United Kingdom: Insolvency/Bankruptcy

The FCA has published details of its turnaround times over Christmas and New Year for reviewing documents, giving guidance and processing listing applications.

Companies House has announced that a GOV.UK One Login is now the main sign-in option for users when accessing the Find and update company information service through their Companies House account.

Understanding how to check your UK immigration status online is essential for proving your right to work, rent, or travel. This comprehensive guide explains the eVisa system, UKVI accounts, share codes, and what to do when digital records don't match your actual immigration permission.

The High Court has allowed an application by the administrators of a company under section 234 Insolvency Act 1986 (IA 1986) requiring a bank to deliver up funds held in the company’s bank account: Laverty v Barclays Bank plc [2026] EWHC 1222 (Ch).

The Court of Appeal has partially reversed a High Court decision in a case examining whether a chargee's appointment of administrators was invalid due to improper purpose, specifically where debt acquisition followed a failed takeover bid. The judgment clarifies the boundaries of Braganza-style rationality duties in secured lending enforcement and explores when the equitable 'proper purpose' doctrine may constrain a creditor's right to appoint administrators under Schedule B1 of the Insolvency Act 1986.

The UK Part 26A restructuring plan has emerged as a potential alternative to Chapter 11 bankruptcy for distressed companies with international operations. This episode examines how Part 26A compares to traditional U.S. bankruptcy proceedings, including differences in creditor voting, cramdown provisions, court oversight, and the strategic considerations companies must weigh when selecting their restructuring forum.

Insolvency remains a significant challenge for the UK construction industry, with the number of company insolvencies on an upward trend and still at levels last seen during the 2008-09 recession.

Private credit lenders face a new reality as U.S. distressed borrowers increasingly turn to English restructuring tools to reorganize New York law-governed debt outside of Chapter 11. Recent cases demonstrate how Schemes of Arrangement and Restructuring Plans can bind dissenting creditors, reduce minority creditor influence, and potentially circumvent the absolute priority rule. Understanding these cross-border mechanisms has become essential for lenders navigating modern restructuring dynamics.

Macfarlanes has successfully advised Iguanas Holdings Limited on a groundbreaking restructuring plan under Part 26A of the Companies Act 2006, marking the first such plan sanctioned under the Court's new Practice Statement. The restructuring addresses lease and business rates liabilities while facilitating new funding from its parent company to support the Latin American restaurant chain's turnaround strategy.