Legal Guidance and Research / Experts / Carolyn Jones
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Carolyn Jones

Carolyn was in practice as a solicitor from 1992 until 2017, in which time she achieved a substantial reputation as an insolvency expert, advising clearing banks and a wide range of other stakeholders on all aspects of insolvency, both corporate and personal. As a partner and business owner she led the successful insolvency team at Matthew Arnold & Baldwin LLP for a number of years. She is now focussing on her career as a mediator but continues her academic work and remains closely connected to the insolvency world. She is a long-standing member of its trade association, R3.

Author of:


Practice Area

Panels

  • Contributing Author
  • Q&A Panel

Qualified Year

  • 1994

Membership

  • Insolvency Lawyers Association
  • R3

Qualification

  • Solicitor, Senior Courts of England and Wales, 1992

3 Contributions by Carolyn Jones

Appointing fixed charge receivers during administration: consent, court permission, practical guidance and case law (England and Wales)
PRACTICE NOTES
Appointing fixed charge receivers during administration: consent, court permission, practical guidance and case law (England and Wales)
This Practice Note considers the interaction between the statutory moratorium under Schedule B1 to the Insolvency Act 1986 (IA 1986), which prevents most creditor or third-party actions against an insolvent company in administration, and the right of a secured creditor to enforce its security over the company’s secured asset by appointing a fixed charge receiver For an overview of the administration moratorium, see Practice Note: The moratorium in administration. This note focuses solely on how that moratorium interfaces with a secured creditor’s ability to appoint a fixed charge receiver over the secured asset. It does not cover other enforcement avenues open to the secured creditor. Nor does it address consequences for a lender’s ability to appoint a receiver where a ‘stand-alone’ moratorium under IA 1986, Pt A1 is in force. In that scenario, save for limited exceptions, court permission must be obtained before taking enforcement action (IA 1986, s A21(1)(c)), and permission cannot be sought to enforce a pre-moratorium debt for which the company has a payment holiday during the moratorium (IA 1986, s A21(2)). See also IA 1986, s A23 ‘Enforcement of security granted during moratorium’. For further information, see Practice Note: Moratorium...
Restructuring & Insolvency
Liquidators’ disclaimer of overage under Insolvency Act 1986, s 178: unprofitable contracts, onerous property, and consequences for charges and third parties (Hindcastle; Groveholt v Hughes)
PRACTICE NOTES
Liquidators’ disclaimer of overage under Insolvency Act 1986, s 178: unprofitable contracts, onerous property, and consequences for charges and third parties (Hindcastle; Groveholt v Hughes)
This Practice Note explores liquidators’ use of disclaimer in relation to contracts (commonly a sale contract or transfer) that include overage clauses or provisions, within the statutory framework for disclaiming onerous property under section 178 of the Insolvency Act 1986 (IA 1986). It summarises what overage means, the liquidator’s power to disclaim onerous property, and whether overage can amount to ‘onerous property’ that a liquidator may disclaim in practice. It further considers how the court has applied the effect of disclaiming contracts containing overage in the decision of Groveholt Ltd v Hughes. For fuller guidance on a liquidator’s general power to disclaim onerous property, see Practice Note: The process of disclaimer by a liquidator or trustee in bankruptcy under sections 178 or 315 of the Insolvency Act 1986. For the procedure to be followed when a liquidator disclaims onerous property, see: Checklist and timeline for disclaimer—checklist. What is overage? Overage, in this setting, usually denotes a device whereby the seller of property requires the buyer to make a further payment to the seller that corresponds to any increase in the property’s value arising after the sale completes...
Restructuring & Insolvency
Minimising administrators’ personal liability: agency, appointment defects and contractual exclusions under the Insolvency Act 1986
PRACTICE NOTES
Minimising administrators’ personal liability: agency, appointment defects and contractual exclusions under the Insolvency Act 1986
Practice Note This Practice Note explores key issues for administrators concerning their personal liability and outlines steps they may take to reduce their exposure. From a commercial perspective, this is a matter of real importance for office-holders. In this context, commercial realities matter greatly. Such considerations remain central for these office-holders in practice. They have no duty to accept any given appointment. On accepting office, they do so to perform work for fair remuneration and, though they acknowledge the demands of their professional work, they are not in the business of guaranteeing an insolvent company’s liabilities or assuming personal risk. This Practice Note does not address the extent of an office-holder’s liability for breach of duty (for example, the duty to exercise reasonable skill and care in the performance of their functions, Re Charnley Davies Limited (No 2)) or liability under paragraphs 74 and 75 of Schedule B1 to the Insolvency Act 1986 (IA 1986) ...
Restructuring & Insolvency
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