On June 18, 2026, the English High Court sanctioned two interconnected restructuring plans that will eliminate approximately US$9.6 billion of debt and implement a broader operational reorganization of the group. Just eight days later, on June 26, 2026, Judge Glenn of the US Bankruptcy Court for the Southern District of New York granted Chapter 15 … Continue Reading
With the anticipated appeal in Novalpina having been heard at the end of last month, practitioners will be watching closely to see what the courts have in store for solvent liquidations. In particular, there remains considerable interest in whether the first instance findings concerning the requirement to pay all debts, together with statutory interest, within … Continue Reading
When placing a company into Members’ Voluntary Liquidation (“MVL“), the statutory declaration of solvency is not simply a box‑ticking exercise. The recent High Court judgment in Greenbank Technology Ltd (in liquidation) serves as a stark reminder that a statutory declaration is a substantive legal act, not just a formality that can be cured later. Greenback … Continue Reading
The Insolvency Service has launched its Second Review of the Insolvency (England and Wales) Rules 2016 and the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018. While this is formally a statutory post-implementation review, it is much more than a box-ticking exercise. The consultation provides an opportunity to influence how insolvency processes operate in … Continue Reading
In Cross Transport Ltd (In Administration) [2026] EWHC 1636 (Ch) the Court was asked to consider the “super priority” status afford to protected moratorium debts in the context of a subsequent administration. The Insolvency Act 1986 requires a company, entering a moratorium, to pay certain debts that are incurred during the moratorium period (“moratorium debts”), … Continue Reading
In NOAL SCSp v Novalpina Capital LLP [2025], the court took a strict view of the statutory requirement that companies entering a member’s voluntary liquidation (MVL) must be able to pay all their debts (including contingent or disputed ones) within 12 months. That mattered because, in practice, some insolvency professionals understood the legislation to mean … Continue Reading
The case of Currie & Anor v Fission Recruitment Services Ltd [2026] EWHC 1369 (Ch) (13 March 2026) is (we think) the only case to provide an example of what amounts to substantial injustice, such that a defect in the administration appointment process could not be remedied under r12.64 of the Insolvency Rules 2016. The … Continue Reading
The Court of Appeal’s recent judgment in TAQA Bratani Limited (“TAQA”) & Others v Fujairah Oil & Gas UK LLC & Others [2025] EWCA Civ 1669 provides clarity on how the Court will approach the question of whether a transaction, is a transaction at an undervalue caught under s.238 of the Insolvency Act 1986 (“Act”). … Continue Reading
Ahead of the Insolvency Rules Review expected this summer, the Insolvency Service have published a new statutory instrument (SI) that will come into force on 22 June. This seeks to tidy up a few of the “niggles” found in the Insolvency Rules 2016 (Rules) that have caused practitioners a headache, as well as making a … Continue Reading
When Waldorf Production UK Plc returned to court with its second restructuring plan in a year, the primary opposition it faced was from HMRC who voted against the plan. Mr Justice Green ultimately sanctioned the plan, cramming down the liabilities owed to HMRC but the judgment provides some helpful insight into the position taken by … Continue Reading
The Renters Rights Act 2025 (Act), which came into force on 1 May 2026 aims to give private tenants greater security and protection from eviction, in many respects aligning the position with business tenants who are in occupation under a protected business tenancy. For insolvency practitioners (IPs) appointed as administrators or liquidators of a business … Continue Reading
Whilst the Supreme Court’s decision in THG Plc v Zedra Trust Company (Jersey) Ltd [2026] UKSC 6 provides clarity on the application of limitation periods in unfair prejudice claims, it raises fresh questions for certain insolvency claims that have traditionally been thought to have limitation periods.… Continue Reading
The Building Safety Act 2022 introduced sweeping changes to address this country’s building safety failures exposed by Grenfell. One of its most significant and arguably most revolutionary remedies introduced by the Act is the Building Liability Order, or BLO, designed to prevent relevant building safety liabilities being left behind in undercapitalised project companies while associated … Continue Reading
There is something to be said for “assume the worst” when it comes to defects in administration appointments and extensions. The court has taken this approach in a few cases where, rather than trying to work out the intricacies and effect of a defect on an appointment or extension, it has assumed the worst (i.e … Continue Reading
The Council of the European Union has just given the green light to a new EU Law that aims to bring consistency to key aspects of insolvency rules across Member States. For years, businesses and investors have had to navigate a patchwork of national regimes—each with its own procedures, timelines, and quirks. The new Directive … Continue Reading
It has been a while since we have had any cases challenging the fairness of a CVA, but in this recent Scottish decision where HMRC challenged the approval of Petrofac’s CVA on the basis of fairness, the court was required to consider HMRC’s contention that the CVA unfairly prejudiced its interests. In The Advocate General … Continue Reading
In Wonop ApS v Jagger (as joint administrator of FAI Realisations 2024 Ltd) [2026] EWHC 362 (Ch) the High Court was required to consider the effect of filing a notice under paragraph 84(4) of Schedule B1 to the Insolvency Act 1986 – specifically, whether the registration of such a notice operates automatically to bring an … Continue Reading
The powers of provisional liquidators are generally as set out in the order appointing them. In longer running provisional liquidations, this can lead to multiple trips to court by the provisional liquidators to extend or confirm powers. In Re Versilia Solutions Limited[1] the High Court considered the scope of provisional liquidators’ powers in circumstances where, … Continue Reading
The recent High Court decision in Maher and another v Investalet Ltd [2025] EWHC 3133 (Ch) serves as a critical reminder for insolvency practitioners about the importance of choosing the correct procedural route when seeking possession of property. It is an important case for insolvency practitioners dealing with intermediate landlords and unauthorised occupiers. In this … Continue Reading
The High Court has dismissed the liquidators’ appeal in Webb & another (as joint liquidators of Eversholt Rail (365) Ltd (in liquidation) v another company [2026] EWHC 101 (Ch), reaffirming that requests for information under section 235 and 236 of the Insolvency Act 1986 must be reasonable. Sections 235 and 236 enable officeholders to uncover … Continue Reading
The recent decision in CDI Realisations Limited is a short one, but it sits against a much longer-running debate about creditor consent for administration extensions and, in particular, when creditor status should be assessed for these purposes. While the facts of CDI are relatively straightforward, the decision is a useful addition to the growing body … Continue Reading
When a business runs into financial difficulties and proposes a Company Voluntary Arrangement (“CVA”), landlords, insolvency practitioners and local authorities can disagree about who should pick up the bill for business rates on empty leasehold premises – the landlord, or the company in CVA?… Continue Reading
When a company enters administration, the administrators must set out proposals explaining how they intend to achieve the purpose of the administration, but what happens when creditors refuse to approve those proposals? A recent decision in Re PPE Medpro Limited (in Administration) [2025] EWHC 3449 (Ch) (“PPE Medpro”) provides important clarification. The Statutory Framework … Continue Reading
In a world where it is much more common to send someone a text, a WhatsApp message, email or other electronic communication, than type a letter or put pen to paper, the Court does find itself now and again considering how the digital ways of communicating interact with laws that were introduced way before the … Continue Reading
