The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note—‘Removal of trustee in bankruptcy’. This Practice Note considers the removal of a trustee in bankruptcy from office by the court, creditors and the Secretary of State. It also discusses the trustee’s duties on vacating office and their release.

The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note—‘Requisitioned decisions'. This Practice Note considers requests by creditors in administration, liquidation and bankruptcy for an office-holder to seek a decision on a matter or to instigate a decision procedure to consider their removal from office. It discusses the requisitioning of a decision and the expenses and timing of the requisitioned decision.

Banking & finance analysis: The LexisNexis Banking & Finance practical guidance team has published a new Practice Note called ‘The Economic Crime and Corporate Transparency Act 2023—what Banking & Finance lawyers need to know’. This Practice Note considers the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023), which received Royal Assent on 26 October 2023. In particular, it looks at the changes that Banking & Finance lawyers need to be aware of. ECCTA 2023 seeks to deliver a wide range of reforms and enhancements relating to corporate transparency and the integrity of information held at Companies House. It is intended that the provisions of ECCTA 2023 will come into force over an extended period of time, allowing Companies House as well as companies themselves time to prepare. Many of the provisions will require detailed secondary legislation and guidance to implement the reforms. The first measures under ECCTA 2023 were introduced on 4 March 2024. Other measures in the Act, such as identity verification and accounts reform, will be introduced over a longer period. The Practice Note will be updated as more information is made available by the UK government and further secondary legislation has been put in place.

The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note: ‘The liquidation stay—key cases’. This Practice Note sets out certain key cases and associated relevant content on the liquidation stay and the factors the court will take into account when deciding whether to lift a liquidation stay.

The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note— ‘The monitor of a moratorium under Part A1 of the Insolvency Act 1986’. This Practice Note discusses the monitor of a moratorium under Part A1 of the Insolvency Act 1986, more particularly their status, monitoring during a moratorium, the provision of information to the monitor, applications by the monitor for directions, termination of the moratorium by the monitor and challenging a monitor.

Restructuring & Insolvency analysis: The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note called ‘The water industry and special administration—new regime’. This Practice Note looks at the new special administration regime governing water companies under the Water Industry Act 1991, the Water Industry (Special Administration) Regulations 2024 (in force from 14 March 2024) and under the Water Industry (Special Administration) (England and Wales) Rules 2024 (in force from 19 March 2024). The new regime allows rescue through modified forms of the Part 26A restructuring plan, schemes of arrangement or CVAs as well as transfers involving hive down.

The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note called ‘Third party litigation funding process for insolvency practitioners’, produced in partnership with Mark Sands of Apex Litigation Finance. This Practice Note discusses the third party litigation funding application process, the due diligence that is carried out by third party funders, recoverability considerations, the importance of budgeting, the usual funding inception timeline and reporting obligations.

This Practice Note tracks some key hearing dates listed in the High Court (Chancery Division) daily cause list for Part 26 schemes of arrangement, Part 26A restructuring plans and Part VII transfer schemes from 1 January 2024 onwards.

Restructuring & Insolvency analysis: The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note called ‘Transactions at an undervalue under section 238 of the Insolvency Act 1986’. This Practice Note considers transactions at an undervalue under section 238 of the Insolvency Act 1986, more particularly the requirements that need to be satisfied, the statutory defence, bringing a claim, the relief that may be granted, the protection provided to third parties, limitation and the assignment of claims.

The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note called ‘Transactions at an undervalue under section 339 of the Insolvency Act 1986’. This Practice Note considers transactions at an undervalue under section 339 of the Insolvency Act 1986, more particularly the requirements that need to be satisfied, bringing a claim, the relief that may be granted, the protection provided to third parties and limitation.

The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note—‘Challenge to administrator’s conduct of the company under paragraph 74 of Schedule B1 to the Insolvency Act 1986—key cases’. This Practice Note sets out certain key cases and associated relevant content in relation to the challenge of an administrator’s conduct of the company under paragraph 74 of Schedule B1 to the Insolvency Act 1986 on the basis that the administrator is acting, has acted or proposes to act so as to unfairly harm the interests of a member or creditor of the company.

Restructuring & Insolvency analysis: The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note called ‘Preferences under section 239 of the Insolvency Act 1986’. This Practice Note considers preferences under section 239 of the Insolvency Act 1986, more particularly the requirements that need to be satisfied, bringing a claim, the relief that may be granted, the protection provided to third parties, limitation and the assignment of claims.