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    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
    Insolvency Rules 2016 - Application for income payments orders and income payments agreements
    2017-04-26

    The rules relating to income payment orders ("IPO") and income payment agreements ("IPA") are largely unchanged. The time periods dictated in the old rules for IPOs and IPAs remain the same, however there are some added requirements in the new rules, particularly in relation to the contents of notices and orders.

    Rule 10.109 Application for income payments order (section 310)

    […]

    (4) the notice to the bankrupt must be authenticated and dated by the trustee.

    Rule 10.110 Order for income payments order

    Filed under:
    United Kingdom, Insolvency & Restructuring, Ashfords LLP
    Authors:
    Olivia Bridger
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Insolvency Rules - Disclaimer
    2017-04-03

    Disclaimer - Rules 19.1 - 19.11

    The Rules relating to Disclaimer remain largely unchanged, except for bankruptcy and liquidation being included in the same section and some minor updates to the Act. The deadlines for all actions remain unchanged.

    19.8 - Application for permission to disclaim in bankruptcy (section 315(4))

    The notes in this section refer to changes within the Act as amended by the Deregulation Act 2015 and the Enterprise and Regulatory Reform Act 2013.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Real Estate, Ashfords LLP
    Authors:
    Olivia Bridger
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Cross Border Restructuring and Insolvency Update - January 2017
    2017-01-27

    ENEFI Energiahatékonysági Nyrt v Directia Generala Regionala a Finantelor Publice Brasov (DGRFP) [2016] All ER (D) 110 (Nov)

    The Court of Justice of the European Union ("ECJ") has handed down a notable judgment in the case of ENEFI Energiahatékonysági Nyrt v Directia Generala Regionala a Finantelor Publice Brasov (DGRFP) [2016] All ER (D) 110 (Nov), ruling that domestic laws governing forfeiture of a claim in insolvency proceedings apply to foreign creditors too.

    Filed under:
    European Union, India, Slovakia, United Kingdom, Insolvency & Restructuring, Litigation, Public, Ashfords LLP, Court of Justice of the European Union, Court of Appeal of England & Wales
    Authors:
    Alan Bennett
    Location:
    European Union, India, Slovakia, United Kingdom
    Firm:
    Ashfords LLP
    Hosking v Apax Partners LLP (unreported - 19 July 2016)
    2016-07-27

    The English Court refused an application by Liquidators to stay English proceedings pending the outcome of similar proceedings in the US.

    The Joint Liquidators of a Luxembourg company ("the Company") applied to stay English proceedings that they had brought against private equity investors ("the Defendants") until similar proceedings in the US had been resolved, or for three months to enable the Liquidators to raise finance for the litigation.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Ashfords LLP, Private equity, Fraud, Limited liability partnership, Personal jurisdiction, Debt, Involuntary dismissal, Refinancing, Default (finance), Insolvency Act 1986 (UK)
    Authors:
    Alan Bennett , Olivia Bridger
    Location:
    United Kingdom
    Firm:
    Ashfords LLP

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