Insolvency & Restructuring News

What's been hitting the headlines? Here you will find news stories covering all forms of Insolvency and Restructuring in the media.


Annual dinner 2018 - The role of the Court's inherent jurisdiction in insolvency litigation

ILA Annual Dinner 2018 - The role of the Court's inherent jurisdiction in insolvency litigation, pre-dinner talk now available. Read More


ILA Annual DInner 2017 - a great success

A new venue for late summer. Read More


Court-to-court communications in cross-border insolvency cases

Chapter 25 of the Chancery Guide has been amended so that parties are required, at an early stage, to consider whether the court should make use of one of the three specified sets of guidelines for court-to-court communications in cross-border insolvency cases. Read More


A fantastic conference weekend

This year's Academic Forum and Annual Conference took place on 31 March and 1 April at the Royal College of Physicians, Regent's Park. Read More


Invitation to Enter the 2017 ILA Academic Forum Competition

One speaking slot the ILA annual Academic Forum is reserved for the presentation of a paper that will be chosen by competition Read More


Revised SIP 13 issued

A revised SIP 13 has been issued, which will come into effect on 1 December 2016. SIP 13 relates to disposal of assets to connected parties in personal and corporate insolvency process (other than MVLs). The revised SIP follows the key compliance standards model adopted in recent SIPs (including last year's revised SIP 16). Read More


Bankruptcy bundles

The Chief Bankruptcy Registrar has issued the attached note regarding the procedure (from 1 November 2016) for lodging bundles for bankruptcy petition hearings in the multiple lists. Read More


New Statutory Instruments

The Compensation Orders (Disqualified Directors) Proceedings (England and Wales) Rules 2016 and The Insolvency (Amendment)(No 2) Rules 2016 Read More


Insolvency Express Trials Pilot

From 6 April 2016, a new, voluntary regime for insolvency cases is to begin as a two year pilot in the registrars' courts in the Chancery Division of the High Court at the Rolls Building. The Insolvency Express Trials (IET) Pilot will only apply to simple applications, with a costs cap of £75,000. A note detailing the IET Pilot issued by the Chief Bankruptcy Registrar is attached. Read More


The ILA Annual Conference 2016 - Oxford

The ILA is very grateful to the Honourable Mr Justice Snowden for chairing this year's Annual Conference. As in previous years, the Annual Conference covered a broad range of hot topics, and prompted lively debate among and interventions from delegates. The ILA thanks all this year's speakers for making the conference so interesting, relevant and lively. Read More


ILA Academic Forum 18 March 2016 - Invitation to Enter the 2016 ILA Academic Forum Competition

The 2016 Insolvency Lawyers' Association (ILA) Academic Forum will take place on Friday 18th March 2016 in Oxford. The theme of the conference is "Harmonisation Of Insolvency Law in Europe: Trends And Prospects". Read More


ILA Annual Dinner 2015 - a spectacular evening

The ILA's Annual Dinner was a memorable evening. Members and guests from solicitors' firms, barristers' chambers and other leading UK and overseas organisations attended the prestigious black tie event. Read More


Deregulation Act 2015 and Small Business, Enterprise and Employment Act 2015 - New provisions in force from 1 October 2015

Further commencement orders have very recently been made, which brought into effect additional provisions of the two Acts from 1 October 2015 Read More


ILA Associates' Network - Case Update - Saad, Bilta and Lehman Waterfall

Another fantastic Associates' Network seminar Read More


Central London County Court: Insolvency Jurisdiction

From 6 April 2015, the Central London County Court will have jurisdiction in both corporate and individual insolvencies. The Chancellor has agreed the note below, which sets out how matters will be distributed between the High Court and the Central London County Court. Read More


2015 ILA Academic Forum Winner Announced!

PhD Candidate, Kayode Akintola, from Nottingham University triumphed over stiff opposition to win the ILA Academic Forum 2015 Competition. Read More


The Debbie Fund Fifth Anniversary Event

The Debbie Fund would like to invite you and your friends to join them at the Debbie Fund Fifth Anniversary Event on Tuesday 3rd March 2015, 6.30pm to 9.30pm at 11 Cavendish Square, London W1G 0AN. Read More


Revised SIP 16: JIC Consultation

The Joint Insolvency Committee has launched a consultation, following the publication in June 2014 of the Graham Report on Pre-packs (see our news item of 19 June 2014), on a revised SIP 16. Read More


The ILA Annual Dinner - a spectacular evening

The ILA's 25th Anniversary Annual Dinner, held under the dinosaur in the impressive Great Hall of the Natural History Museum in London, was a memorable evening. Read More


Permission to appeal: recent Supreme Court decisions and Privy Council decision in Saad appeals from Bermuda

The Supreme Court (on 31 October 2014) refused permission to appeal the Court of Appeal's decision in Game Group relating to administration expenses and the Privy Council's eagerly awaited judgments in PricewaterhouseCoopers v Saad Investments Company Limited and Singularis Holdings Limited v PricewaterhouseCoopers (Bermuda) Read More


ILA Associates' Network - the use of English Schemes of Arrangement by foreign companies

Daniel Bayfield of South Square and Professor Jennifer Payne of Merton College Oxford, presented an extremely interesting seminar to members of the ILA Associates' Network. Read More


Small Business, Enterprise and Employment Bill

The Small Business, Enterprise and Employment Bill was introduced to Parliament on 25 June 2014, and contains a number of wide-ranging insolvency-related legislative proposals. Read More


Regulation, prepacks and disqualification: recommendations and legislative proposals

In a written Ministerial Statement published on 16 June 2014, Business Minister Jenny Willott has announced proposals for a "Way forward on insolvency practitioner regulation and pre packs" Read More


Industrial and Provident Societies: administration, schemes and CVAs

Members may have noted that in September last year, the Technical Committee responded to HM Treasury's consultation on extending rescue procedures to industrial and provident societies . Read More


Academic Forum 2014 - a round up of the day

Some 65 delegates met for this year's annual Academic Forum. Our speakers were drawn from academics, the judiciary, investors and practitioners. Professor Sarah Worthington stressed in her opening words how much value the academic community places on the dialogue which the Academic Forum promotes. Read More


Annual Conference 2014 - an intellectually stimulating and varied programme

Two members of the Court of Appeal, one Chancery judge, an IMF economist and a strong international presence amongst our speakers were bound to make this year's annual conference, held amidst the dreaming spires of Oxford, both intellectually stimulating and wide-reaching. Read More


2014 Academic Forum and Annual Conference

Insolvency lawyers from all four limbs of the profession descended in record numbers upon Oxford for the ILA's annual Academic Forum on the Friday 21st March and Annual Conference on Saturday, 22nd March 2014 Read More


Strengthening the regulatory regime and fee structure for Insolvency Practitioners

Insolvency Service published a consultation paper on 17 February 2014, entitled "Strengthening the regulatory regime and fee structure for Insolvency Practitioners". The consultation ends on 28 March 2014 Read More


Past Presidents celebrate the ILA's 25th birthday

Amidst the splendour of the Caledonian Club the ILA celebrated its 25th birthday. 20 past presidents (as well as the current president) gathered to toast the ILA, to reminisce, to celebrate its growth and success and to discuss the challenges and the opportunities. Read More


STOP PRESS: Rent as an administration expense: Court of Appeal decision in Game Group

The Court of Appeal's judgment in Game Group (sub nom Pillar Denton Limited and Ors v Jervis & Ors [2014] EWCA Civ 180) was handed down on 24 February 2014. In a key decision, delivered by Lewison LJ, the CA has unanimously overturned the earlier rulings in Goldacre (Offices) Ltd v Nortel Networks UK Ltd and Leisure (Norwich) II Ltd v Luminar Lava Ignite Ltd and has held that, where the equitable salvage, or Lundy Granite, principle applies and where the office-holder uses or retains property for the benefit of the winding up or administration, rent payable in advance will (like rent payable in arrears) be payable as an expense of the administration or winding up for the duration of the period of "beneficial retention". Such rent will be treated as accruing from day to day. Read More


Proposed reform of the EC Insolvency Regulation

On 5 February 2014, the European Parliament voted to approve a number of amendments to the EC Insolvency Regulation. The amendments go beyond those originally proposed by the European Commission in December 2012 and include a look back period of three months when assessing COMI and the introduction of the concept of a group co-ordinator for group insolvencies. Read More


Academic Forum winner announced

The winner of this year's ILA Academic Forum Competition for early career academics is David Ehmke, PhD Candidate at Humboldt University, Berlin and Masters Candidate at Oxford University Read More


Parliament Listens to the ILA

In the course of 2013, the Technical Committee responded on behalf of ILA members to eleven government and EC Commission consultations and calls for evidence relating to restructuring and insolvency. Read More


Urgent applications in Bankruptcy and the Companies Court: notice issued

Notice issued by Chief Registrar Baister Read More


The 2013 Annual Dinner and Lecture

The ILA's 2013 Annual Dinner, held in the impressive Great Hall of the Natural History Museum in London was a memorable evening attended by over 400 members and guests. Read More


ILA Academic Forum 2014

ILA launches the 2014 Academic Forum Competition Read More


Speech given by Lord Hope on the issues raised in the BNY Ltd v Eurosail plc case

Further to our technical bulletin 484 on the Supreme Court's decision in BNY Ltd v Eurosail plc, members may be interested to read the transcript of a recent speech given by Lord Hope on the issues raised in the case. A link is available on the Supreme Court's website Read More


ILA Associates' Network - Junior Counsel discuss the Lehman and Nortel appeals

The ILA Associates' Network hold another successful event Read More


Supreme Court allows appeals in Nortel and Lehman

The Supreme Court has today unanimously allowed the appeals in In the matter of the Nortel Companies; In the matter of the Lehman Companies; In the matter of the Lehman Companies (no. 2) [2013] UKSC 52 and held that a liability under an FSD issued after a company has gone into administration ranks as a provable debt and not as an expense of the administration. Read More


European Commission consultation on the harmonisation of specific areas of insolvency law

New European Approach to Business Failure and Insolvency - Commission consultation on harmonisation Read More


The impact of the Jackson reforms - the profession's view

R3 is conducting a research project about replica rolex uk on the profession's call for a permanent carve-out from the Jackson reforms. Read More


The UK has opted in to the EU Commission's proposals to amend the Regulation on insolvency proceedings

The European Commission published its proposals to reform the existing EU Insolvency Regulation in December 2012. Business Minister Jo Swinson has announced that the UK Government has exercised its right under the EU Treaty to opt-in to the Regulation, and will participate fully in negotiations and implementation of the Regulation Read More


A family celebration....The new President reflects on this year's conference

One week following the conference, where we were supported in unprecedented numbers by our members, I find myself reflecting on the Conference and considering how it characterised so much about what we value as members of the ILA family, being Read More


Report from the 2013 Academic Forum

This year's ILA Academic Forum took place in the historic surroundings of Trinity Hall College in Cambridge and was a resounding success. Record numbers attended comprising academics (about half of the total), barristers, solicitors, overseas academics and members of the judiciary Read More


ILA Technical Committee Vacancy

An exciting part time and flexible vacancy has arisen on the ILA Technical Committee Read More


ILA Annual Dinner and lecture 2012

The ILA's 23nd Anniversary Annual Dinner, held under the dinosaur in the impressive Great Hall of the Natural History Museum in London was a memorable evening attended by over 500 members and guests. Read More


Applications for appointment to the Insolvency Rules Committee

Applications for appointment to the Insolvency Rules Committee Read More


ILA South West Regional Training

The ILA held a South West regional training event in Bristol on 9 October 2012, when The Honourable Mr Justice Morgan ... Read More


European Commission consultation on the future of EU insolvency law

The European Commission has recently launched a consultation examining the current EU insolvency regime. Please let us have your views on the issues. Read More


ILA Annual Conference 2012

The ILA's Annual Conference chaired by The Honourable Mr Justice Newey took place on 24th March 2012 in the delightful setting of the historic Luton Hoo Hotel, Bedfordshire. Read More


ILA Academic Group Annual Meeting 2012

Professor David Milman, chair of the Academic Colloquium reports on the 2012 meeting at Luton Hoo Read More


New Insolvency Practice Direction approved

The Chancellor of the High Court's new Insolvency Practice Direction has been approved by the Lord Chancellor and therefore comes into immediate effect today, 23 February 2012 Read More


R&ILN seminar

On Thursday 3 November, the Restructuring and Insolvency Lawyers' Network co-hosted a seminar entitled "Sports Roundup: A Legal Update" with members of 3-4 South Square and Dundas & Wilson. Read More


Insolvency Service Request to ILA Members

The Insolvency Service has issued a request to ILA Members to provide further evidence to support the case for legislative reform on the subject of Administration Expenses following the Nortel pensions decision. Read More


Insolvency Lawyers' Association's Response to the draft Insolvency (Amendment) (No.2) Rules 2011

Members will be aware of the government's latest proposals to improve transparency in pre-pack sales, and administration sales to connected or associated parties are causing wide concern within the profession. The ILA provided a response, which can be read here. Read More


5th Insolvency Research Conference

The Insolvency Service's 5th annual research conference moved north this year and was hosted by Nottingham Law School ... Read More


ILA Annual Conference 2011

The ILA Annual Conference in Oxford proved once again the association's ability to bring together the profession's leading lights and stimulate debate ... Read More


ILA Academic Colloquium 2011

A glorious Spring day heralded the ILA Academic Colloquium 2011 at the Randolph Hotel in Oxford ... Read More


Consultation on proposals for reforming the regulatory framework for Insolvency Practitioners

The Insolvency Service has launched a consultation on proposals for reforming the regulatory framework for Insolvency Practitioners Read More


ILA President's Column - Welcome To Our Insolvency Academic Members

It gives me great pleasure to announce that, with effect from 1 December 2010, we have taken into our fold the large and energetic community of insolvency academics in the UK. Read More


2010 ILA Annual Dinner: a memorable evening

On Wednesday 10 November 2010, the President of the ILA, Peter Cranston, louboutin schuhe, welcomed leading insolvency judges, ILA members and their guests, and sponsors Law Debenture, to the ILA's 21st Anniversary Annual Dinner ... Read More


ILA President's Column - Some things never change?

As even the indefatigables of the ILA's Technical Committee will now know, summer is over. If any affirmation was needed, the return of the "Alex" cartoons to the pages of the Daily Telegraph provides it amply. But even in that tongue in cheek offering, we can see a snapshot of the broader economic sentiments that "catastrophe has been avoided", but the "outlook is not cheery", with austerity measures on the horizon, and companies and individuals retrenching. Read More


Restructuring and Insolvency Lawyers' Network Seminar

On 14 October 2010, the Restructuring and Insolvency Lawyers' Network hosted a drinks reception and seminar for associate members and prospective associate members of the ILA. Barry Isaacs of 3-4 South Square delivered a fascinating seminar on the anti-deprivation principle. Read More


Inaugural Law Debenture Seminar

On 12th May 2010 a packed house attended the Inaugural Law Debenture Seminar at The London Capital Club. Entitled "Aspects of Financial Restructuring" the panel, chaired by William Trower QC, was ably supported by Read More


ILA President's Column - Maturity and Agelessness

By the time you read this, my first President's column, the ILA will have held its AGM and Annual Conference in Chester, the latter most ably chaired by David Richards J, and members will be grappling with the amended Insolvency Rules which came into effect on 6 April 2010, just in time for the age of austerity predicted to follow the imminent General Election... Read More


ILA Annual Conference 2010 in Chester

The ILA Annual Conference 2010 was held at the Grosvenor Hotel & Spa in the historic city of Chester on Friday 26th March and Saturday 27th March 2010. Deva Victrix, as the city was known in Roman times, was the cheap replica handbags site of the largest Roman fortress in Britain, situated at a stategic site on a bend in the River Dee. The Chester Grosvenor has been a central part of life in the city since 1866, with its restaurant holding a Michelin star since 1990... Read More


R&I Lawyers' Network Reception

The R&I Lawyers' Network, established to promote the benefits of associate membership of the ILA, was launched at a reception held at The Old Hall in Lincoln's Inn on the evening of 21 January 2010... Read More


President's View - Stephen Davies QC welcomes the new ILA website

It has been a long time coming. It is the product of the vision and hard work of the ILA Council driven by my three immediate predecessors, Ken Baird, Louise Verrill and Ian Field. Within the ILA, the nuts and bolts of the new website have been assembled by a team of hard-working volunteers led by Council member, Justin Bickle working in conjunction with our website providers, Sears Davies. Read More


ILA Conference 2009 in Cardiff Bay

The ILA's 2009 Conference was held at the St. David's Hotel and Spa overlooking the waterfront of Cardiff Bay during the weekend of 27 - 29 March 2009. Read More