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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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The Insolvency Service has published its annual review of the Insolvency Practitioner Regulation for 2024, outlining significant regulatory and...
The Insolvency Service has announced a 11-year directorship ban on Alan Bentley, former director of Bentley Global (UK) Limited, after the football...
The Insolvency Service has reported that Jagoda Rubaszko has been convicted for fraudulently obtaining a £50,000 coronavirus bounce back loan (BBL)....
The Insolvency Service has appointed its first crypto intelligence specialist to bolster digital asset recovery capabilities in bankruptcy and...
The Insolvency Service has announced the closure of UK Service Plan Ltd, following an investigation into its trading practices. The company's...
Insurers (Reorganisation and Winding-Up) RegulationsSTOP PRESSThe Financial Services and Markets Act 2023 (FSMA 2023) revokes the Insurers...
The process and effect of approval of a company voluntary arrangement (CVA)Consideration of the proposalWhat is the process of considering of the...
Getting in the company’s property under section 234 of the Insolvency Act 1986This Practice Note considers section 234 of the Insolvency Act 1986 (IA...
Insurance business transfer schemesConsistent with the common law of contract, an insurer is not able to transfer the burden of its obligations under...
Tracker of Part 26 scheme/Part 26A restructuring plan hearing dates 2025This Practice Note tracks some key hearing dates proposed or listed in the...
Claim form (CPR Part 8) in respect of an application for a restructuring planClaim No. [insert claim number].[IN THE HIGH COURT OF JUSTICE][BUSINESS...
Form of proxy in a restructuring plan: creditors/membersClaim No. [insert claim number].[IN THE HIGH COURT OF JUSTICE][BUSINESS AND PROPERTY COURTS...
Sanctioning order for restructuring planCourt Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICE][BUSINESS AND PROPERTY COURTS] [OF...
Witness statement to support application to sanction Restructuring PlanOn behalf of: applicantBy: [insert name]No: [insert statement number]Exhibits:...
Witness statement attaching report and meeting summary for restructuring planOn behalf of ApplicantBy: [insert name]Statement No 1Exhibits [insert...
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 civil servant acting as part of the insolvency service and officer of the court to which he is attached who performs a large range of functions in both corporate and personal insolvency.
The process for recalling a decree (judgement) which has been granted in absence
means distribute, disclose, store, use, analyse, copy, reproduce, extract, modify, or adapt in whole or in part.