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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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Latest Restructuring & Insolvency News
Restructuring & Insolvency analysis: In this case the court had to construe paragraph 3(1) of Schedule 6 to the Electricity Act 1989 (EA 1989) in...
The Insolvency Service has announced the closure of Furrry Pet Group UK Ltd following a High Court order in Manchester. The company's sole director,...
This week's edition of Restructuring and Insolvency weekly highlights includes: key announcements from the Spring Statement 2025 of relevance to...
Restructuring & Insolvency analysis: The joint liquidators of NMCN Plc (the Company) and its subsidiary NMCN Sustainable Solutions Ltd (together the...
In the Spring Statement 2025, on 26 March 2025, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, made several announcements of relevance...
Latest Restructuring & Insolvency Practice Notes
DeedsUnder English law, legally binding agreements can be made orally, in writing or by deed.This Practice Notice considers the circumstances in which...
Directors' disqualification orders in the criminal courtsA disqualification order is made to protect the public from those who, for reasons of...
Hague Convention on Choice of Court Agreements—scopeThis Practice Note considers the Hague Convention on Choice of Court Agreements which applies to...
Hague Convention on Choice of Court Agreements—jurisdictionThis Practice Note considers the application of the Hague Convention on Choice of Court...
Hague Convention on Choice of Court Agreements—enforcementThis Practice Note considers the Hague Convention on Choice of Court Agreements and its...
Latest Restructuring & Insolvency Precedents
Precedent H—costs budgetA costs budget must be in the form of Precedent H annexed to CPR PD 3D unless the court orders otherwise. It must also be in a...
Calderbank claimant settlement offer post-issue[ON YOUR LETTERHEAD]WITHOUT PREJUDICE SAVE AS TO COSTS[SUBJECT TO CONTRACT][Insert date][Insert name...
Part 36 offer—claimant Part 36 offer letterNote: this precedent claimant Part 36 offer letter does not cover CPR 36 provisions that relate...
Calderbank claimant settlement offer pre-action[ON YOUR LETTERHEAD]WITHOUT PREJUDICE SAVE AS TO COSTS[SUBJECT TO CONTRACT][Insert date][Insert name...
Precedent instructions or brief to counsel[IN THE HIGH COURT OF JUSTICE[BUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [insert...
Latest Restructuring & Insolvency Q&As
Featured Restructuring & Insolvency content
Role, powers, functions and duties of a liquidator
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 made
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 notes
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 Registry
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 liquidation
Dissolution of a company following compulsory liquidation or creditors' voluntary liquidationDissolution marks the end of a company’s life. It...
Bankruptcy searches
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 Solicitor
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 insolvency
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 agreement
Key elements of a standstill agreementWhen restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of...
What are COMI proceedings?
Scotland: protected trust deeds
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?
What is considered onerous property or contracts?DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee...
Recapitalisations
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 administrator
Role, powers, functions and duties of an administratorThe role, powers and duties of an appointed administrator are set out in the Insolvency Act 1986...
How do you convert inter-company debt into equity? What are the advantages and disadvantages for the company and its shareholders?
The effect of a bankruptcy order on an individual voluntary arrangement (IVA), its assets, and the creditors
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 2016
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 framework
Schemes of arrangement—process and statutory frameworkSchemes of arrangement—definition and basis in statuteA scheme of arrangement is a...
Associated legal terms
Ranking agreements
An agreement between secured creditors as to the ranking of their security and debt, which usually also provide for agreed enforcement restrictions. Under Scots law, these will constitute an amendment of the security itself, and as such are registerable against the security at Companies House. Even where English deeds affect priority of security, they are not subject to registration requirements
Reponing
The process for recalling a decree (judgement) which has been granted in absence
Sederunt book
The official and permanent record of the sequestration process maintained by the trustee
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