Official receiver meaning

Under section 279(1) of the Insolvency Act 1986 (IA 1986) A bankrupt is released from bankruptcy automatically at the expiry of one year starting on the date the bankruptcy order is made, pursuant to section 279(1) of the Insolvency Act 1986 (IA 1986). In some circumstances, however, it is preferable to apply to the court for an order suspending that automatic discharge. This concise checklist and timetable addresses applications to suspend automatic discharge from bankruptcy, outlining each stage from preparing the application for issue through to the making of the suspension from discharge order, together with matters to be dealt with after the order is made. The checklist and timetable do not apply to criminal bankruptcies under IA 1986, ss 264 and 280, nor to applications by the official receiver (OR) under the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 10.104(5) following the adjournment of a public examination. Step/action Time (days) Section/rule 1...

Who to serve and when The respondent to the application is the Official Receiver or the relevant office-holder, and accordingly the application together with the witness statement must be served on them. Under the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 22.2, the applicant must give notice of any application for permission to use a prohibited name to the Secretary of State for Business and Trade (the Secretary of State). This notification can be made via the Insolvency Service (for postal and email address details, see Insolvency Service Guidance: Re-use of company names). Rule 22.2 of IR 2016 requires that the Secretary of State receives no less than 14 days’ notice. In practice, however, notice ought to be provided to all interested parties as far ahead of any hearing as possible, in good time, so that the Insolvency Service has sufficient time to consider the application fully with their lawyers...

Reviews In insolvency cases, a review occurs when the court returns to and considers an order it has previously made. This mechanism (across corporate and personal insolvency) permits the decision to be reconsidered either by the judge who issued it (see Official Receiver v Bathurst) or also by a different judge (see Re W & A Glaser Limited). Both personal and corporate insolvency courts hold power to review, rescind, or vary their own orders (section 375 of the Insolvency Act 1986 (IA 1986) and the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 12.59(1)). A review should not be treated as a substitute for an appeal, and the court will deploy its discretion with particular caution when asked to formally revisit an order. For more detail, see Practice Note: Reviews of insolvency orders. General The table below addresses reviews of any order, other than a winding-up or bankruptcy order, made by the insolvency court. Step/action Time Authority 1...

Restructuring & Insolvency weekly highlights—29 August 2024 In this issue: Corporate insolvency processes Restructuring Personal insolvency Directors and insolvency Daily and weekly news alerts Corporate Rescue and Insolvency (August 2024 edition) New Q&A Corporate insolvency processes Company’s register of members | Conclusive or not for voting rights? (Bland v Keegan) In proceedings relating to JDK Construction Ltd (JDK), the Court of Appeal examined a challenge to the lawfulness of a written resolution appointing joint liquidators, alongside allegations of an unauthorised share transfer form. The Appellant argued her shares in JDK were wrongfully transferred, rendering the liquidators’ appointment invalid. The key question was whether the company’s register of members—recording her shares as transferred—was determinative for validating the members’ resolution. Affirming the decision of His Honour Judge Hodge KC, the Court of Appeal held that the register stands as prima facie evidence of who the members are and of the validity of resolutions passed by them, unless...

In this issue: Key R&I law developments Corporate insolvency processes Personal insolvency Restructuring Directors and insolvency Insurance and insolvency Daily and weekly news alerts Corporate Rescue and Insolvency (June 2025) Key dates for restructuring and insolvency professionals New Q&As Key R&I law developments Insolvency Service appoints first crypto specialist amid rising digital asset cases The Insolvency Service has recruited its first crypto intelligence specialist to strengthen digital asset recovery in bankruptcy and criminal matters. Former police investigator Andrew Small has joined the Investigation and Enforcement Services team as cryptoasset activity has jumped 420% over the past five years. In 2024–25, the Official Receiver Service identified £523,580 in cryptoassets across 59 insolvency cases, a striking rise from £1,436 found in 14 cases in 2019–20. This marked escalation highlights the increasing significance of digital holdings within insolvency work. In addition, Financial Conduct Authority data shows seven million UK adults now own some form...

Restructuring & Insolvency weekly highlights—30 May 2024 In this issue: Key R&I law developments Insolvency litigation Document review Corporate insolvency processes Personal insolvency Restructuring Directors and insolvency Daily and weekly news alerts New content Latest Q&A Key R&I law developments Insolvency (Amendment) Regulations 2024 SI 2024/722: These Regulations modify the Insolvency Regulations 1994, SI 1994/2507, raising the hourly remuneration payable to the official receiver and their officers for specified services while the official receiver serves as interim receiver, provisional liquidator, liquidator or trustee. They take effect on 9 January 2025. See: LNB News 29/05/2024 34. New regulations complete commencement of REUL(RR)A 2023 The Retained EU Law (Revocation and Reform) Act 2023 (Commencement No 2 and Saving Provisions) Regulations 2024, SI 2024/714, commence section 6 of the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023) on 1 October 2024. That section revises section 6 of the European Union (Withdrawal)...

The official receiver (OR) is designated as trustee in bankruptcy (trustee) or as liquidator to manage and investigate every bankruptcy and court-ordered winding up, including those of partnerships. The Secretary of State or the creditors may, in place of the OR, appoint an insolvency practitioner (IP) to act as trustee for personal insolvencies or as liquidator for corporate cases. Under the Insolvency Regulations 1994, SI 1994/2507, as amended (the Regulations), the OR or IP, as appropriate, is obliged to pay into the (ISA) any funds they receive while administering all bankruptcies and compulsory liquidations. Before 1 October 2011, sums from voluntary liquidations could also be lodged in the ISA; now, only unclaimed dividends in a voluntary liquidation may be paid into the ISA. Likewise, unclaimed dividends arising in an administration or an administrative receivership may be paid into the ISA once the company has been dissolved. The Regulations also permit payments out of the ISA for disbursements, expenses and distributions to creditors and, in a liquidation, to contributories, or, in...

The Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 set out a refreshed framework for taking decisions across all insolvency processes. The granular rules on decision-making are contained in IR 2016, SI 2016/1024, Pt 15. This Practice Note addresses the practical steps for forming a liquidation committee and explains the general creditors’ decision-making in liquidation. In reality, a liquidation committee carries considerable weight where cases are sizeable and complex. The liquidation committee Liquidators must obtain decisions by deemed consent or through a qualifying decision procedure. Physical meetings are permissible only when the relevant minimum number of creditors so request under section 246ZE of the Insolvency Act 1986 (IA 1986), though creditors may call for one before the notice of deemed consent or qualifying decision procedure is sent. In a creditors’ voluntary liquidation, creditors will be asked to determine if a liquidation committee should be created and to put forward nominees for committee membership at the same time as the directors seek their nomination of a liquidator,...

A bankrupt is discharged from bankruptcy one year after the bankruptcy begins, unless the court suspends that discharge because the bankrupt has failed to co-operate with the official receiver (OR) or the trustee in bankruptcy (trustee) (IA 1986, s 279). On discharge, the disqualifications and restrictions that apply to an undischarged bankrupt come to an end. For further detail on those disqualifications and restrictions, see Practice Note: The immediate effects of a bankruptcy order on the bankrupt. What is the bankruptcy restrictions regime and why was it introduced? In cases where bankruptcy is not the product of honest misfortune, but arises from the bankrupt’s misconduct or recklessness, it is regarded as appropriate that the bankruptcy disqualifications and restrictions should continue for longer than one year, to protect the public interest and act as a deterrent. Accordingly, the Enterprise Act 2002 (EnA 2002) introduced a new section (IA 1986, s 281A) and a Schedule (IA 1986, Sch 4A) into the IA 1986, so that, from 1 April 2004, the...

Note: Use this Precedent alongside an application notice template compliant with the Insolvency (England and Wales) Rules 2016, SI 2016/1024—see (Form IAA), IR 2016, r 1.35. VAR Insolvency Act Application Notice In the matter of the Insolvency Act 1986 Delete as applicable: Name of company or debtor/bankrupt: [insert debtor’s name] Company number: [________] Court: [full court name and, if known, division or district registry] Case number (for court use): [insert case number] Type of insolvency proceeding: Bankruptcy Between: Applicant [insert applicant’s name]; Respondent [insert debtor’s name]. Is this within insolvency proceedings already before the court? YES. If so, give the court reference: [________]. I/We intend to apply to the Insolvency and Companies Court Judge/District Judge on: Date [________], Time [________] hours, Place [________]. Appointment of [X, the Official Receiver of this Court, or Z, an insolvency practitioner] as interim receiver of the property of [full name of debtor], with any desired special directions....

Section 283 of the Insolvency Act 1986 (IA 1986) In general terms, section 283 states that every asset belonging to the bankrupt, or in which the bankrupt held an interest on the date the bankruptcy order was made, forms the bankruptcy estate. Under IA 1986, s 306, that estate vests in the trustee in bankruptcy (trustee) immediately and automatically on appointment, and stays vested until the trustee deals with it, typically by sale—see Practice Note: What assets vest in the trustee in bankruptcy and what steps does the official receiver or trustee in bankruptcy need to take? Where the estate includes land or a beneficial interest in land, the trustee should ensure that the correct entries are or become noted against the title, whether the title is registered or unregistered. Depending on whether the property is owned solely or jointly, certain entries may (or should) be made automatically; if they are not, the trustee can apply to the Land Registry. For more detail, see Practice Note: Protecting a...