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Restructuring GlobalView
With the anticipated appeal in Novalpina having been heard at the end of last month, practitioners will be watching closely to see what the courts have in store for solvent liquidations. In particular, there remains considerable interest in whether the first instance findings concerning the requirement to pay all debts, together with statutory interest, within...... Continue Reading
July 2026 | Blog
Publication
July 2026
The Insolvency Service has launched its Second Review of the Insolvency (England and Wales) Rules 2016 and the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018. While this is formally a statutory post-implementation review, it is much more than a box-ticking exercise. The consultation provides an opportunity to influence how insolvency processes operate in...... Continue Reading
In Cross Transport Ltd (In Administration) [2026] EWHC 1636 (Ch) the Court was asked to consider the “super priority” status afford to protected moratorium debts in the context of a subsequent administration. The Insolvency Act 1986 requires a company, entering a moratorium, to pay certain debts that are incurred during the moratorium period (“moratorium debts”), ...... Continue Reading
In NOAL SCSp v Novalpina Capital LLP [2025], the court took a strict view of the statutory requirement that companies entering a member’s voluntary liquidation (MVL) must be able to pay all their debts (including contingent or disputed ones) within 12 months. That mattered because, in practice, some insolvency professionals understood the legislation to mean...... Continue Reading
The case of Currie & Anor v Fission Recruitment Services Ltd [2026] EWHC 1369 (Ch) (13 March 2026) is (we think) the only case to provide an example of what amounts to substantial injustice, such that a defect in the administration appointment process could not be remedied under r12.64 of the Insolvency Rules 2016. The...... Continue Reading
June 2026 | Blog
Ahead of the Insolvency Rules Review expected this summer, the Insolvency Service have published a new statutory instrument (SI) that will come into force on 22 June. This seeks to tidy up a few of the “niggles” found in the Insolvency Rules 2016 (Rules) that have caused practitioners a headache, as well as making a...... Continue Reading
When Waldorf Production UK Plc returned to court with its second restructuring plan in a year, the primary opposition it faced was from HMRC who voted against the plan. Mr Justice Green ultimately sanctioned the plan, cramming down the liabilities owed to HMRC but the judgment provides some helpful insight into the position taken by...... Continue Reading
May 2026 | Blog
May 2026 | Europe
The Renters Rights Act 2025 (Act), which came into force on 1 May 2026 aims to give private tenants greater security and protection from eviction, in many respects aligning the position with business tenants who are in occupation under a protected business tenancy. For insolvency practitioners (IPs) appointed as administrators or liquidators of a business...... Continue Reading
April 2026 | Europe
There is something to be said for “assume the worst” when it comes to defects in administration appointments and extensions. The court has taken this approach in a few cases where, rather than trying to work out the intricacies and effect of a defect on an appointment or extension, it has assumed the worst (i.e...... Continue Reading
April 2026 | Blog
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