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    Insolvency Rules 2016 - Debt Relief Orders
    2017-04-27

    The procedure for Debt Relief Orders ("DRO") is unchanged, possibly because it is a comparatively new process having only come into force in 2009. However there has been some shuffling of rules numbers, in an effort to regularise and make the structure more logical.

    Eligibility

    To be granted a DRO, the debtor:

    Filed under:
    United Kingdom, Insolvency & Restructuring, Ashfords LLP
    Authors:
    Katie Farmer
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Insolvency Rules 2016 - MVL's
    2017-04-03

    MVL's are dealt with in Part 5, chapters 1 and 2 of the new rules so, if you're sitting comfortably, I'll begin.

    r.5.1 sets out the additional requirements to those in s.89 IA

    Filed under:
    United Kingdom, Insolvency & Restructuring, Ashfords LLP
    Authors:
    David Pomeroy
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    The High Court considers questions relating to the location of three companies' COMIs and an alleged "improper motive" regarding the appointment of administrators
    2017-02-22

    (1) SIMON ROBERT THOMAS (2) ARRON KENDALL v (1) FROGMORE REAL ESTATE PARTNERS GP1 LTD (2) LINDA NICHOL (3) CHARLES SPARY (4) STUART JENKIN (5) NATIONWIDE BUILDING SOCIETY : (1) FROGMORE REAL ESTATE PARTNERS GP1 LTD (2) LINDA NICOL (3) CHARLES SPARY (4) STUART JENKIN v (1) SIMON ROBERT THOMAS (2) ARRON KENDALL (3) NATIONWIDE BUILDING SOCIETY sub noms (1) IN THE MATTER OF FREP (KNOWLE) LTD (IN ADMINISTRATION) (2) IN THE MATTER OF FREP (ELLESMERE PORT) LTD (IN ADMINISTRATION) (3) IN THE MATTER OF FREP (BELLE VALE) LTD (IN ADMINISTRATION) [2017] EWHC 25 (Ch)

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Ashfords LLP, Insolvency Act 1986 (UK)
    Authors:
    Rachel Maddocks , Alan Bennett
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Re 19 Entertainment Ltd [2016] EWHC 1545 (Ch)
    2016-07-27

    The English Court granted recognition of Chapter 11 proceedings in relation to a company that was incorporated in the UK but had its centre of main interests ("COMI") in the United States, confirming that the Directors were foreign representatives for the purpose of the Cross Border Insolvency Regulations 2006 ("the Regulations").

    Filed under:
    Global, United Kingdom, USA, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Ashfords LLP, Bankruptcy, Debtor, Board of directors, Moratorium (law), UNCITRAL, High Court of Justice, Trustee
    Authors:
    Alan Bennett , Emma Clayton
    Location:
    Global, United Kingdom, USA
    Firm:
    Ashfords LLP
    UK: increase in the Official Receiver's deposit in bankruptcy and winding up petitions
    2015-11-25

    The costs of presenting a bankruptcy or winding up petition in the UK have increased from 16 November 2015, under the Insolvency Proceedings (Fees) (Amendment) Order 2015. The Official Receiver's deposit, which is paid to the Insolvency Service to cover a proportion of the OR's fees in the event a Bankruptcy Order or Winding Up Order is made, will rise for creditors' bankruptcy petitions from £750 to £825 and for compulsory winding up petitions from £1,250 to £1,350. The deposit will remain unchanged for debtor's own bankruptcy petitions.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Ashfords LLP
    Authors:
    Alan Bennett
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Global Corporate V Hale Appeal Decision
    2018-11-28

    To no great surprise, the Global Corporate v Hale appeal decision has gone against the director. The Court of Appeal handed down the eagerly awaited judgment on 27 November 2018.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Ashfords LLP, Dividends
    Authors:
    Katie Farmer
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    K: New Insolvency Practice Direction 2018 now in force
    2018-06-14

    The new Insolvency Practice Direction came into force on 25 April 2018. Some of the key changes to the Practice Direction include: 

    Filed under:
    United Kingdom, Insolvency & Restructuring, Ashfords LLP
    Authors:
    Alan Bennett
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Carry on Carillioning
    2018-03-23

    The saga of Carillion's collapse continued this month, as it transpired that accountancy giants EY had prepared plans to restructure the troubled construction firm as early as mid-December 2017.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Ashfords LLP, Carillion
    Authors:
    Connor Pierce
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Stevensdrake Limited (trading as Stevensdrake Solicitors) -v- Hunt [2017] EWCA Civ 1173 CA
    2018-01-23

    The Facts

    Stevensdrake Limited, a law firm, made a claim against a Liquidator for fees owing under a Conditional Fee Agreement (CFA) made between the two on 10 April 2008. The parties had worked together on various insolvency matters for many years.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Legal Practice, Litigation, Ashfords LLP, Court of Appeal (England and Wales)
    Authors:
    Cathryn Kozlowski
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Qualifying decision procedures
    2017-09-29

    This article was first published in The Gazette, and the original article can be found online here.

    The implementation of the Insolvency Rules 2016 has introduced a number of changes to the procedures in insolvency regimes.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Ashfords LLP
    Authors:
    Katie Farmer
    Location:
    United Kingdom
    Firm:
    Ashfords LLP

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