Insolvency & Restructuring News

What's been hitting the headlines? Here you will find news stories covering all forms of Insolvency and Restructuring in the media.

25/11/14

2015 ILA Academic Forum Competition - Invitation to enter

The 2015 Insolvency Lawyers' Association (ILA) Academic Forum will take place on Friday 24 April 2015 in London. The theme of the conference is "UK restructuring and insolvency law: fit for the future?". Based on the success of the two previous years, one slot in the Academic Forum programme is reserved for the presentation of a paper that will be chosen by competition. Doctoral students and early career researchers working on insolvency law are particularly encouraged to enter this competition Read More

17/11/14

Permission to appeal: recent Supreme Court decisions and Privy Council decision in Saad appeals from Bermuda

The Supreme Court (on 31 October 2014) refused permission to appeal the Court of Appeal's decision in Game Group relating to administration expenses and the Privy Council's eagerly awaited judgments in PricewaterhouseCoopers v Saad Investments Company Limited and Singularis Holdings Limited v PricewaterhouseCoopers (Bermuda) Read More

23/09/14

ILA Associates' Network - the use of English Schemes of Arrangement by foreign companies

Daniel Bayfield of South Square and Professor Jennifer Payne of Merton College Oxford, presented an extremely interesting seminar to members of the ILA Associates' Network. Read More

07/07/14

Small Business, Enterprise and Employment Bill

The Small Business, Enterprise and Employment Bill was introduced to Parliament on 25 June 2014, and contains a number of wide-ranging insolvency-related legislative proposals. Read More

19/06/14

Regulation, prepacks and disqualification: recommendations and legislative proposals

In a written Ministerial Statement published on 16 June 2014, Business Minister Jenny Willott has announced proposals for a "Way forward on insolvency practitioner regulation and pre packs" Read More

10/04/14

Industrial and Provident Societies: administration, schemes and CVAs

Members may have noted that in September last year, the Technical Committee responded to HM Treasury's consultation on extending rescue procedures to industrial and provident societies . Read More

09/04/14

Academic Forum 2014 - a round up of the day

Some 65 delegates met for this year's annual Academic Forum. Our speakers were drawn from academics, the judiciary, investors and practitioners. Professor Sarah Worthington stressed in her opening words how much value the academic community places on the dialogue which the Academic Forum promotes. Read More

09/04/14

Annual Conference 2014 - an intellectually stimulating and varied programme

Two members of the Court of Appeal, one Chancery judge, an IMF economist and a strong international presence amongst our speakers were bound to make this year's annual conference, held amidst the dreaming spires of Oxford, both intellectually stimulating and wide-reaching. Read More

24/03/14

2014 Academic Forum and Annual Conference

Insolvency lawyers from all four limbs of the profession descended in record numbers upon Oxford for the ILA's annual Academic Forum on the Friday 21st March and Annual Conference on Saturday, 22nd March 2014 Read More

11/03/14

Strengthening the regulatory regime and fee structure for Insolvency Practitioners

Insolvency Service published a consultation paper on 17 February 2014, entitled "Strengthening the regulatory regime and fee structure for Insolvency Practitioners". The consultation ends on 28 March 2014 Read More

11/03/14

Past Presidents celebrate the ILA's 25th birthday

Amidst the splendour of the Caledonian Club the ILA celebrated its 25th birthday. 20 past presidents (as well as the current president) gathered to toast the ILA, to reminisce, to celebrate its growth and success and to discuss the challenges and the opportunities. Read More

24/02/14

STOP PRESS: Rent as an administration expense: Court of Appeal decision in Game Group

The Court of Appeal's judgment in Game Group (sub nom Pillar Denton Limited and Ors v Jervis & Ors [2014] EWCA Civ 180) was handed down on 24 February 2014. In a key decision, delivered by Lewison LJ, the CA has unanimously overturned the earlier rulings in Goldacre (Offices) Ltd v Nortel Networks UK Ltd and Leisure (Norwich) II Ltd v Luminar Lava Ignite Ltd and has held that, where the equitable salvage, or Lundy Granite, principle applies and where the office-holder uses or retains property for the benefit of the winding up or administration, rent payable in advance will (like rent payable in arrears) be payable as an expense of the administration or winding up for the duration of the period of "beneficial retention". Such rent will be treated as accruing from day to day. Read More

13/02/14

Proposed reform of the EC Insolvency Regulation

On 5 February 2014, the European Parliament voted to approve a number of amendments to the EC Insolvency Regulation. The amendments go beyond those originally proposed by the European Commission in December 2012 and include a look back period of three months when assessing COMI and the introduction of the concept of a group co-ordinator for group insolvencies. Read More

29/01/14

Academic Forum winner announced

The winner of this year's ILA Academic Forum Competition for early career academics is David Ehmke, PhD Candidate at Humboldt University, Berlin and Masters Candidate at Oxford University Read More

15/01/14

Parliament Listens to the ILA

In the course of 2013, the Technical Committee responded on behalf of ILA members to eleven government and EC Commission consultations and calls for evidence relating to restructuring and insolvency. Read More

20/11/13

Urgent applications in Bankruptcy and the Companies Court: notice issued

Notice issued by Chief Registrar Baister Read More

06/11/13

The 2013 Annual Dinner and Lecture

The ILA's 2013 Annual Dinner, held in the impressive Great Hall of the Natural History Museum in London was a memorable evening attended by over 400 members and guests. Read More

23/10/13

ILA Academic Forum 2014

ILA launches the 2014 Academic Forum Competition Read More

11/09/13

Speech given by Lord Hope on the issues raised in the BNY Ltd v Eurosail plc case

Further to our technical bulletin 484 on the Supreme Court's decision in BNY Ltd v Eurosail plc, members may be interested to read the transcript of a recent speech given by Lord Hope on the issues raised in the case. A link is available on the Supreme Court's website Read More

02/09/13

ILA Associates' Network - Junior Counsel discuss the Lehman and Nortel appeals

The ILA Associates' Network hold another successful event Read More

24/07/13

Supreme Court allows appeals in Nortel and Lehman

The Supreme Court has today unanimously allowed the appeals in In the matter of the Nortel Companies; In the matter of the Lehman Companies; In the matter of the Lehman Companies (no. 2) [2013] UKSC 52 and held that a liability under an FSD issued after a company has gone into administration ranks as a provable debt and not as an expense of the administration. Read More

10/07/13

European Commission consultation on the harmonisation of specific areas of insolvency law

New European Approach to Business Failure and Insolvency - Commission consultation on harmonisation Read More

26/06/13

The impact of the Jackson reforms - the profession's view

R3 is conducting a research project on the profession's call for a permanent carve-out from the Jackson reforms. Read More

15/04/13

The UK has opted in to the EU Commission's proposals to amend the Regulation on insolvency proceedings

The European Commission published its proposals to reform the existing EU Insolvency Regulation in December 2012. Business Minister Jo Swinson has announced that the UK Government has exercised its right under the EU Treaty to opt-in to the Regulation, and will participate fully in negotiations and implementation of the Regulation Read More

12/03/13

A family celebration....The new President reflects on this year's conference

One week following the conference, where we were supported in unprecedented numbers by our members, I find myself reflecting on the Conference and considering how it characterised so much about what we value as members of the ILA family, being Read More

06/03/13

Report from the 2013 Academic Forum

This year's ILA Academic Forum took place in the historic surroundings of Trinity Hall College in Cambridge and was a resounding success. Record numbers attended comprising academics (about half of the total), barristers, solicitors, overseas academics and members of the judiciary Read More

27/11/12

ILA Technical Committee Vacancy

An exciting part time and flexible vacancy has arisen on the ILA Technical Committee Read More

15/11/12

ILA Annual Dinner and lecture 2012

The ILA's 23nd Anniversary Annual Dinner, held under the dinosaur in the impressive Great Hall of the Natural History Museum in London was a memorable evening attended by over 500 members and guests. Read More

09/11/12

Applications for appointment to the Insolvency Rules Committee

Applications for appointment to the Insolvency Rules Committee Read More

09/10/12

ILA South West Regional Training

The ILA held a South West regional training event in Bristol on 9 October 2012, when The Honourable Mr Justice Morgan ... Read More

15/05/12

European Commission consultation on the future of EU insolvency law

The European Commission has recently launched a consultation examining the current EU insolvency regime. Please let us have your views on the issues. Read More

24/03/12

ILA Annual Conference 2012

The ILA's Annual Conference chaired by The Honourable Mr Justice Newey took place on 24th March 2012 in the delightful setting of the historic Luton Hoo Hotel, Bedfordshire. Read More

23/03/12

ILA Academic Group Annual Meeting 2012

Professor David Milman, chair of the Academic Colloquium reports on the 2012 meeting at Luton Hoo Read More

23/02/12

New Insolvency Practice Direction approved

The Chancellor of the High Court's new Insolvency Practice Direction has been approved by the Lord Chancellor and therefore comes into immediate effect today, 23 February 2012 Read More

05/12/11

ILA Annual Dinner and Lecture 2011

On Wednesday 16 November 2011, the President of the ILA, Christopher Mallon, welcomed leading insolvency judges, ILA members and their guests, and sponsors Law Debenture and American Appraisal, to the ILA's 22nd Anniversary Annual Dinner. Read More

03/11/11

R&ILN seminar

On Thursday 3 November, the Restructuring and Insolvency Lawyers' Network co-hosted a seminar entitled "Sports Roundup: A Legal Update" with members of 3-4 South Square and Dundas & Wilson. Read More

21/07/11

Insolvency Service Request to ILA Members

The Insolvency Service has issued a request to ILA Members to provide further evidence to support the case for legislative reform on the subject of Administration Expenses following the Nortel pensions decision. Read More

01/07/11

Insolvency Lawyers' Association's Response to the draft Insolvency (Amendment) (No.2) Rules 2011

Members will be aware of the government's latest proposals to improve transparency in pre-pack sales, and administration sales to connected or associated parties are causing wide concern within the profession. The ILA provided a response, which can be read here. Read More

05/04/11

5th Insolvency Research Conference

The Insolvency Service's 5th annual research conference moved north this year and was hosted by Nottingham Law School ... Read More

26/03/11

ILA Annual Conference 2011

The ILA Annual Conference in Oxford proved once again the association's ability to bring together the profession's leading lights and stimulate debate ... Read More

25/03/11

ILA Academic Colloquium 2011

A glorious Spring day heralded the ILA Academic Colloquium 2011 at the Randolph Hotel in Oxford ... Read More

10/02/11

Consultation on proposals for reforming the regulatory framework for Insolvency Practitioners

The Insolvency Service has launched a consultation on proposals for reforming the regulatory framework for Insolvency Practitioners Read More

06/12/10

ILA President's Column - Welcome To Our Insolvency Academic Members

It gives me great pleasure to announce that, with effect from 1 December 2010, we have taken into our fold the large and energetic community of insolvency academics in the UK. Read More

10/11/10

2010 ILA Annual Dinner: a memorable evening

On Wednesday 10 November 2010, the President of the ILA, Peter Cranston, welcomed leading insolvency judges, ILA members and their guests, and sponsors Law Debenture, to the ILA's 21st Anniversary Annual Dinner ... Read More

22/10/10

ILA President's Column - Some things never change?

As even the indefatigables of the ILA's Technical Committee will now know, summer is over. If any affirmation was needed, the return of the "Alex" cartoons to the pages of the Daily Telegraph provides it amply. But even in that tongue in cheek offering, we can see a snapshot of the broader economic sentiments that "catastrophe has been avoided", but the "outlook is not cheery", with austerity measures on the horizon, and companies and individuals retrenching. Read More

14/10/10

Restructuring and Insolvency Lawyers' Network Seminar

On 14 October 2010, the Restructuring and Insolvency Lawyers' Network hosted a drinks reception and seminar for associate members and prospective associate members of the ILA. Barry Isaacs of 3-4 South Square delivered a fascinating seminar on the anti-deprivation principle. Read More

12/05/10

Inaugural Law Debenture Seminar

On 12th May 2010 a packed house attended the Inaugural Law Debenture Seminar at The London Capital Club. Entitled "Aspects of Financial Restructuring" the panel, chaired by William Trower QC, was ably supported by Read More

08/04/10

ILA President's Column - Maturity and Agelessness

By the time you read this, my first President's column, the ILA will have held its AGM and Annual Conference in Chester, the latter most ably chaired by David Richards J, and members will be grappling with the amended Insolvency Rules which came into effect on 6 April 2010, just in time for the age of austerity predicted to follow the imminent General Election... Read More

27/03/10

ILA Annual Conference 2010 in Chester

The ILA Annual Conference 2010 was held at the Grosvenor Hotel & Spa in the historic city of Chester on Friday 26th March and Saturday 27th March 2010. Deva Victrix, as the city was known in Roman times, was the site of the largest Roman fortress in Britain, situated at a stategic site on a bend in the River Dee. The Chester Grosvenor has been a central part of life in the city since 1866, with its restaurant holding a Michelin star since 1990... Read More

21/01/10

R&I Lawyers' Network Reception

The R&I Lawyers' Network, established to promote the benefits of associate membership of the ILA, was launched at a reception held at The Old Hall in Lincoln's Inn on the evening of 21 January 2010... Read More

21/01/10

President's View - Stephen Davies QC welcomes the new ILA website

It has been a long time coming. It is the product of the vision and hard work of the ILA Council driven by my three immediate predecessors, Ken Baird, Louise Verrill and Ian Field. Within the ILA, the nuts and bolts of the new website have been assembled by a team of hard-working volunteers led by Council member, Justin Bickle working in conjunction with our website providers, Sears Davies. Read More

27/03/09

ILA Conference 2009 in Cardiff Bay

The ILA's 2009 Conference was held at the St. David's Hotel and Spa overlooking the waterfront of Cardiff Bay during the weekend of 27 - 29 March 2009. Read More