Debt relief restrictions order meaning

Restructuring & Insolvency weekly highlights—11 July 2024 In this issue: Key R&I law developments Sanctions Corporate insolvency processes Personal insolvency Restructuring Directors and insolvency Insolvency litigation Daily and weekly news alerts New content Key R&I law developments Insolvency Service publishes June 2024 enforcement outcomes management information The Insolvency Service has refreshed its enforcement outcomes management information tables to include June 2024 data. The figures indicate 90 director disqualifications and 12 bankruptcy and debt relief restrictions arising from its enforcement activity. See: LNB News 09/07/2024 48. Sanctions Judgment Alert: Hellard v OJSC Rossiysky Kredit Bank (in liquidation) [2024] EWHC 1783 (Ch) The judgment in this matter has now been handed down. See: LNB News 10/07/2024 56. Corporate insolvency processes Petitions based on unrecognised/unregistered foreign judgment debts (Re a Company) The High Court has lately addressed two key questions concerning a winding-up petition anchored on foreign judgment debts that...

In this issue: Key R&I law developments Corporate insolvency processes Personal insolvency Restructuring Directors and insolvency Insolvency litigation International restructuring and insolvency R&I in Scotland Daily and weekly news alerts Corporate Rescue and Insolvency (February 2025) Key dates for restructuring and insolvency professionals Key R&I law developments Insolvency Service releases January 2025 enforcement outcomes management information The Insolvency Service has refreshed its management information on enforcement outcomes for January 2025. The figures indicate 88 disqualifications of directors and 13 restrictions relating to bankruptcy and debt relief. See: LNB News 11/02/2025 6. Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order (Northern Ireland) 2025 SR 2025/19 This Order revises the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991, SR 1991/301, by excluding the Institute of Chartered Accountants in Ireland from the Schedule to that Order. It takes effect on 19 February 2025. See: LNB News 10/02/2025 9...

In this issue: Key R&I law developments Corporate insolvency processes Personal insolvency Directors and insolvency Insolvency litigation The office-holder Financial institutions Daily and weekly news alerts Corporate Rescue and Insolvency (August 2025) Key dates for restructuring and insolvency professionals Key R&I law developments Companies House announces mandatory ID verification timeline starting November 2025 Companies House confirmed that compulsory identity checks under the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) begin on 18 November 2025. Prospective directors must verify before incorporation or appointment, and existing directors will do so with their next confirmation statement. Persons with significant control have a 12-month transition to complete checks. The regime captures around 6–7 million people, who must finish verification by November 2026. Verification will run via GOV.UK One Login or through Authorised Corporate Service Providers. Once in force, acting as a director without verification will be an offence. See: LNB News 05/08/2025 29. Insolvency...

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...

Impact of national insolvency on domestic or foreign arbitration (England and Wales) This Practice Note reviews how insolvency proceedings begun in England and Wales influence arbitration obligations where one of the parties is insolvent. The IBA toolkit on insolvency and arbitration Drawing on the National Report for England and Wales within the IBA Toolkit on Insolvency and Arbitration (IBA Toolkit), and reproduced with permission, this Practice Note summarises key guidance. The IBA Toolkit offers direction to parties, counsel and arbitrators when an arbitration participant is also in insolvency proceedings in one or more jurisdictions. Alongside the England and Wales Report, the IBA Toolkit includes multiple other National Reports. For clarity, the National Report informing this Practice Note is not intended to constitute legal advice tailored to particular facts. Non-application of EU Recast Regulation on Insolvency following Brexit This Practice Note addresses insolvency cases commenced after 11 pm on 31 December 2020 (IP completion day) and proceeds on the basis that the saving provisions relating to...

This glossary sets out numerous expressions regularly encountered in the restructuring & insolvency sphere. Words shown in bold within definitions are themselves explained in other entries in this glossary as well. A Article X The MLIJ contains a single provision named Article X, aimed at jurisdictions that have already implemented the MLCBI, like England, or are weighing its adoption. Article X states: ‘Not withstanding any prior interpretation to the contrary, the relief available under [insert a cross-reference to the legislation of this State enacting Article 21 of the UNCITRAL Model Law on Cross-Border Insolvency] includes recognition and enforcement of a judgment’ (see Practice Note: UNCITRAL model law on recognition and enforcement of insolvency-related judgments (MLIJ): Article X). Asset-backed security (ABS) A form of security anchored by asset pools, for example loans, leases, and credit card receivables. Assimilated law From 1 January 2024, ‘retained law’ has been retitled ‘assimilated law’. The body of domestic law originally arising from EU obligations, created by the European...