Personal Insolvency: A Practical Guide

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REUTERS/Jo Yong-Hak

NEW 4TH EDITION

PERSONAL INSOLVENCY: A PRACTICAL GUIDE Richard Floyd, Frank Brumby and Simon Knight

SWEET & MAXWELL


NEW 4TH EDITION

PERSONAL INSOLVENCY: A PRACTICAL GUIDE Richard Floyd, Frank Brumby and Simon Knight

This new fourth edition presents a detailed explanation of the legal framework of personal insolvency, with expert commentary and practical guidance on current insolvency law across all variations of personal insolvency.

COVERAGE

KEY UPDATES FOR THE 4TH EDITION

CONTENTS

APPENDICES:

ABOUT THE AUTHORS

• Deals with all major facets of personal insolvency law including bankruptcy, individual voluntary arrangements (IVAs) and procedures such as debt management

The new edition has been fully updated to reflect the Insolvency (Amendment) Rules 2012 and also references the Statements of Insolvency Practice (SIP) precedents and practice directions.

• Types of Personal Insolvency

• Schedule 4ZA Part 1 and 2

• The Bankruptcy Petition

• Art 3 of the EC Reg

• The Bankruptcy Order

• List of County Courts with bankruptcy jurisdiction

• Considers the roles of the Official Receiver and the trustee

You will find detailed coverage of the insolvency provisions of the Enterprise Act 2002 and the changes from the new Insolvency Rules as applicable to personal insolvency. Also featured are relevant parts of the Enterprise Act 2002, the EC Regulation on Insolvency Proceedings, and the Cross-border Insolvency Regulations and the UNCITRAL Model Law.

• Licensing and Regulation

Richard Floyd has been an insolvency practitioner since licensing began in 1986 and before that had substantial experience in dealing with insolvency matters. He has acted as Trustee in Bankruptcy in many cases, Supervisor of voluntary arrangements and also as liquidator, administrator and receiver.

BRAND NEW CHAPTERS

• Insolvent Partnerships

In addition there are several brand new chapters dealing with areas including:

• Closing Procedures, Release and Costs

• Cross-border insolvency

• Scotland

• New rules in relation to discharge from bankruptcy and Bankruptcy Restriction Orders and Undertakings

• Northern Ireland

• Covers issues relating to insolvent partnerships • Examines realisation of assets, from business assets and the matrimonial home to exempt assets and pensions • Deals with creditors’ claims, bankruptcy costs and protection of creditors • Reviews the position of the bankrupt, including disabilities, offences and discharge • Takes into account death and the insolvent estate • Goes through closing procedure and costs • Includes coverage of Scotland, Northern Ireland, the Republic of Ireland and Channel Islands • Sets out a selection of forms and precedents • Explains key parts of legislation

• Regulatory aspects for insolvency lawyers and solicitors • New debt management procedures

• The Official Receiver • The Trustee • The Bankrupt • Realisation of Assets • Creditors’ Claims and Bankruptcy Costs • Protection of Creditors • Voluntary Arrangements • Death and the Insolvent Estate

• Cross Border Problems

• Republic of Ireland • Jersey • Guernsey

• Relevant extracts from PDIP relating to personal insolvency • Grounds of objection to bankruptcy petition • Notice of Intention to Appear • Certificate of Continuing Debt • Notice of Adjournment and certificate • List of SIPs • Rule 6.78A of the Insolvency Rules 1986 • Effects of BRO • Annulment application • Annulment Order • Application by trustee for sale of matrimonial home

Frank Brumby is a solicitor and licensed insolvency practitioner (non appointment taking) providing professional legal advice in all aspects of corporate and personal insolvency, bank recovery, property and commercial litigation. He is also a regular speaker at national conferences on the subject. Simon Knight has specialised in insolvency since 2005 and is a licensed insolvency practitioner. He has broad experience in all types of formal and informal insolvency processes.

• Notice to bankrupt of application for income payments order • Order for income under s310 (3)(a) • Order for income under s310 (3)(b) • Consent to Amendment of Proof of Debt form • Notice of Dividend • Meaning of “associate” • IVA proposals • Nominee’s report • Statement of affairs • Notice to nominee and nominee’s consent to act • Notice of creditor’s meeting • Proxy form • Statement of deceased’s affairs (12.25) • List of EU Member States

July 2012 Hardback ISBN: 9780414022690 £180 / €229


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Systematically goes through the formalities and court practice

Looks at the entitlements of office holders to remuneration, costs and expenses, as well as consideration of costs orders in insolvency proceedings

Deals with misfeasance proceedings , including who may bring them and who may be liable

Covers fraudulent and wrongful trading, with coverage of the practical considerations and definitions

Considers three types of transactions which may be challenged on an application to court by a liquidator or administrator: transactionsat-undervalue, preferences and transactions defrauding creditors

Examines set-off, first by explaining the principles then by looking at it in the context of summary judgment, receivership, administration, bankruptcy and insolvency, and voluntary arrangements

Reviews the assertion of liens in formal insolvency proceedings

Assesses the legal basis upon which an applicant, including a shareholder, might seek a winding-up petition

Sets out the basis under which the court will exercise its powers to order officers of a company and other persons to provide information about its business, assets and affairs to an office-holder

Summaries the basic principles relevant to international or cross-border insolvency

Provides analysis of the relevant case law and statutes

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