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The Insolvency Law Handbook is essential for professionals called upon to advise debtors faced with personal or corporate insolvency, or their creditors.

It explains the insolvency process - looking at each of the various procedures in turn, highlighting the decisions to be made, the options available and the potential pitfalls.

This fourth edition of the Handbook has undergone radical revision. The overhaul of the Insolvency Rules has significantly changed much insolvency process and procedure since the last edition.

The book also covers the Reforms of the Small Business, Enterprise and Employment Act 2015 and the consequent significant amendments to the Insolvency Act 1986. It details the emergency and permanent legislative response to the Covid-19 pandemic, covering the Corporate Insolvency and Governance Act 2020 and the new procedures introduced including the new style moratorium and restructuring plan. The book also deals with the impact on cross-border insolvency post Brexit and includes a huge array of new case law including changes to administration and out of court appointments, pre-pack sales, and wrongful trading.

The book provides straightforward, practical guidance offering:

• coverage on both corporate and personal insolvency;
• the options available and key decisions that need to be made by the debtor and creditor when facing financial distress or an insolvency situation;
• a step-by-step guide through each of the main insolvency processes; and
• checklists and flowcharts.

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Reviews

Already, this book has been invaluable to me, in preparing advice on both individual voluntary arrangements and company voluntary arrangements. This new edition is particularly pertinent as it was developed and published during a period of great uncertainty for businesses. The Corporate Insolvency and Governance Act 2020 introduced new measures and techniques which are extensively covered here.

Christina Fitzgerald is a Partner at Edwin Coe LLP and the Vice-President of R3

In summary, the broad scope of the handbook provides some excellent practical insights into both the established and new procedures. It also takes into account the dynamic legal developments that have been present over the last year in part driven by the COVID-19 pandemic. The handbook covers the material in a concise and clear format which is accessible to junior lawyers and will also be welcomed by the more experienced practitioners.

Gabrielle Ruiz, Knowledge Director, Global Restructuring & Insolvency Practice, Clifford Chance LLP

Contents

1. Preliminary considerations; 2. Advising a personal debtor; 3. Advising a corporate debtor; 4. Advising a creditor in the case of an insolvent personal debtor; 5. Advising a creditor in the case of an insolvent corporate debtor; 6. The bankruptcy process; 7. The administration process; 8. The receivership process; 9. The liquidation process; 10. The debtor’s position during the personal insolvency process; 11. The debtor’s position during the corporate insolvency process; 12. The creditor’s position during the personal insolvency process; 13. The creditor’s position during the corporate insolvency process; 14. The future of insolvency law and practice. 

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About the Author

Vernon Dennis is a partner at Howard Kennedy where he is head of the Business Recovery and Reconstruction group. With over 25 years’ experience in insolvency, creditor recovery and debtor reconstruction, he now specialises in strategic and advisory support for company boards when planning programmes of business turnaround, restructuring, or transformation. He is a fellow of R3 (the Association of Business Recovery Professionals) and has written a series of works for the Law Society’s insolvency law series.