individuals, the total number of insolvencies in December 2024 was  10,050, alike to November 2024 and 23% higher than in December 2023.

The Insolvency Service has published its monthly insolvency statistics for October 2024 on company and individual insolvencies in England and Wales. The data shows that there were 1,747 company insolvencies, 10% lower than in September 2024 and 24% lower than in October 2023. For individuals, the total number of insolvencies in October 2024 was 8,952, 14% lower compared to September 2024 but alike to October 2023.