Sealy & Milman: Annotated Guide to the Insolvency Legislation 2014

The new 17th edition of Sealy & Milman: Annotated Guide to the Insolvency Legislation 214gives you full coverage, concise analysis and annotated interpretation of corporate and personal insolvency, written by leading expert authors. Widely regarded as the key work for those advising in insolvency, this established legislation handbook provides expert annotated commentary and clarification on the legal and practical implications of the insolvency legislation.

Sealy & Milman includes additional comprehensive commentary on the very latest case law and considers the consequences of these decisions for both corporate and personal insolvency.

New Legislation

Financial Services Act 212 - includes all the detailed changes to Acts and statutory instruments consequential upon the 212 Act.This has involved updating not only the Insolvency Act and Rules and the Companies Acts, but in the legislation on director disqualification, cross-border insolvency, co-operatives, friendly societies, credit unions, building societies, banks and credit institutions, insurance companies, limited liability partnerships and settlement finality, as well as to the Scottish rules of procedure.

The Capital Requirements Regulations 213 have made changes to the finality regulation, the financial collateral regulations and the credit institutions (reorganisation) regulations. In addition, there have been substantial amendments to the TUPE regulations, the new regime for the registration of charges has been extended to limited liability partnerships, a financial threshold has been introduced for the enforcement of charging orders and the new regime for co-operatives is being introduced in stages.

Other legislative changes, which have not yet been brought into force, or which are at the drafting stage or are merely proposals, (such as the out-of-court regime for uncontentious bankruptcy applications, the deregulation measures following recommendations from the Red Tape challenge, and the consolidation of the Insolvency Rules) are explained and discussed at appropriate places in the commentary.

New Cases

The Supreme Court has delivered leading judgments in a number of cases.

Re Nortel, Bloom v Pensions Regulator: on definition of “provable debt”, and more specifically whether a financial support direction under the Pensions Act gave rise to an administration expense or a provable debt.

Rubin v Eurofinance SA: limit imposed on scope of enforcement of foreign judgment in cross-border insolvency cases.

BNY Corporate Trustee Services v Eurosail: revised definition of “insolvency” on a balance-sheet basis.

In the Court of appeal (inter alia):

Re Portsmouth City Football Club, Neumans v Andrinikou: solicitors’ fees as an administration or liquidation expense.

Jetivia v Bilta: extra-territorial reach of fraudulent trading legislation.

In the Scottish Inner House:

Scottish Coal case: neither disclaimer nor abandonment of property recognised in Scots law.

Transform the way you work, with eBooks on ProView™

Thomson Reuters ProView™ is the iPad app custom built for legal professionals like you.

Using ProView means you can connect to and interact with the content you rely on in new ways, wherever and whenever you like.

Search the entire text by keyword

Jump to related content via hyperlinks

Add your own notes, bookmark key pages and highlight important passages

Email, print and share the text

You don’t need to be online to access your eBooks

Your entire library and personalised features are backed up

Learn more about Thomson Reuters ProViewView titles available on Thomson Reuters ProView

You may only order one eBook per title online; to order multiples of eBooks, contact our customer services team or your Sweet & Maxwell Account Manager.

FEATURES & BENEFITSEXPERT AUTHORSHIPLen Sealy is S J Berwin Professor Emeritus of Corporate Law at the University of Cambridge. He has written and lectured extensively in Company and Commercial Law and is General Editor of British Company Law & Practice.

David Milman is Professor of Law at Lancaster University and Professorial Associate at Exchange Chambers. He is also General Co-Editor of Insolvency Intelligence and C