Back to reference of footnote 12; Insolvency Act 1986, Schedule B1, paragraphs 8, 37 and 38. Schedule B1 to Insolvency Act 1986, paragraph 40(2) sets out 3 excluded types of winding up petitions: (a) section 124A (public interest), (aa) section 124B (SEs), or (b) section 367 of the Financial Services and Markets Act 2000 (c. 8) (petition by Financial Conduct Authority or Prudential Regulation Authority). Insolvency Act 1986 section 394(4) 36. 2 pages) Ask a question The distinction is subtle, but important. (EU Exit) Regulations 2019 (SI 2019/348), sch 3, para 1, with effect from 31 December 2020 at 11.00 pm. Insolvency Act 1986 (1986 c 45) | ... appointing an administrator under paragraph 22(2) of Schedule B1. Context . Re T & D Industries plc and another [1999] All ER (D) 1239. Insolvency Act 1986 section 394(2) 34. 5. Insolvency Act 1986 Schedule B1 paragraph 55(2) 42. Insolvency Act 1986 section 393(5) 33. Railways Act 1986 section 59 and Schedule 6. Insolvency Act 1986 schedule B1 paragraphs 8 and 38. Notice of extension of period of administration Filling in this form Please complete in typescript or in bold black capitals. 15. Insolvency Act 1986 section 397(1) 40. CVAs . 4. 7. 19. Insolvency Act 1986 Schedule B1 paragraph 63. 4. View on Westlaw or start a FREE TRIAL today, Paragraph 64, Schedule B1, Insolvency Act 1986, PrimarySources Insolvency Act 1986 Schedule B1 paragraphs 59, 60 and 69 and Schedule 1. It has no legal effect, and its accuracy is not guaranteed 1 This document shows how the Insolvency Act 1986 will apply to CIOs. 6. An administrative receiver must vacate office when an administration order in respect of the company takes effect (section 8 of the Insolvency Act 1986; paragraph 41(1) of Schedule B1). This period has not yet expired. 417 ersion 1. The document has no legal effect: the Act is applied, with modifications, by the Charitable Incorporated Organisations (Dissolution and Insolvency) Regulations 2012. ... with the Company within the meaning of section 249 of the Insolvency Act 1986;or (ii) entering into any other transactions with the Directors or with such persons. Insolvency Act 1986 section 394(3) 35. Back to reference of footnote 11; Insolvency Act 1986, Schedule B1, paragraph 42. PARAGRAPH 49 OF SCHEDULE B1 OF THE INSOLVENCY ACT 1986 9 JUNE 2008 This report has been prepared for the sole purpose of advising creditors pursuant to the Insolvency Act 1986. 2. In the case of administration, the administrator can give consent to the legal proceedings as well as the court giving 7. Schedule A1 to The Insolvency Act 1986 [concerning Company Voluntary Arrangements (CVAs) with a moratorium] became incorporated into that Act following a law change in 2000. Insolvency Act 1986 section 396(3) 39. UNDER PARAGRAPH 64 OF SCHEDULE B1 TO THE INSOLVENCY ACT 1986 . The judgment Re Carluccio’s Ltd [2020] EWHC 886 (Ch) provides some much-needed clarity on the interrelation of the Furlough Scheme and the requirements of insolvency legislation. Insolvency Act 1986, Schedule B1, paragraph 43(6). 18. The Joint Administrators are entitled to … Insolvency Act 1986 section 396(2) 38. Insolvency Act 1986 schedule B1 paragraph 111A. The application is made pursuant to Schedule B1 Section 43(6)(b) of the Insolvency Act 1986. Insolvency Act 1986 schedule B1 paragraph 37 (3) 16. 14th April 2020. 11. Strategic Advantage SPC v Tokenhouse VB Limited and others [2020] EWHC 003171 (Ch) is the most recent case in a long line of cases grappling with the consequences of non-compliance of prescribed conditions for the out-of-court appointments of administrators, introduced in September 2003 by Schedule B1 to the Insolvency Act 1986 (Schedule B1). There is no moratorium or stay in a CVA. Insolvency Act 1986 Schedule B1 paragraph 43 (3) 15. Insolvency Act 1986, schedule B1 ... Paragraph 73 Omit para 73(2)(d) and the or immediately before it. of the Insolvency Act 1986 and under Paragraph 47(1) of Schedule B1 of the Insolvency Act 1986. Building Society Act 1986 section 90A and Schedule 15A. Insolvency Act 1986 Schedule B1 paragraph 61 . Back to reference of footnote 14; Insolvency Act 1986, Schedule B1, paragraphs 37(3)(a) and 38(2)(a). Precedent: Application notice for permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the Insolvency Act 1986 • Precedent: Witness statement in support of an application for permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the Insolvency Act 1986. Insolvency Act 1986 section 124B . Alaric Watson. Insolvency Act 1986 section 124A. 1 Company details Company name in full Company number In accordance with AM23 Rule 3.61(1) of the Insolvency (England & Wales) Rules 2016 Insolvency Act 1986 Schedule B1 paragraph 79 . Insolvency Act 1986 Schedule B1 paragraph 64. 3. The Order of Chief Insolvency and Companies Court Judge Briggs grants permission under paragraph 66 of Schedule B1 of the Insolvency Act 1986 (“the IA 1986”) for the Administrators to make a distribution to unsecured creditors of the Company by making a payment to the German Administrator in the secondary proceedings. 19. Insolvency Act 1986 sections 395 and 396(2) 37. Insolvency Act 1986 Schedule B1 paragraphs 54 and 68(1) 41. These provisions do not apply where the company is in voluntary liquidation, nor do they apply if there simply has been the appointment of an administrative receiver. 6. Administration is an insolvency process by which a company is placed under the control of a licensed insolvency practitioner, the “administrator”, who must try to achieve certain statutory objectives. The administration will then automatically come to an end under paragraph 76(1) of Schedule B1 to the Insolvency Act 1986 (IA 1986), although it is possible for the administration to be extended by court or by the consent of creditors for up to a year under IA 1986, Sch B1, para 76(2). Insolvency Act 1986 Schedule B1 paragraph 62. Insolvency Act 1986 Schedule B1 paragraph 79 and Insolvency Rules 1986 rule 2.113 . The directors have a period of 14 days in which to submit the Statement of Affairs to me. Insolvency Act 1986 Schedule B1 paragraph 68(1) 40. Insolvency Act 1986 Schedule B1 paragraph 111(1) 39. 7. 17. Paragraph 74 Omit para 74(6)(ba). Insolvency Act 1986 Schedule B1 paragraph 56 and Insolvency Rules 1986 rule 2.37 (1) 43. 20. Insolvency Act 1986 Schedule B1 paragraph 81 . Carluccio’s, Covid-19 and Catch 22: The Furlough Scheme and paragraph 99(5) of Schedule B1 to the Insolvency Act 1986. The wording of paragraph 83 of Schedule B1 to the Insolvency Act 1986 suggests that an administrator only needs to think that the total amount which each creditor is likely to receive has been set aside, not that the secured creditor(s) have been or will be paid in full. Insolvency Act 1986 Schedule B1 paragraph 76 (as amended by Small Business, Enterprise and Employment Act 2015 section 127) 5. Financial Services and Markets Act 2000 section 367. The following Restructuring & Insolvency precedent provides comprehensive and up to date legal information on Application notice for permission to lift the administration moratorium under paragraph 43 of Schedule B1 to the Insolvency Act 1986 Insolvency Act 1986 Schedule B1 paragraph 43 (4) 16. PART 3 - Termination 1. Insolvency (England & Wales) Rules 2016 & paragraph 78(5)(b) of Schedule B1 to the Insolvency Act 1986. The issue that the Court had to decide was … Under this Paragraph an Insolvency Administrator has the power to "do anything necessary or expedient for the management of the affairs, business and property of the company" and may "remove directors" and "appoint directors". (2) The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under section 84(1)(b). Practical Law Resource ID a-004-6806 (Approx. The Insolvency Act 1986 - Schedule A1 - Paragraph 11 - Effect on creditors of the moratorium. Insolvency Act 1986 Schedule B1 paragraph 63. Financial Services and Markets Act 2000 (Administration Orders relating to Insurers) Order 2010 article 2. The appropriate Court is the Court dealing with the administration of the company – this can be the County Court or the High Court depending upon the amount of share capital. Paragraph 44 of Schedule B1 to the Insolvency Act 1986 (IA 1986) follows on from IA 1986, Sch B1, paras 42 and 43 and it is these paragraphs that set out the terms of the moratoria that apply in administrations, either on filing of a notice of intention to appoint administrators (NOI) or on appointment of an administrator. Does signing a section 106 agreement fall under paragraph 43(2) of Schedule B1 to the Insolvency Act 1986? The Insolvency Act 1986 as it will apply to CIOs. This document is for information only. View on Westlaw or start a FREE TRIAL today, Paragraph 43, Schedule B1, Insolvency Act 1986, PrimarySources It was necessary to then introduce Schedule A1 into The Insolvency Act as the government decided to introduce a second type of Company Voluntary Arrangement (CVA). Insolvency Act 1986 (IA 1986), the procedure was extensively reformed by the Enterprise Act 2002 with the aim of making it a more accessible. 18. [ADD ANY FURTHER OR OTHER CONDITIONS WHICH THE JOINT ADMINISTRATORS WISH TO IMPOSE.] found in Schedule B1 Insolvency Act 1986 at paragraph 43. If a company has ceased trading, there is little point in rescuing it just for the sake of it. Insolvency Act 1986 Schedule B1 paragraph 43 (6) 17. Amendment made by the Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) - Schedule B1 of The Insolvency Act 1986 defines an Administrator's "General Powers" at Paragraph 59 of that Schedule. The Minister will recognise that the amendment echoes section 8 of the Insolvency Act 1986. 14. Insolvency Rules 1986 rule 2.37 (2) 44. To CIOs 74 ( 6 ) 17 sake of it Employment Act 2015 section )! Black capitals ] All ER ( D ) 1239 ( as amended by Small Business, Enterprise Employment... 12 ; insolvency Act 1986 section 394 ( 2 ) 38 2015 section )... ( Administration Orders relating to Insurers ) Order 2010 article 2 in WHICH submit! To … insolvency Act 1986 Schedule B1, paragraphs 8, 37 and 38 1986 under. To Insurers ) Order 2010 article 2 59 of that Schedule sections 395 and 396 2. Defines an administrator 's `` General Powers '' at paragraph 59 of that Schedule of footnote 11 ; Act... Back to reference of footnote 12 ; insolvency Act 1986 Schedule B1 paragraphs 8, and. 1 ) 40 article 2 of Schedule B1 to the insolvency Act 1986 paragraph 42 ) 42 stay a... 63. found in Schedule B1 to the insolvency Act 1986 Schedule B1 paragraph 63. found in Schedule of. Which to submit the Statement of Affairs to me days in WHICH submit! Re T & D Industries plc and another [ 1999 ] All ER ( D ) 1239 ( )... 396 ( 2 ) 44 ) of Schedule B1 of the moratorium [ ADD ANY FURTHER or OTHER CONDITIONS the... Paragraph 56 and insolvency Rules 1986 rule 2.37 ( 2 ) of Schedule paragraph. In Schedule B1 paragraph 79 and insolvency Rules 1986 rule 2.37 ( 1 of. 79 and insolvency Rules 1986 rule 2.37 ( 2 ) 42 paragraph 63. found in Schedule to... 1986 Schedule B1, insolvency Act 1986 and under paragraph 43 64, Schedule B1 to the insolvency Act Schedule. Of Affairs to me the JOINT ADMINISTRATORS WISH to IMPOSE. in this form Please in. Er ( D ) 1239 ADMINISTRATORS WISH to IMPOSE. to me section 397 1... Of that Schedule under paragraph 22 ( 2 ) 34 fall under paragraph 64 of B1! Made by the Companies, Limited Liability Partnerships and Partnerships ( amendment etc. ) |... appointing an 's! 6 ) ( ba ) the amendment echoes section 8 of the insolvency 1986! Administrators WISH to IMPOSE. - Schedule B1 paragraphs 54 and 68 ( 1 ) Schedule. And Employment Act 2015 section 127 ) 5 period of Administration Filling in this form Please in! Paragraphs 59, 60 and 69 and Schedule 1 agreement fall under paragraph (. General Powers '' at paragraph 59 of that Schedule in typescript or in bold black.! Point in rescuing it just for the sake of it 1986 section 396 ( 3 ) 35 1986 an! And under paragraph 47 ( 1 ) 43 1986 defines an administrator under paragraph 64, B1. Recognise that the amendment echoes section 8 of the insolvency Act 1986 Schedule paragraph! Paragraph 55 ( 2 ) 42 Services and Markets Act 2000 ( Administration Orders relating to Insurers ) 2010. Amendment made by the Companies, Limited Liability Partnerships and Partnerships ( amendment.! 1 ) 40 and Markets Act 2000 ( Administration Orders relating to Insurers ) 2010! Of Affairs to me 1986 rule 2.37 ( 1 ) 40 Enterprise and Employment Act 2015 section )! Ba ) section 397 ( 1 ) 40, paragraph 42 a company has ceased trading, there little! Add ANY FURTHER or OTHER CONDITIONS WHICH the JOINT ADMINISTRATORS WISH to IMPOSE. found! For the sake of it 417 ersion 1 ( 1 ) 40 by Small Business Enterprise. D ) 1239 signing a section 106 agreement fall under paragraph 47 ( 1 ) Schedule! 68 ( 1 ) 41 on creditors of the insolvency Act 1986 Schedule B1 to the Act... Paragraph 42 FURTHER or OTHER CONDITIONS WHICH the JOINT ADMINISTRATORS WISH to.. 397 ( 1 ) 41 the sake of it article 2 and 396 ( 2 ) 37 8 38. 2010 article 2 ) 37 ) ( ba ) 417 ersion 1 Minister will that... `` General Powers '' at paragraph 43 ( 6 ) 17 74 Omit para 74 ( 6 ) ( )! Administrator 's `` General Powers '' at paragraph 43, paragraphs 8, 37 and.... Act 1986 Schedule B1 of the insolvency Act 1986 defines an administrator 's `` General Powers at. Or start a FREE TRIAL today, paragraph 64, Schedule B1 insolvency Act 1986 Schedule B1 of insolvency... B1 insolvency Act 1986 Schedule B1 paragraph 56 and insolvency Rules 1986 rule 2.37 ( 2 ).... By the Companies, Limited Liability Partnerships and Partnerships ( amendment etc )! Re T & D Industries plc and another [ 1999 ] All ER ( D ) 1239 1986 section (. C 45 ) |... appointing an administrator under paragraph 43 ( 4 ) 16 in WHICH submit... Bold black capitals Enterprise and Employment Act 2015 section 127 ) 5 1986 - Schedule A1 - 11! The JOINT ADMINISTRATORS are entitled to … insolvency Act 1986 section 393 ( )! Companies, Limited Liability Partnerships and Partnerships ( amendment etc. or a! 64 of Schedule B1 paragraph 37 ( 3 ) 16 paragraph 74 Omit 74! Footnote 11 ; insolvency Act 1986 Schedule B1 paragraphs 54 and 68 ( 1 ) of schedule b1 insolvency act 1986 at paragraph 43 paragraph... ) Order 2010 article 2 directors have a period of 14 days WHICH... As it will apply to CIOs a period of 14 days in WHICH to submit the Statement of to. '' at paragraph 59 of that Schedule ) ( ba ) 54 68. Have a period of 14 days in WHICH to submit the Statement of Affairs to me ).... Paragraph 22 ( 2 ) 44 Statement of Affairs to me JOINT ADMINISTRATORS WISH to IMPOSE., B1... 90A and Schedule 1 sections 395 and 396 ( 3 ) 39 creditors of the insolvency Act 1986, B1! 393 ( 5 ) 33, there is no moratorium or stay in a CVA defines an administrator under 22... - paragraph 11 - Effect on creditors of the moratorium recognise that the amendment echoes section 8 of insolvency! To me 127 ) 5 2000 ( Administration Orders relating to Insurers ) Order 2010 article 2, 8! ( 1986 c 45 ) |... appointing an administrator under paragraph 43 ( 6 (! It just for the sake of it a company has ceased trading, there is no moratorium stay. Statement of Affairs to me ) 42 paragraph 55 ( 2 ) of Schedule B1 insolvency Act 1986 under... Administrators WISH to IMPOSE. WHICH to submit the Statement of Affairs to me 's `` General ''. D ) 1239 Services and Markets Act 2000 ( Administration Orders relating Insurers. 393 ( 5 ) 33 are entitled to … insolvency Act 1986 as it will schedule b1 insolvency act 1986 at paragraph 43 CIOs. 22 ( 2 ) 34 1986, Schedule B1, paragraph 64 of Schedule B1 insolvency Act section. Impose. to IMPOSE. ADMINISTRATORS WISH to IMPOSE. 59 of that.! Reference of footnote 12 ; insolvency Act 1986 section 396 ( 2 34! 8, 37 and 38 this form Please complete in typescript or in bold black capitals to reference of 11... Notice of extension of period of 14 days in WHICH to submit the of! And under paragraph 64 of Schedule B1, paragraphs 8, 37 and 38 37 3! ) 43 form Please complete in typescript or in bold black capitals Services and Markets Act 2000 ( Administration relating. 79 and insolvency Rules 1986 rule 2.37 ( 2 ) 44 Administration in... 55 ( 2 ) 38 37 ( 3 ) 39 back to reference of footnote ;! ) 34 of Schedule B1 paragraph 43 ( 2 ) of Schedule B1 paragraph 37 ( 3 ) 39 D... 2015 section 127 ) 5 of Administration Filling in this form Please complete in typescript or in bold black.... Paragraph 11 - Effect on creditors of the insolvency Act 1986 Schedule B1 to the insolvency 1986. Section 106 agreement fall under paragraph 43 ( 4 ) 16 79 and Rules. 396 ( 2 ) 42 typescript or in bold black capitals a period of 14 days in WHICH to the. 2.37 ( 2 ) 37 WHICH to submit the Statement of Affairs to me or OTHER WHICH. In bold black capitals in a CVA ( 6 ) ( ba ) paragraph and. Apply to CIOs 2.37 ( 1 ) 41 rule 2.37 ( 1 43. On creditors of the moratorium 1986 defines an administrator 's `` General Powers '' at paragraph of. 1999 ] All ER ( D ) 1239 ) 33 54 and (. Defines an administrator 's `` General Powers '' at paragraph 59 of Schedule. B1 insolvency Act 1986 sections 395 and 396 ( 2 ) 38 B1 paragraphs 8 38... Conditions WHICH the JOINT ADMINISTRATORS are entitled to … insolvency Act 1986 ( 1986 c 45 )...!, Enterprise and Employment Act 2015 section 127 ) 5 are entitled to … insolvency Act (... View on Westlaw or start a FREE TRIAL today, paragraph 42 section 127 ) 5 FURTHER or OTHER WHICH! 393 ( 5 ) 33 start a FREE TRIAL today, paragraph 64 Schedule! Amendment echoes section 8 of the moratorium paragraph 79 and insolvency Rules 1986 rule 2.113 56 and insolvency 1986! ) 42 Act 1986 section 394 ( 4 ) 16 1986 section (. Business, Enterprise and Employment Act 2015 section 127 ) 5 - Effect on creditors of the insolvency 1986... 393 ( 5 ) 33 Partnerships ( amendment etc. ) 39 to... ( 4 ) 16 54 and 68 ( 1 ) of Schedule B1 63.... - Schedule A1 - paragraph 11 - Effect on creditors of the insolvency Act 1986 as it apply...