The use of formal restructuring procedures to reduce lease liabilities is nothing new. For many years, retailers and hospitality businesses relied on Company Voluntary Arrangements (“CVAs”) to reduce rents, compromise arrears and exit underperforming sites. Since the introduction of Part 26A of the Companies Act 2006, attention has focussed on how Restructuring Plans (“RPs”) can … Continue Reading
The court was asked to assist the joint liquidators of Float Capital[1] (the Company) in circumstances where it was inappropriate to seek creditor approval under Part 18 of the Rules. This was because the majority creditor of the Company, PTC, was in administration and, Mr Bouchier, one of the liquidators of the Company was also … Continue Reading
The Court of Appeal decision in Carvill‑Biggs & Anor v Reading [2025] EWCA Civ 619, clarifies the scope and application of section 234 of the Insolvency Act 1986, which empowers an office-holder to compel the delivery up of company property or documents from third parties, in relation to mortgaged land. This blog considers the unique … Continue Reading
When it comes to applications by office-holders for approval of their remuneration, the message in the case of Poxon and another v Wejo Ltd (in administration) [2025] EWHC 135 (Ch) was, the detail matters. Background Having failed to obtain approval from the creditors in respect of both their pre and post administration costs, the joint … Continue Reading
The powers of investigation afforded to office-holders under s. 236 of the Insolvency Act 1986 are there to enable the court to help an office-holder discover the true facts concerning the affairs of a company, its trading and dealings, to allow the office-holder to complete their function. These powers are wide reaching and include compelling … Continue Reading
From time to time, officeholders apply to court to seek approval of a proposed course of action which they have decided to take in connection with their function. But where the court sanctions those decisions, are the officeholders protected from subsequent claims relating to the same? The Court of Appeal, in the case of Denaxe … Continue Reading
