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About Restructuring & Insolvency Law

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Brexit

Brexit is a significant subject for R&I lawyers due to the reciprocal nature of our relationship with Europe. Our Brexit content offers key information and updates for all practitioners, as well as legislation trackers.

Corporate Insolvency and Governance Act 2020

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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Get country guides for 45 jurisdictions – the majority are from our Getting the Deal Through series. Where there are jurisdictional gaps, we have commissioned content, and have created several comparison tables.

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Associated legal terms

Floating charge (or Bond and Floating Charge)

Scotland uses a stand-alone floating charge, rather than including a floating charge in a debenture. The Bond refers to the debt obligation for which the security is given, and if not provided for in the floating charge document there needs to be a separate personal bond document. Often, however, the floating charge is drafted to include a bond, and so referred to as a bond and floating charge. Unlike England, it is possible to have a floating charge over the same assets at the same time as a fixed charge (eg Standard Security). This means that where a borrower provides an English debenture but has assets in Scotland, the wording of an English debenture floating charge needs to be checked to make sure it is compliant with Scots law floating charges

Interdict

These are Scots law injunctions. They are similar in nature and effect to English freezing and mandatory injunctions

Interim attachment

Process (similar to diligence on the dependence) which restricts the debtor's ability to deal with a limited range of moveable assets in their possession while a court action progresses
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