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Practical guides to organising records and preparing for legal discussions. Browse a topic or search a question.
Insolvency proceedings and an unpaid business debt
The IBC is a statutory insolvency process with consequences for the debtor and creditors collectively. It should not be treated as a guaranteed substitute for an…
BusinessFinancial debt and operational debt under the IBC
Identify the legal nature of the debt from the transaction, not just the label in an invoice or ledger. Different creditor categories have different application…
BusinessAn operational-creditor demand notice
A section 8 demand is a specific statutory step. An ordinary reminder or legal notice should not automatically be assumed to satisfy its requirements.
BusinessA pre-existing dispute and an operational-debt application
Preserve the dispute record from before the statutory demand. A genuine earlier dispute can be material to the operational-creditor route.
BusinessA financial creditor's insolvency application
Evidence of the debt and default is central, but classification and statutory eligibility must also be established. A security document alone may not supply the…
BusinessA company considering its own insolvency application
Assess the corporate applicant's eligibility, authority and current financial position before choosing a process. Internal financial distress does not remove…
BusinessSubmitting a claim in a corporate insolvency process
Read the actual public announcement and current process instructions promptly. A debt being shown in the company's books does not necessarily complete a creditor's…
BusinessThe corporate insolvency moratorium
Read the actual commencement and moratorium order. Its scope, exceptions and relationship to other proceedings must be checked under the current statute.
BusinessThe committee of creditors — understanding the record
Identify the admitted claims, constitution and decision actually recorded. Being a creditor does not automatically mean the same participation or voting rights as…
BusinessThe resolution professional and company records
Preserve and provide records through the authorised process. A change in management under insolvency law does not justify destroying or privately withholding…
BusinessResolution plans and an approved insolvency outcome
Read the approved plan and order rather than relying on an offer summary. Treatment of a claim and implementation obligations can be legally significant.
BusinessTransactions questioned during insolvency
Preserve the complete transaction record and obtain advice before assuming that an earlier transfer is safe or invalid. The statutory category and relevant period…