This title discusses the legal considerations involved in company liquidation and addresses the various methods of winding-up. It covers the legal considerations to be taken into account in relation to creditors' petitions and miscellaneous other petitions. It explains provisional liquidation, analyzes the role and duties of the liquidator as well as the role of creditors, and addresses the distribution of surplus assets in solvent liquidations. It also provides guidance on investigations and examinations and discusses misconduct and prosecutions.
New to this edition
- Reference to and examination of the new rules – Insolvency Rules 2016 – in all aspects of liquidation and associated elements of insolvency law
- The chapter on international liquidations is expanded significantly to take account of many developments in the case law in cross-border insolvency, including the decision in Singularis, and the advent of the recast version of the EU Insolvency Regulation
- Extensive analysis of the Akers v Samba Financial Group (Supreme Court) and Express Electrical Distributors Ltd v Beavis (Court of Appeal) cases in relation to s.127 (avoidance of post-petition dispositions)
- Consideration of the relevant aspects of the Waterfall litigation in Lehman Bros and especially the Supreme Court decision in The Joint Administrators of LB Holdings Intermediate 2 Ltd v the Joint Administrators of Lehman Brothers International (Europe)(2017)
- Updating to take account of amendments to the Insolvency Act 1986 brought about by the Small Business, Enterprise and Employment Act 2015.
- Examination of the Court of Appeal decisions in County Leasing Asset Management Ltd v Hawkes and Pickering v Davy as far as the restoration of dissolved companies is concerned
- Consideration of the Supreme Court decision in Nortel GmbH as far as it affects the disposition of the insolvent estate
- Discussion and explanation of the decision-making process provided for by the Insolvency Act and Rules
- Developments in the case law as is affects transactional avoidance and wrongful trading
- Discussion of changes brought about by the Commercial Rent Arrears Recovery (CRAR) in relation to liquidations