McPherson & Keay: Law of Company Liquidation, 5th ed

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McPherson & Keay: Law of Company Liquidation, 5th ed

Author Andrew R. Keay
Publication Date September 2021
ISBN 9780414089204
Format
Hardcover
Publisher Sweet & Maxwell

 

This book covers the numerous winding-up procedures as well as the legal issues surrounding corporation liquidation. It addresses the legal factors to be taken into account when petitions from creditors and various other petitions are involved. It defines provisional liquidation, examines the responsibilities of the liquidator and those of the creditors, and discusses how assets are distributed in both insolvent and solvent liquidations. It also examines misconduct and prosecutions, offers advice on investigations and examinations, and describes steps that liquidators might take to recoup assets and the global implications of liquidations.

Important selling points

  • examines the different ways that a corporation can be dissolved, including a thorough general analysis of the procedures for creditors, courts, and members.
  • includes an in-depth analysis of the stay that is put in place on proceedings when a company enters liquidation, as well as a full evaluation of the implications of liquidation on the firm, creditors, members, legal actions, etc.
  • provides a very thorough study of the legal options accessible to liquidators, including those relating to transactional avoidance, improper trading, and directors' duty violations.
  • explains the dissolution procedure and how to reinstate disbanded companies so that they can be liquidated.
  • the EU Insolvency Regulations and the UNCITRAL Model legislation are taken into consideration to provide a study of the international and cross-border aspects of liquidation post-Brexit.

New to this edition

  • It takes into account how Brexit would affect liquidations and the problems that are now facing liquidators in both English and European liquidations that contain an English component.
  • examines the modifications brought forth by the different following legislation, as well as the effects of the Corporate Insolvency and Governance Act 2020 on liquidations.
  • Discusses the Practice Direction: Insolvency Proceedings 2018 and its effects on liquidations where appropriate.
  • explains modifications made to the Insolvency Act of 1986 (HMRC Debts: Priority on Insolvency) Regulations 2020 and the Finance Act of 2020 that affect the criteria for preferential creditors and the reintroduction of a limited Crown priority.
  • New sections are included on the rule in Ex parte James, the effects of restoration following dissolution, applications to subject foreign residents to private examinations, the respondents' private information in the context of private examinations, and special purpose appointment liquidators.
  • The article discusses the most recent significant appellate decisions pertaining to liquidations, such as Bresco Electrical Services Ltd (In Liquidation) v. Michael J. Lonsdale (Electrical) Ltd. (adjudication where a company is in insolvent liquidation), Joint Administrators of Lehman Brothers International (Europe) (in admin.) v. HM Revenue and Customs Commissioners (statutory interest payable to creditors on their debts owed), and Botleigh Grange Hotels Ltd (who may apply to remove a liquidator and restoration of dissolved companies), BTI 2014 LLC v. Sequana SA (section 423 and duty to consider creditors' interests), Skandinaviska Enskilda Banken AB v. Conway (avoidance provisions), Ezair v. Conn (collection of company property and private examinations), JSC BTA Bank v. Ablyazov (transactions defrauding creditors), Leon v. Attorney-General (disclaimer and dissolution), Re Paramount Powders ( (invalidation of charges).

CONTENTS Of McPherson & Keay: Law of Company Liquidation, 5th ed

Chapter 1 - Introduction
Chapter 2 - Modes of Winding Up
Chapter 3 - Creditor’s Petition for a Winding-up Order
Chapter 4 - Contributory’s Petition
Chapter 5 - Miscellaneous Other Petitions
Chapter 6 - Provisional Liquidation
Chapter 7 - Commencement and Effect of Winding Up
Chapter 8 - Administrative Organs of Winding Up
Chapter 9 - Functions of the Liquidator
Chapter 10 - Contributories
Chapter 11 - Assets Available for Division and Distribution
Chapter 12 - Creditors
Chapter 13 - Division of Assets Among Creditors
Chapter 14 - Distribution of Surplus Assets
Chapter 15 - Investigations and Examinations
Chapter 16 - Misconduct and Prosecutions
Chapter 17 - The Conclusion of Winding-up Proceedings
Chapter 18 - International Aspects of Liquidations


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