This Practice Note sets out certain key cases and associated relevant content relating to section 365 of the Insolvency Act 1986 (IA 1986) which provides a search and seizure remedy in respect of any property comprised in a bankrupt’s estate and/or any books, papers or records relating to the bankrupt’s estate or affairs which are required to be delivered up to the office-holder. The cases are divided by topic area and include: • the bankrupt’s duties • content of the application • full and frank disclosure • test to be applied • the order • safeguards • the warrant For further reading on this topic, see Practice Notes: • Basic principles—the delivery-up of information and property to the insolvency office-holder • Seizure of a bankrupt’s property under section 365 of the Insolvency Act 1986 The bankrupt’s duties Names of parties Judgment date Case summary Relevant content Re Djurberg (a bankrupt); Hyde v Djurberg [2022] EWHC 1534 (Ch), [2022] All ER (D)

This Practice Note considers section 365 of the Insolvency Act 1986 (IA 1986) which provides a search and seizure remedy in respect of any property comprised in a bankrupt’s estate and/or any books, papers or records relating to the bankrupt’s estate or affairs which are required to be delivered up to the office-holder. Given the draconian and wide-ranging nature of this provision, it is considered to be a remedy of last resort and is rarely used in practice. For key cases and associated relevant content, see Practice Note: Seizure of a bankrupt's property under section 365 of the Insolvency Act 1986—key cases. The bankrupt’s duties Various duties are imposed on a bankrupt to ensure that the statutory purposes of bankruptcy (including the collecting in, realisation and distribution to creditors of the bankruptcy estate) are attained. For example, the bankrupt is required to provide the official receiver with an inventory of their estate and other information which the official receiver may reasonably require. If a trustee in bankruptcy

The House of Lords Select Committee on the Constitution has published its first report of session 2023-24 on the Victims and Prisoners Bill, which had its second reading in the House of Lords on 6 December 2023 and is scheduled for the committee stage on 24 January 2024. In the report, the Select Committee has said that it is concerned that Clause 15 of the Bill, which requires the Secretary of State to issue guidance about independent domestic violence advisors and sexual abuse advisors ‘does not offer an adequate degree of parliamentary scrutiny’ and is an example of ‘disguised legislation’. It has said that the House may wish to query why guidance is being used for this provision as opposed to regulations, which would allow for parliamentary oversight. The Select Committee has also considered the Bill’s provisions relating to the requirement for the Secretary of State to appoint a standing advocate for victims of major incidents; provisions empowering the Secretary of State to direct the Parole Board to refer to the High Court or Upper Tribunal a decision to release on license a prisoner serving a life sentence and provisions which disapply section 3 of the Human Rights Act 1998.

The Select Committee on Statutory Instruments has published its ninth report of session 2023-2024. The report draws special attention to Post Office Compensation Schemes and Victims of Overseas Terrorism Compensation Scheme (Tax Exemptions and Relief) Regulations 2024, SI 2024/182 for defective drafting and to the Customs (Miscellaneous Amendments) Regulations 2024, SI 2024/194 for failure to comply with proper legislative practice.

The House of Lords Constitution Committee has published its 16th Report of Session 2024–26, on the English Devolution and Community Empowerment Bill. The Committee concludes that the Bill is of constitutional significance but does not raise significant constitutional concerns. However, it draws the attention of the House to provisions allowing the Secretary of State to establish a combined authority using a new statutory test based on securing ‘effective and convenient local government’. The Committee urges the House to satisfy itself that it is content to grant ministers such a broad and potentially subjective power. It also notes that parts of the bill apply to Wales and calls on the government to explain what consultation has taken place with the Welsh Government, even where legislative consent is not required.

The Select Committee on the Constitution has published its fourth report of session 2023-2024, on the Economic Activity (Overseas Matters) Bill. The Bill was introduced in the House of Commons on 9 June 2023 and brought to the House of Lords on 11 January 2024. The report considers freedom of expression, procedural fairness, financial penalties and devolution.

The House of Lords Select Committee on the Constitution has published its first report of session 2024—2025 on The Governance of the Union: Consultation, Co-operation and Legislative consent. The report evaluates the effectiveness of the new intergovernmental relations structures introduced in January 2022 and examines the observance of the Sewel convention. Key findings include concerns about the functioning of these new structures, issues with legislative consent, and the need for improved scrutiny. The Committee proposes several recommendations, including strengthening the Sewel convention, considering statutory footing for intergovernmental relations, and implementing a principle of positive engagement. The report also addresses the complexities surrounding secondary legislation and Henry VIII powers in the context of devolution.

The House of Lords Select Committee on the Constitution has published its first report of session 2026–27 on the Steel Industry (Nationalisation) Bill, which examines the Bill's constitutional implications. The Select Committee said the government should continue engaging with the devolved administrations to secure legislative consent and raised concerns about the Bill's extensive delegated powers. It recommended limiting the extension of the Bill's sunset clause, placing provisions on dispute resolution, appeals and tax modifications on the face of the Bill, and removing or significantly narrowing broad powers allowing Ministers to amend legislation by regulations.

The Selecta Group conducted a Liability Management Exercise (LME) in 2025. The key points appear below. For some FAQs on LMEs, see Practice Note: FAQs on Liability Management Exercises. Key legal and tactical takeaways This is an interesting example of a European hybrid LME structured using a Dutch share pledge enforcement followed by exchange offers to extend maturities to 2030. In practice, obtaining the Dutch court’s blessing to the initial share pledge enforcement helped smooth the way for this up-tiering LME (an exchange and an up-tier of New York law-governed instruments, leaving the English intercreditor unamended). This LME used a two‑step structure to separate actions across forums and over time, anchoring any European steps within a court‑supervised process. This sequencing arguably creates a separation both in time and documentation, potentially limiting the European nexus and mitigating against arguments that there had been an allegedly oppressive transaction (see Article: LMEs in European restructurings: local law constraints and evolving market practice: (2026) 3 JIBFL 147). However, it remains to be seen how the US courts will

[insert name] [insert name] [insert name] Dear [insert text]: 1 Registration under the Securities Act 1933, as amended (the Act), of the [insert number] shares of the common stock, par value $[insert amount] per share (the Shares), plus the over-allotment option available to the Underwriters to purchase up to an additional [insert number] Shares, of [insert name] (the Company), as more fully described in the Preliminary Prospectus, dated [insert date], 20[insert year] and in the final prospectus (the Prospectus) which will be forwarded to you, will become effective in the near future. We, as the Underwriters, are offering certain of the Shares for purchase by a selected group of dealers (the Selected Dealers) on the terms and conditions stated herein. Authorised Public Offering Price: $[insert amount] per Share. Dealers' Selling Concession: Not to exceed $[insert amount] per Share payable upon termination of this Agreement, except as provided below. We reserve the right not to pay such concession on any of the Share purchased by any of the Selected Dealers from us and repurchased by us at or below the price stated above

The age chosen by a personal pension plan member to draw retirement benefits.

This Practice Note sets out the factors that an in-house lawyer should consider when selecting an external law firm to advise in relation to a banking and finance transaction. It is written for in-house banking and finance lawyers working in banks or other financial institutions. It covers the selection of law firms from an existing legal panel, the circumstances where it might be appropriate to select an off-panel law firm and what to do where the bank or other financial institution in question does not have a legal panel. The Practice Note also sets out some general considerations that will apply to any proposed law firm selection, regardless of whether a legal panel is in place or not. For information on issues to consider when agreeing the engagement terms for the selected external law firms, see Checklist: Agreeing engagement terms with external law firms—a checklist for in-house banking and finance lawyers. Selection of external lawyers where a legal panel is in place Using the legal panel Most large banks