Powered by Lexis+®
Jurisdiction(s):
United Kingdom

UK restructuring and insolvency weekly: SIP 14 consultation, May insolvency statistics, key judgments, Water (Special Measures) Act commencement, Hague Judgments Convention start date, new substituted-service precedent, 26 June 2025

Published on: 26 June 2025

Published by a LexisNexis Restructuring & Insolvency expert
Legal News
imgtext
Article summary

In this issue:

  • Key R&I law developments
  • Industry/sector guides for R&I lawyers
  • Personal insolvency
  • Corporate insolvency
  • Daily and weekly news alerts
  • Key dates for restructuring and insolvency professionals
  • New content

Key R&I law developments

Insolvency Service issues May 2025 monthly statistics

The Insolvency Service has released its May 2025 figures on corporate and individual insolvencies in England and Wales. There were 2,238 company insolvencies, an increase of 8% on April 2025 and 15% above the same month a year earlier. Individual insolvencies totalled 10,014, broadly in line with April 2025 and 5% higher than in May 2024. See: LNB News 20/06/2025 58.

ICAEW announces JIC’s consultation launch on comprehensive SIP 14 insolvency practice updates

The Institute of Chartered Accountants in England and Wales has confirmed the Joint Insolvency Committee has opened a 12-week consultation on proposed revisions to Statement of Insolvency Practice 14 (SIP 14), which will conclude after the 12-week period...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Popular documents

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Read More Right Arrow

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Read More Right Arrow

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Read More Right Arrow

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

Read More Right Arrow