Restructuring and Insolvency: Basic Concepts

A guide to Statements of Insolvency Practice (SIPs) including links to current and previous versions of SIPs, as well as creditors' guides under SIP 9.

A practice note explaining where to find EU law content from a topic page.

This note contains Companies House forms made under the Companies Act 2006. For information on Companies House forms produced under the Companies Act 1985, see Practice Note, Companies House forms pre 1 October 2009.

Suggested answers to some common questions asked by creditors of insolvent companies and companies in financial difficulties.

This note explains the environmental implications of restructuring a business.

This note reviews the provisions of the Financial Collateral Arrangements (No 2) Regulations 2003 (SI 2003/3226). It looks at the various matters that should be considered under the Regulations when either a security, stock lending or a repo arrangement is being entered into in respect of financial collateral such as cash, financial instruments (such as shares in companies and other tradeable securities such as bonds) or credit claims (loans made available by credit institutions).

A practice note on how to respond to the financial difficulties or insolvency of a company that owes you money, which considers how to press for payment from a distressed trading partner, key contractual issues and outlines the position of the unsecured creditor in an insolvency process.

A guide to preparing a report on the security package held by a bank over the assets of a company in financial difficulty.

This practice note stresses the importance of giving information to clients about costs. It summarises the requirements of the Solicitors Regulation Authority Code of Conduct 2011 (SRA Code 2011) and other legal requirements, and provides suggestions for how the best information on costs can be provided to a client retaining a solicitor for dispute resolution, at the outset and throughout the retainer. This note covers the requirements of the SRA Code 2011 (in force from 6 October 2011). For details of the previous applicable codes, see the old versions of this note, Practice notes, Informing the client about costs: at outset of retainer and beyond: July 2007 to 5 October 2011 and Informing the client about costs: at outset of retainer and beyond: pre 2007.

A practical guide for those who are seeking to bring or continue a claim against a company or individual which is, or is about to become, insolvent. This includes a summary of the statutory moratorium or automatic stay of proceedings that arise under the Insolvency Act 1986 when a company is in administration or liquidation respectively, and guidance on the court's approach on an application for leave to pursue a claim.

A note on the various types of quasi-legislation and how they should be treated.

A guide to the procedures for restoring a dissolved company to the register of companies, under Part 31 of the Companies Act 2006.

The learning curve for a trainee or a newly qualified solicitor arriving into a restructuring and insolvency team can be a steep one. To help those arriving into an R&I team and those putting together training materials for them, we have picked out some materials from the PLC Restructuring and Insolvency site. These materials will also be useful to those who have moved in house and find themselves having to get to grips with restructuring and insolvency law. Remember to arrange for any new recruits to get access to PLC Restructuring and Insolvency, and ensure they are signed up to receive the PLC Finance weekly and/or monthly e-mails. To do this, please e-mail info@practicallaw.com or contact your account manager on 020 7202 1220. If you do not subscribe to PLC Restructuring & Insolvency, see Request a free trial or call 020 7202 1220 to register your interest in a free trial.

This practice note provides guidance as to how the court will consider an application for security for costs on the ground that the claimant is an insolvent company (CPR rule 25.13 2 (c)). To be read alongside Practice note, Security for costs: an overview and Practice note, The procedure for applying for security for costs.

This note covers the information that must be displayed or given by a UK company under the Companies Act 2006 (2006 Act) and the Insolvency Act 1986 (as amended) (1986 Act): At specified locations. In documents and communications. At the request of those they deal with in the course of business. It includes details of  what an individual or partnership should disclose and the additional disclosures required of a charitable company. This note does not cover information that must be supplied to the Registrar of Companies.

A guide to what to look for in a company's accounts when assessing its financial position and the warnings signs that may indicate financial difficulty or potential insolvency.