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.
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 Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024 (SI SI 2024/1157) were laid in Parliament on 14 November 2024. The...
This week's edition of Restructuring & Insolvency weekly highlights includes: an analysis of the test to be applied when ascertaining an individual’s...
Family analysis: This judgment shows the court adopting a highly structured approach to the determination of questions of property law prior to the...
The Financial Stability Board (FSB) has issued a public statement underscoring the importance of resolution planning and loss-absorbing capacity (LAC)...
The Insolvency Practitioners (Amendment and Transitional Provisions) Regulations 2024 make significant reforms to the Insolvency Practitioner bonding...
Useful websites for restructuring & insolvency lawyersIndustry bodiesThe Insolvency ServiceInstitute of Chartered Accountants of England and...
Enforcing standard security—ScotlandThis Practice Note considers enforcement of standard security over heritable property in Scotland.Legal...
Part 26A restructuring plans—processKey steps and timetablesThe restructuring plan (RP) process largely mirrors that used in schemes:For cases where...
The 14-day rule and adoption of employment contracts in administration and administrative receivershipThe position of an employee on a company's...
Loan to value covenantsThis Practice Note looks at:•the key features of loan to value (LTV) covenants in secured lending transactions•possible issues...
Executing documents—training materialsThese Training Materials provide an introduction to execution and cover the principal areas of executing simple...
Part 26A restructuring plan Practice Statement Letter (PSL)IMPORTANT NOTICE FROM [insert name of Company]THIS LETTER REQUIRES YOUR IMMEDIATE AND...
Witness statement in support of an application for a Part 26A restructuring planOn behalf of: ApplicantBy: [insert name]No: 1Exhibits: [insert...
Demand letter—guarantor[To be printed on headed notepaper of the lender making demand]To: [Insert name of individual and/or position][insert name of...
Appointment of LPA/fixed charge receiverDate [insert date of appointment]Parties1[insert name of Lender] of [insert address] [incorporated in England...
Role, powers, functions and duties of a liquidatorThe role and function of a liquidatorA liquidator is the officer appointed when a company goes into...
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeCoronavirus (COVID-19)This content is affected...
Bonds and notesThe terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be...
Obtaining Official Copies from HM Land RegistryThis Practice Note provides guidance in obtaining official copies of the entries on the title of a...
Dissolution of a company following compulsory liquidation or creditors' voluntary liquidationDissolution marks the end of a company’s life. It...
Bankruptcy searchesBankruptcy searches at the Land Charges DepartmentWhen a bankruptcy petition is presented by a creditor, the court shall as soon as...
Dissolution and bona vacantia—dealing with the Treasury SolicitorBona vacantia means ‘goods without an owner’ and is a relevant consideration where...
Cashflow and balance sheet tests for insolvencyIntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and...
Key elements of a standstill agreementWhen restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of...
Scotland: protected trust deedsTrust deeds have, for many years, been utilised by debtors as a means of reaching a compromise with their creditors as...
What is considered onerous property or contracts?DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee...
RecapitalisationsThe term 'recapitalisation' refers to a company changing the proportions of its debt and equity, something which can be achieved in a...
Role, powers, functions and duties of an administratorThe role, powers and duties of an appointed administrator are set out in the Insolvency Act 1986...
The effect of a bankruptcy order on an individual voluntary arrangement (IVA), its assets, and the creditorsThe gap in the insolvency legislationIt is...
The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary...
Schemes of arrangement—process and statutory frameworkSchemes of arrangement—definition and basis in statuteA scheme of arrangement is a...
The order issued by a sheriff following a petition lodged by a creditor or by the AiB following an application for sequestration by the debtor declaring a person to be bankrupt and sequestrating their estate. The Award vests the debtor’s estate in the trustee
A digital signature is an electronic signature produced using encryption technology. It is therefore a sub-category of electronic signature. Computer code representing the digital signature is inserted into, or attached to, the document being signed and serves as the electronic signature.
A court order authorising the petitioning creditor to cite the debtor to appear in court on a stated date to show that grounds for sequestration no longer exist. If the debtor fails to appear or fails to show that they should not be sequestrated, sequestration will be awarded effective from the date the order was granted