Restructuring and Insolvency: Basic Concepts

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.

A note dealing with the position under the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) where the transferor is insolvent. In particular, the note considers the different rules under TUPE which apply to businesses that are subject to "relevant insolvency proceedings" or "bankruptcy proceedings or any analogous insolvency proceedings".

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.

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.

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

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

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.

This Practice note stresses the importance of giving information to clients about costs. It summarises the requirements of the Solicitors Code of Conduct 2007, and other legal requirements, and provides suggestions for how best information on costs can be provided to the client, at the outset and throughout the retainer. Note: This note covers the requirements of the Solicitors Code of Conduct 2007 (in force from 1 July 2007 to 5 October 2011).  For the latest requirements, under the Solicitors Code of Conduct 2011, see the new version of this note, Practice note, Informing the client about costs: at outset of retainer and beyond. For details of the Solicitors Costs Information and Client Care Code 1999, see, Practice note, Informing the client about costs: at outset of retainer and beyond pre 2007.

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

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.

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).

This note explains the environmental implications of restructuring a business.

A note outlining the changes to the law on the dissolution and restoration to the register of companies to be made by the Companies Act 2006 (2006 Act). For a link to the 2006 Act, see Companies Act 2006: publication of final text. For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Part 31 (dissolution and restoration to the register) will come into force on 1 October 2009.

An overview of the impact of corporate insolvency on guarantees. This practice note looks at the effect of the insolvency of the principal obligor, the guarantor and the guaranteed third party on the guarantee and on the parties' rights and remedies. It also considers the effect of foreign corporate insolvency proceedings on English law guarantees.

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.

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

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.