Insolvency newsletter - July 2021

Published 19 July 2021

DAC Beachcroft's Insolvency newsletter features topical news and insights for our clients and contacts.

Updates to the Statements of Insolvency Practice

New SIPs – knowing the difference between disbursements and expenses and the expanded definition of associates.

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Uralkali v Rowley – do Administrators owe a personal duty of care?

Administrators’ duties when conducting a sales process and the position of joint Administrators.

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Filing multiple Notices of Intention – the decision in Seabrook

Notices of intention to appoint administrators – the importance of a settled intention.

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Winding-up and forfeiture restrictions extended

Restrictions on winding-up petitions and forfeiture extended further.

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Companies House strike off – act quickly to avoid invalid appointments

Insolvency practitioners need to be alert to company strike off action when considering new appointments.

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Government extends ability to amend insolvency and governance legislation

The government has extended its ability to amend insolvency legislation.

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Rescinding a winding-up order – the importance of timing

We consider the court’s decision in Sarjanda Ltd refusing to rescind a winding-up order where the application was made 2 years outside of the 5 day time limit.

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Re NMUL Realisations Limited – failure to give notice to a prior QFCH

Does failure to give notice of intention to appoint administrators to a prior QFCH invalidate the appointment?

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