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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.
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This week's edition of Restructuring & Insolvency weekly highlights includes: the sanction of Waldorf Production UK Plc’s restructuring plan, an...
The Insolvency Service has reported that Suzanne Harley-Davies has been disqualified as a company director for four years after failing to exercise...
The LexisNexis Restructuring & Insolvency practical guidance team has published a new Practice Note: ‘Hunkemöller International BV—LME deal debrief...
Restructuring & Insolvency analysis: In this case, the court granted an urgent creditors’ application (the administration application) for the...
Restructuring & Insolvency analysis: The High Court refused to set aside a statutory demand founded on an unpaid costs order, holding that no...
This Practice Note provides a summary of the UK GDPR regime. For a higher-level introduction to UK data protection laws, see Practice Note: Data...
This Practice Note provides further guidance on key definitions used in the United Kingdom General Data Protection Regulation, Assimilated Regulation...
FORTHCOMING CHANGE: This Practice Note reflects the current legislative position, however, note that certain elements may be impacted by the Digital...
Part 26A restructuring plans have been available since 26 June 2020 (see Practice Notes: Part 26A restructuring plans: history, rationale and scope...
Waldorf CNS (I) Limited applied successfully for a Part 26A restructuring plan (RP) at a sanction hearing in the Court of Session in Scotland in April...
Conditional fee agreement for use with an insolvency office-holder on or after 6 April 2016This Agreement is made on [date]Parties:1[Company Name]...
This Deed is made on [insert day and month] 20[insert year]Parties1[insert name of Lender] of [insert address] (the Lender); and2[insert name of...
CASE NO: [insert case number][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS OF ENGLAND AND WALESINSOLVENCY AND COMPANIES LIST (ChD)ORIN THE...
Applicant(s): [insert initials and surname]: [insert number of witness statement eg 1st] Exhibit: [insert exhibit description]: Date: [insert date of...
[insert name, address and contact details/reference of author][insert date]To: [insert the name of the person or company to whom the letter is...
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 notesThe terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be...
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 debtThe range of funding options open to companies has exploded, resulting in a vast...
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 paymentA demand for payment is a formal demand made in accordance with the contractual requirements underpinning the...
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 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)Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act...
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 madeCoronavirus (COVID-19)This content is affected...
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 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 madeThis Practice Note sets out guidance as to what happens...
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 1986It is possible for a claim to be brought under section 423 of the...
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 expensesThis Practice Note provides an overview of what amounts to an administration expense and discusses key case law.Expenses of an...
Refers to debtor-in-possession restructurings under Chapter 11 of the US bankruptcy code.
A licensed insolvency practitioner appointed on the granting of a winding-up order in Scotland
The process by which a company's assets are realised for the benefit of its creditors.