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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 and Insolvency weekly highlights includes: an analysis of an application to restrain the presentation of...
The Insolvency Service reports the disqualification of Anna Daroy, former Director General of the Institute of Directors (IoD), from serving as a...
The LexisNexis Restructuring & Insolvency practical guidance team has published a new Flowchart—‘Wrongful trading claims under sections 214 and 246ZB...
The Insolvency Service has announced a confiscation order mandating a Yorkshire scaffolding company director to repay £115,000 in fraudulently...
The County Court at Central London (CCCL) has published an updated Guidance to Business and Property Work at Central London (July 2025). The guide...
Just and equitable winding-up—the procedureThis Practice Note considers broadly the procedure for petitioning the court to make a winding-up order on...
An insolvency office-holder's guide to fraud and asset recovery claimsIt is axiomatic that corporate insolvency can often lead to fraud claims.The...
Cross-Class Cram Down under a Part 26A restructuring planThe Corporate Insolvency and Governance Act 2020 introduced Part 26A of the Companies Act...
Transactions at an undervalue under section 339 of the Insolvency Act 1986A transaction at an undervalue (TUV) claim can only be brought by a trustee...
Part 26A restructuring plan—key casesPart 26A restructuring plans have been available since 26 June 2020 (see Practice Notes: Part 26A restructuring...
Draft order declaring that a transaction is void under section 284 of the Insolvency Act 1986CASE NO: [insert case number][IN THE HIGH COURT OF...
Draft order for a wrongful trading claim under sections 214 and 246ZB of the Insolvency Act 1986CASE NO: [insert case number][IN THE HIGH COURT OF...
Draft order on an application to unwind a preference or transaction at an undervalueCASE NO: [insert case number][IN THE HIGH COURT OF JUSTICEBUSINESS...
Witness statement in support of a fraudulent trading application under sections 213 and 246ZA of the Insolvency Act 1986While both liquidators and...
Witness statement in support of an application to unwind a preference or transaction at an undervalueApplicant(s): [insert initials and surname]:...
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...
A person authorised by a regulated body to take appointments in the insolvency of individuals or companies. Also referred to as an office holder.
The process by which documentation is sent to interested parties
The trustee's dealings with the estate. The Account of Intromissions is simply a statement of what the trustee has done with the debtor's estate