Contents
Foreword;
Preface;
Acknowledgements;
Table of Cases;
Table of Statutes;
Table of Statutory Instruments;
1. Introduction; Legislative background;
2. Overview of Relevant Procedures; Company voluntary arrangement Administration
Scheme of arrangement, Administrative receivership, Interrelationship between the procedures
Summary of basic differences, Eligibility, Control, Protection, Possible objectives;
3. Common Issues; Identifying a solution; Business transfers, Pre-packs, Impact on employees;
4. Administration, Overview and Initial Stages, Overview of the administration process, Administrator, Court appointment process, Who may apply, Process of application, Interim moratorium, Who must receive notice of the application, Urgent cases The requirements that must be met if an administration, order is to be made, Purpose of the administration, Hearing, The range of decisions that the court may make, Differences between court appointment procedure and out
of court appointment procedure, Out of court appointment process, Appointment by the floating charge holder, Conditions, Notice of intention to appoint, Notice of appointment, Notification by fax
Interim moratorium, Invalid appointment, Appointment by the company, Restrictions on appointments, Notice of intention to appoint, Interim moratorium, Notice of the appointment, Invalid appointment, Opening of administration with a CV A as the exit route, Interim moratorium
Interim powers following appointment, Publicity of the appointment;
5. Administration Proposal and Statement of Affairs, Statement of affairs, Preparation of the statement of affairs, Statement of concurrence, Disclosure, Where no statement of affairs, Statement of proposals, Content of the statement of proposals, Limitations on what may be proposed, Submission, Early termination;
6. Creditors' Meetings, General requirements in respect of meetings, Correspondence in place of a creditors' meeting, Chairman, Resolutions, Entitlement to vote, Timing and notification of initial creditors' meeting, Exemption from requirement of an initial meeting, Possible outcomes of the initial meeting, Where proposals, or a revision to them, rejected, Meeting called by creditors, Creditors' committee, Challenge to the administration order, Amendment of the proposals following their approval;
7. Impact of the Administration, Effect of administration on existing procedures, Effect on an existing winding-up petition, Effect on administrative receivership, Effect on other receivers, Moratorium
Protection from winding-up, Protection from the appointment of an administrative, receivership l
Protection from enforcement of security, repossession of, goods, forfeiture and legal processes
Breach of the requirement to obtain consent, Giving of consent by the administrator, or permission by the court, The Atlantic Computers guidelines, Further considerations in an application for permission, Attachment of conditions;
8. Obligations and Entitlements of the Administrator, Relationship with existing management and the company, General duties, General powers, Third parties dealing with the administrator, Disposal of charged or hire-purchase property, Making distributions to creditors, Making of other payments
Treatment of workforce contracts, Administrator's fees and expenses, Challenge to the administrator's conduct of the company, Unfairness or slow or inefficient performance, Misfeasance
Resignation, removal, replacement and substitution of the, administrator;
Resignation;
Removal;
Vacation of office;
Replacement;
Substitution;
Matters to be attended to upon vacation of office, Discharge from liability upon vacation of office;
9. Exit from Administration Proceedings, Possible exit routes, Automatic cessation of administration
Extension of the period of administration, Termination by the court upon the administrator's
Application, Termination by the court on a creditors' application, Discharge of a court ordered administration, Notification requirement , Termination of out of court administration appointment, Conversion to winding-up, Conversion to dissolution, Public interest winding-up, Distributions to creditors prior to winding-up or dissolution;
10. Company Voluntary Arrangements, Overview and Initial Stages, Overview of the CV A procedure
Where no moratorium is required, Where a moratorium is required, Changing roles of the insolvency practitioner, Initial contact, Development of a proposal, Proposal by the company's directors for a CV A without a, moratorium
Proposal by the company's directors for a CV A with a moratorium, Proposal by a liquidator or administrator, Offences by company officers;
11. Contents of the CVA Proposal, Background information Assets Liabilities, Composition or scheme of arrangement, Details of the proposed arrangement, Treatment of creditors, Dividends, Supervisor
Possibility of future liquidation, EU Regulation, Transaction avoidance claims, Fees and expenses
Approaches to default, Variation, Impact of liquidation on the CV A trust, Infringement of public policy, Completion, Presentation of the proposal and statement of affairs, Proposal, Statement of affairs, Nominee's report, Nominee's comments on the proposal, Role of the court, Meetings;
12. Meetings, Timing and location, Calling the meetings, Form of notice J:hairman, Company meeting
Creditors' meeting, Modification of the proposal, Decisions, Approval of the proposal with or without modification, Conclusion of the meetings;
13. Implementation of the CV A Effect of approval, Persons outside the CV A, Impact on winding-up
Impact on co-debtors and sureties, Impact on landlords l, Challenge to the decision of a meeting, Material irregularity, Unfair prejudice, Remedies for unfair prejudice or material irregularity, Variation of the terms of the CV A, Supervisor, Effect of subsequent winding-up;
14. Obligations and Entitlements of the CVA Supervisor, Supervisor, Obligations, Record keeping and reporting, Control and guidance from the court, Potential liabilities of the supervisor, Costs;
15. Exit from CVA Proceedings, Closure of the CV A, Default and termination, Terms of the CV A
Default and exit from proceedings, Steps to be taken upon the CV A ending, Winding-up following the CV A, Effect of liquidation on the CV A trust, Treatment of CV A creditors in liquidation, Treatment of CV A expenses in liquidation;
16. Administrative Receivership Background, Administrative receiverships following the EA 2002
Nature of administrative receivership;
17. Schemes of Arrangement, What may be achieved under this procedure; Overview of the implementation process, Stage One: application, preliminary circulars and meetings, hearing Stage Two: circulation of information and holding of members, and/or creditors meeting(s), Stage Three: sanction hearing and registration, Insurance firm schemes, Mergers and divisions of public companies, Insolvency Act 1986, s.110 reconstruction;
18. Litigation, Overview of transaction avoidance provisions; Transactions at an undervalue
Preferences, Late executed floating charge, Unenforceable liens on book debts, Transaction defrauding creditors, Director liabilities, Limitation period;
19. Outline of the Global Context, Changes to domestic laws, Overview of Chapter 11, its influence and its development;
20. The EU Regulation on Insolvency Proceedings;
21. The UNCITRAL Model Law on Cross-Border Insolvency;
22. Cross-Border Insolvencies at Common Law and under Statute Administration proceedings against foreign incorporated companies, Company voluntary arrangements in respect of foreign
Companies, Co-operation by the English courts in foreign liquidation, s.426 Insolvency Act 1986
Schemes of arrangement;

Index