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Bankruptcy and insolvency

In stock

23 February 2011

Law Society Publishing


234 x 156mm
272 pages

Insolvency Law Series

Vernon Dennis


The Insolvency Law Series brings you a set of clear, step-by-step guides to the main statutory insolvency procedures; administration, liquidation and bankruptcy. Written and edited by Vernon Dennis, a leading expert in insolvency law, each book offers:

  • the key advantages of each process over others that may be available
  • a perspective from both the debtor's and creditor's points of view
  • guidance on how the rights and interests of third parties are affected by each process
  • practical advice on how to avoid common errors.

Liquidation is the second title in the series. The liquidation process is central to the UK insolvency regime and is the most common corporate insolvency procedure. The book discusses the development and process of liquidation and how it can be used to balance the interests of the company, its directors and shareholders, and the company's creditors. The book provides the reader with a thorough and chronological analysis of the liquidation process, and in particular examines:

  • the differences between the three types of liquidation: compulsory, creditors' voluntary and members' voluntary
  • pre-commencement considerations for both debtor companies and creditors
  • the process of liquidation post-commencement in light of the powers, duties and obligations of the liquidator
  • the implications of liquidation for directors and for different classes of creditor
  • the various 'exceptions to the rules' such as legislative and judicial checks and balances to ensure fairness and achieve equitable solutions
  • the effects of liquidation and the conclusion of the process.

The book also includes flowcharts, summaries and guides to procedures providing 'at a glance' advice.

Liquidation will prove an invaluable source of reference to those advising companies, directors, creditors and suppliers to businesses considering liquidation.


1. Introduction to liquidation;
2. Voluntary liquidation: commencement;
3. Compulsory liquidation: commencement;
4. The effect of liquidation;
5. The liquidation process;
6. The role, functions and powers of a liquidator;
7. Liquidation and implications for directors;
8. Liquidation and implications for creditors;
9. Ending the liquidation;

About the Author

Vernon Dennis is a highly experienced insolvency lawyer and a partner at Howard Kennedy where he is head of the Corporate Recovery and Reconstruction Service Group. Acting regularly for insolvency practitioners as well as both creditors and debtors his broad ranging practice encompasses both contentious and non-contentious insolvency matters. Vernon is a fellow of R3, The Association of Business Recovery Professionals and a member of the Turnaround Management Association. He lectures regularly and is the author of Administration (Law Society, 2010), Insolvency Law Handbook, 2nd Edition (Law Society, 2007) and co-author of The New Law of Insolvency (Law Society, 2003, now out of print).