Sealy & Milman: Annotated Guide to the Insolvency Legislation 2024 Volume 1 27th Edition

Sealy and Milman: Annotated Guide to the Insolvency Legislation is viewed as the definitive guide to insolvency law. Now in its 27th edition, this annual guide offers practitioners annotated commentary and clarification on the legal and practical implications of the latest insolvency legislation, whether in Acts of Parliament, Statutory Instruments, or relevant Practice Directions, and on the relevant case law.

The new 27th edition published in May and will be followed by an updating supplement in the last quarter of 2024. The updating supplement will be available to purchase separately.

Key Features

• Provides clear, annotated commentary and clarification on the legal and practical implications of current insolvency legislation
• Incorporates sources of both corporate and personal insolvency law
• Reproduces additional statutes and regulations so that all the information needed is in one reliable source
• Volume 1 contains in-depth explanations on the main core legislation, including the Insolvency Act 1986 and the Insolvency (England and Wales) Rules 2016 as amended
• Volume 2 features the Company Directors Disqualification Act 1986, key parts of the Companies Act 2006 (including the new Part 26A) and the post Brexit version of the EU Regulation on Insolvency Proceedings 2015/848 and the Cross-Border Insolvency Regulations 2006. In sum this volume includes the text, in whole or part, of 28 Acts, over 58 Statutory Instruments and a number of practice directions

Main legislative changes - In addition to all key changes since the last edition, the 27th edition now includes:

• amendments by the Financial Services and Markets Act 2023 to the Financial Services and Markets Act 2000 Pt 15 (Financial Services Compensation Scheme) and Pt 24 (Insolvency) with a new scheme on the write-down power of insurance companies' liabilities
• amendment of the Company Directors Disqualification Act 1986 for the introduction by the Finance Act 2024 of a new disqualification regime for directors of certain bodies promoting tax avoidance schemes and by the Economic Crime and Corporate Transparency Act 2023 introducing the initial part of a new regime for director disqualification sanctions
• the Insolvency (ECSC Levy Debts) Regulations 1987 finally revoked by the Retained EU Law (Revocation and Reform) Act 2023.

Key Cases Considered

• Brake v The Cheddington Court Estate Ltd [2023] UKSC 29
• R. (on the application of Palmer) v Northern Derbyshire Magistrates Court [2023] UKSC 38
• The Grove Independent School [2023] EWHC 2546 (Ch)
• Denaxe Ltd v Cooper [2023] EWCA Civ 752)
• Hex Technologies Ltd v DCBX Ltd [2023] EWHC 537 (Ch)
• Invest Bank PSC v El-Husseini [2023] EWCA Civ 555
• Re Pure Zanibar Ltd; Secretary of State for Business and Trade v Barnsby [2023] EWHC 2284 (Ch)
• Re OOO Nevskoe (No. 1) [2023] EWHC 15 (KB)
• Re AGPS Bondco Plc; Strategic Value Capital Solutions Master Fund LP v AGPS Bondco Plc [2024] EWCA Civ 24
• Khan v Singh-Sall [2023] EWCA Civ
• Eternity Sky Investments v Zhenxin's Estate [2023] EWHC 2744 (Ch)
• Patley Wood Farm v Kicks [2023] EWCA Civ 901
• Allen v Mittal [2023] EWHC 920 (Ch)