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Vol 21 No 9 Sept/Oct 2016

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Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Insolvency and the Enterprise Act 2002: The New Law

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ISBN13: 9780853088110
ISBN: 085308811X
Published: March 2003
Publisher: Jordan Publishing Ltd
Country of Publication: UK
Format: Paperback
Price: Out of print

Part 10 of the Enterprise Act changes insolvency law by providing a new regime for corporate insolvency and restricting the future use of administrative receivership. It abolishes Crown preference, introduce new provisions affecting personal insolvency and make changes to the operation of the Insolvency Service.

The Act reforms corporate insolvency even more radically than the Insolvency Act 1986 by shifting the economic objective of the insolvency remedy from the protection of the interests of debenture holders to those of the company itself and its unsecured creditors. All insolvency practitioners, whether LIPs or lawyers advising them, need to understand the legal changes and their practical effects.

Insolvency and the Enterprise Act 2002 provides a detailed commentary on Part 10 of the Enterprise Act and all of its implications.

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Insolvency Law
Part I - Abolition of Crown Preference
Part II - Corporate insolvency 1
- Administration
New Administration regime (overview)
New Statutory Purposes
Effect of Administration
Court Appointments
Out of Court Appointments (by floating charge holder)
Out of Court Appointments (by Co./directors)
Conduct of Administration
Exit into CVA/Dissolution
2. Administrative Receiverships
3. Sanction for Claw-back Procedings
Part III - Personal Insolvency 1
Automatic Discharge
Income Payments
BROs and BRUs
Relaxation of Prohibitions and Offences
2. IVAs
fast Track IVAs
OR as Supervisor
Part 4 - Miscellaneous