Commencement of bankruptcy meaning

Restructuring & Insolvency weekly highlights—19 December 2024 In this issue: Key R&I law developments Corporate insolvency processes Directors and insolvency Insolvency litigation Creditors’ participation R&I in Scotland International restructuring and insolvency Daily and weekly news alerts Key dates for restructuring and insolvency professionals New Practice Note—Restructuring and insolvency Highlights 2024/2025 Key R&I law developments Insolvency Service publishes monthly insolvency statistics for November 2024 The Insolvency Service has issued its November 2024 statistics for England and Wales, covering both corporate and individual cases. There were 1,966 corporate insolvencies—13% higher than October 2024, yet 12% down on November 2023. Individual insolvencies reached 10,012, a 12% rise from October 2024 and 25% above November 2023. See: LNB News 17/12/2024 35. Corporate insolvency processes What comprises an ‘unregistered company’ under section 220(1) of the Insolvency Act 1986? (East Riding of Yorkshire Council v KMG) KMG (the Fund) is an investment fund established in...

In this issue: Disputes and remedies Repairing obligations and dilapidations Service charges Contractual issues Rent and rates Enforcing security and property insolvency Property disputes in Scotland Additional Property Disputes updates LexTalk® Property Disputes: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Latest Q&As Disputes and remedies Costs application following a partly successful rights to light claim (Cooper v Ludgate House) In Cooper v Ludgate House Ltd [2026] EWHC 484 (Ch), the Chancery Division addressed costs after a decision where flat leaseholders proved both rights to light and their infringement by the developer’s project. Damages in lieu were ordered on a negotiating basis—£350,000 for Mr Cooper and £500,000 for the Powells—while an injunction compelling the defendant to reduce the building to avoid actionable interference was refused (see Cooper v Ludgate House; Powell v Ludgate House [2025] EWHC 1724 (Ch)). The central...

In this issue: Residential tenancies Repair duties and dilapidations Rent and rates Service charges Disputes and remedies Enforcing security and property insolvency Enfranchisement and right to manage Property Disputes in Scotland Further Property Disputes updates LexTalk® Property Disputes: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Residential tenancies Required contents of written statement of terms and information sheet required under Renters’ Rights Act 2025 published The government has released draft regulations detailing what must appear in the written statement of terms and the information sheets mandated by section 12 of the Renters’ Rights Act 2026 (RRA 2025). The Assured Tenancies (Private Rented Sector) (Written Statement of Terms etc. and Information Sheet) (England) Regulations 2026 specifies the particulars to be provided for assured tenancies from 1 May 2026. In Wales, the Renters’ Rights Act 2025 (Commencement) (Wales) Order 2026 SI 2026/6...

This Practice Note has been archived and is not maintained. The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) obtained Royal Assent on 26 March 2015, delivering a package of reforms and statutory clarifications designed to keep the UK recognised worldwide as a dependable, fair environment for commerce while creating fresh scope for small firms to innovate and compete. The Act introduced a range of company and insolvency measures to underpin a robust regulatory framework for those responsible for administering insolvencies. Within this Practice Note we address the provisions relevant to trustees in bankruptcy, located in SBEEA 2015, section 133 and Schedule 10. These provisions took effect on 6 April 2017 under the Small Business, Enterprise and Employment Act 2015 (Commencement No 6 and Transitional and Savings Provisions) Regulations 2016, SI 2016/1020. SBEEA 2015 is supported by Explanatory Notes (prepared by the Department for Business, Innovation and Skills—now the Department for Business, Energy & Industrial Strategy), in conjunction with HM Treasury, HMRC, UK Export Finance, the Cabinet Office,...

FORTHCOMING CHANGE : The Renters’ Rights Act 2025 received Royal Assent on 27 October 2025. For guidance on the Act’s impact on residential tenancies in England, see Practice Note: Renters' Rights Act 2025—key provisions. This Practice Note outlines the options available to landlords and tenants for bringing an assured tenancy (AT) or an assured shorthold tenancy (AST) in England to an end. It concentrates on the landlord routes under sections 8 and 21 of the Housing Act 1988 (HA 1988), including the requirements for serving a notice seeking possession and the need to evidence any grounds relied upon. The pre-conditions for a section 21 notice include: Providing a gas safety certificate Supplying an Energy Performance Certificate Giving the How to Rent document Complying with a Tenancy Deposit Scheme It also addresses the court process for possession—varying according to whether section 8 or section 21 is used—and the steps to enforce a possession order where required. For material on granting...

Introduction and background The Bankruptcy (Scotland) Act 1985 (B(S)A 1985) took effect in 1986 and laid out, in detail, the processes for managing sequestration (Scottish bankruptcy). When the Insolvency (Scotland) Rules 1986, SI 1986/1915, were issued shortly afterwards for corporate insolvency in Scotland, they drew upon the newly enacted B(S)A 1985 provisions and tailored them for liquidation, particularly for adjudication of claims, accounting periods, and approval of the liquidator’s remuneration. Accordingly, the 1986 liquidation rules directed readers to the relevant parts of B(S)A 1985, with instructions to read ‘liquidation’ for ‘sequestration’ and ‘liquidator’ for ‘trustee’. With the advent of the ‘new’ administration regime in 2003 under the Enterprise Act 2002, the administration rules covering adjudication of claims, accounting periods and approval of the administrator’s remuneration simply cross-referenced the liquidation rules, which themselves referred back to sequestration and B(S)A 1985. Thus, the approach to adjudication of claims and the approval of remuneration across sequestration, liquidation and administration was broadly consistent and founded on B(S)A 1985. The Insolvency (Scotland) Amendment Rules...