Certificate in Banking Law, Practice and Bankruptcy

Size: px
Start display at page:

Download "Certificate in Banking Law, Practice and Bankruptcy"

Transcription

1 Session 01 Friday MODULE 1 Introduction and Background of Banking Law in Ireland The introductory session will consider the current economic market, recent trends and what the market holds for the future in shrinking banking market including the following; The domestic banking market, capital requirements, the impact of NAMA and other developments; the new insolvency and bankruptcy legislation and the impact this may have on banking law and practice going forward. Lecture 2 & 3 Regulation of Banking in Ireland and discuss on-going supervision, Banking Codes of practice. Banking Codes of Conduct such as: Consumer Protection Code, Code of Conduct for Business Lending to Small and Medium Enterprises; and Code of Conduct on Mortgage Arrears. Recent developments. The spirit and main provisions of each code, how banks are implementing the codes, the interpretational difficulties/challenges faced by banks and the consequences for non compliance will be considered. 6 hrs () Key principles of data protection law and anti money laundering legislation. An overview of both practical and financial aspects of formal and informal restructuring. Practical overview of day to day duties of a liquidator and receiver. MODULE 2 - Security Reviews: Legacy Issues and New Lending Lecture 6 An introduction to secured lending: (1) loan /agreements types, commercial v. consumer lending, important terms and conditions (2) security types of security (mortgages, floating charges) including quasi security (set off, retention of title) (3) effect of NAMA on secured lending from a practitioner s point of view.

2 Session Security reviews from a borrower s perspective Acting for a Borrower - main points: Type of borrower Is the Borrower a consumer? Full recourse/limited recourse? Personal liability, joint and several liability; limited recourse guarantees; oral representations inconsistent with the written contract; is the security a family home? Is deed stamped? Is the loan repayable on demand and if not is there an Event of Default ; If the security is the Borrowers principal private residence has the Code of Conduct on Mortgage Arrears been applied; Limitations on recourse; Disclosure data access requests a powerful weapon; Cross default clauses; Unfair Terms. New Lending: Acting for a Borrower Reviewing a loan offer when acting for a Borrower (main terms to highlight - term, interest margin, security required, events of default, repayment, covenants and conditions); taking security from a company corporate authority, certificates, board resolutions, review of Memorandum and Articles; what about clients with property/assets overseas? Security reviews from a bank s perspective Acting for a bank/lending institution: types and purpose of a security review, documents to be reviewed (loan agreement, and security documents mortgages, guarantees) identifying security defects (section 31 & 60 issues, defective execution, failure to register) bearing on enforceability and security remediation (late filings) taking steps to ensure enforceability, common defects; issue of priority and negative pledge clauses. Crystallisation of floating charges; Issues to be dealt with post appointment by receiver s solicitor; Review of other security documents including assignments of life policies; set-off rights - types and is notice required?, recent trends; 5 hrs MODULE 3 - Restructuring & Refinancing Restructuring: Acting for a Bank Acting for a bank or lending institution in relation to the following; Reviewing a statement of affairs, ongoing review of loans; loan acquisition debt engagement and repayment; So called Equity releases and restructuring accounts, company loans and provision of security (section 31 issues) ascertaining the purpose for which monies used, future liabilities.

3 The provision of Legal Opinions where your client is entering into security over a foreign asset; Instructing, reviewing and relying on foreign legal opinions where you are acting for an Irish Bank providing a loan to or taking security from a foreign company over an Irish asset, qualifications on such opinions; Advising clients working with NAMA. New Lending: Acting for a bank or lending institution Acting for a bank or lending institution - Overview of current PI insurance position, prohibition on undertakings in commercial property transactions, current forms of certificate of title for residential and commercial lending. Registration in Companies Office overview of issues for banks when taking security. Section 99 Companies Act 1963, Registration in PRA Forms 113 and 114. Session 03 Friday Dealing with NAMA from a practical perspective. Restructuring: Acting for a Borrower Practitioners will learn the important steps in due diligence and will obtain the knowledge required to advise on drafting a debtor business plan; Conducting negotiations with the bank, repayment plans. Dealing with customer complaints relating to financial products Financial Services Ombudsman (FSO) Recent trends increase in complaints being investigated by the FSO; Typical complaints interest rates, oral agreements; Bank s procedure investigations advising a bank; Jurisdiction and procedure of the FSO; Witness statements; Dealing with employees and former employees; Power of disclosure; Right to an oral hearing; Appeals to the High Court on points of law; Mediation as an alternative when a bank should chose mediation over adjudication. 5 hrs MODULE - Termination: Enforcement of Security and Receivers An overview of enforcement of security options from a Bank s perspective and a borrower s perspective. Acting for the Receiver - Including advising a receiver appointed by NAMA mainly differentiated as they will be statutory receivers under the NAMA act 2009; NAMA drafted deeds of appointment, powers of a NAMA appointed receiver.

4 Session Lecture 6 Mortgage in Possession Appointment of a receiver what happens and when; What are the steps? Judgment mortgages priority issues; Well charging orders, possession and sale. Enforcement of Guarantees where Guarantors were joint and several are of unequal covenant strength. Enforcement of Judgments against Companies & Individuals. Revenue Debt. Solicitors Undertakings. Potential liability for Receivers. Contractual & Equitable Remedies. Overview of enforcement of security against companies. Effect of liquidation on a bank; dealing with a liquidator, timing, options available for a bank in terms of engaging the liquidator to secure and realise secured assets, attending and voting at meetings; liquidator obligations to bank, rights and powers of liquidator viz a bank; Schemes of Arrangement. Examinerships and their effects on banks how to deal with banks when a borrower seeks court protection; challenge by banks to petitions and grounds for mounting such challenges recent case law; Preparing Schemes of Arrangement; Dealing with an Examiner when drafting a Scheme; Priority of debts; Section 10 certificates; Write down of secured debts; Dealing with guarantors; Unfair prejudice test; Post-examinership relationship with liquidation. Professional negligence claims What is the SOL for suing solicitors for negligence or breach of contract; Proofs; Expert report; Discovery; Mediation as an alternative dispute resolution method. Issues regarding defective certificates of title and avenues of redress by the bank. 6 hrs

5 Acting for the bank appointing a receiver Receiverships erally - Pre enforcement issues; Checklist; Codes of conduct complied with; Calling events of default or on demand facility, drafting, issuing and serving letters of demand; Dealing with borrowers evading service; Set off rights; Does the Bank have a contractual Power to appoint a receiver (Start Mortgages, Lynch v. Kavanagh) Invitation to appoint; What are the required time periods before appointment; Overlap with examinership 3 day rule and relationship with liquidation; Drafting deed of appointment of receiver, filings; Colaterisation; Types of Receivers and powers of receivers; Dealing with receiver s solicitor; Implications for company; Dealing with contentious borrowers resisting enforcement; Trends here and in UK such as fixed asset receivers and pre pack receiverships; Lecture 6 Session Lecture 9.30am am will be webcast Commercial litigation from a banks perspective Recent trends, guarantees general principles, common defences being mounted to guarantees misrepresentation, extinguishment proofs, professional negligence claims against solicitors and auctioneers, breach of contract, mis-selling of financial products, negligent lending, managing such litigation. 1hr Session 06 Friday Workshop NOT Webcast 10.30am 1.30am Workshop NOT Webcast 2pm 5pm Workshop I Interactive session onsite attendance required as not webcast. Workshop II Interactive session onsite attendance required as not webcast. Module 5 Personal Insolvency and A Commercial and banking considerations, security reviews, facility offers and letters, guarantees, personal guarantees, secured and unsecured debts, creditors, objections, practical considerations. 2.5hrs & 1 hr M&PD 2.5hrs & 1 hr M&PD 6 hrs

6 &3 Overview of the Personal Insolvency Act 2012: the role, aim and obligations of the Personal Insolvency Practitioner, the Insolvency Service, proposals for Arrangements, debt relief notices, debt settlement arrangements, personal insolvency arrangements, assets, the family home, post Arrangement. Creditors meetings and enforcement options for Creditors. The MARP Process, Preinsolvency issues, Codes, Consumer Credit Acts and key points for consideration., 5 & 6 Law. Practice and procedures. Acts of bankruptcy, proceedings, adjudication, post bankruptcy, assets, pensions, the family home, buy to let properties, potential conflicts of interest. Procedures and Rules. tourism. Short case study. Session and Personal insolvency from a practical perspective. Recent case-law and developments. From a Creditor s perspective: Review of debt settlement arrangements and personal insolvency arrangements both secured and unsecured debts; challenges, concerns and some uncertain aspects the new debt arrangements present to creditors; protections afforded to creditors and options open to creditors when challenging a debt settlement arrangements/personal insolvency arrangements; drafting and presenting proposals as part of a debt settlement arrangement/personal insolvency arrangement. Dealing with from the Creditors perspective. 3 hrs The practical aspects from the debtors perspective Workshop Workshop III - Interactive session onsite attendance required as not webcast. 2.5hrs & 1 hr M&PD Assignment (Word Limit 2,500 words) *PLEASE NOTE THAT TOPICS/SPEAKERS MAY BE SUBJECT TO CHANGE

INSOLVENCY AND CONTRACTS

INSOLVENCY AND CONTRACTS INSOLVENCY AND CONTRACTS In-house Lawyers Group Seminar Joanna Clark DLA Piper Scotland LLP 19 March 2015 What are we talking about? Insolvency basics Effect of insolvency on contracts Post-insolvency

More information

Corporate restructuring guidelines Insolvency

Corporate restructuring guidelines Insolvency Corporate restructuring guidelines Insolvency Prepared by: 1 Whitney Moore Published by: Irish Business and Employers Confederation 84-86 Lower Baggot Street Dublin 2 Date of publication: April 2010 Author:

More information

Personal Insolvency Service

Personal Insolvency Service Personal Insolvency Service W.O. McGrory & Co offers a specialist service to individuals and company directors experiencing personal financial problems that need the assistance of professional intervention.

More information

An Overview of UK Insolvency Procedures and the Considerations for Banks with an Insolvent Customer

An Overview of UK Insolvency Procedures and the Considerations for Banks with an Insolvent Customer An Overview of UK Insolvency Procedures and the Considerations for Banks with an Insolvent Customer November 2011 1 An Overview of UK Insolvency Procedures and the Considerations for Banks with an Insolvent

More information

Insolvency and. Business Recovery. Procedures. A Brief Guide. Compiled by Compass Financial Recovery and Insolvency Ltd

Insolvency and. Business Recovery. Procedures. A Brief Guide. Compiled by Compass Financial Recovery and Insolvency Ltd Insolvency and Business Recovery Procedures A Brief Guide Compiled by Compass Financial Recovery and Insolvency Ltd I What is Insolvency? Insolvency is legally defined as: A company is insolvent (unable

More information

Glossary of terms. Bond Quasi fidelity insurance needed by a person who acts as an insolvency practitioner.

Glossary of terms. Bond Quasi fidelity insurance needed by a person who acts as an insolvency practitioner. Glossary of terms Administration Order a) A Court order placing the company that is, or is likely to become, unable to pay its debts under the control of an administrator following an application by, inter

More information

TYPES OF INSOLVENCY PROCEDURES

TYPES OF INSOLVENCY PROCEDURES MODULE ON INTRODUCTION TO INSOLVENCY PROCEDURES Presented By Jim Stafford Friel Stafford Corporate Recovery TYPES OF INSOLVENCY PROCEDURES Informal Scheme of Arrangements Members Voluntary Liquidation

More information

THE LAW OF COMPANY INSOLVENCY

THE LAW OF COMPANY INSOLVENCY THE LAW OF COMPANY INSOLVENCY (2ND EDITION) MICHAEL FORDE B.A. (Mod.) and LL.B (Dublin), LL.M (Brussels), Ph.D. (Cantab.), of King's Inns and Middle Temple Senior Counsel HUGH KENNEDY A.B. (Princeton),

More information

Forms of Corporate Insolvency

Forms of Corporate Insolvency Forms of Corporate Insolvency There are five categories of insolvency procedure for companies: Company Voluntary Arrangement; Administration; Administrative Receivership; Creditors Voluntary Liquidation;

More information

Business lawyers who speak your language...

Business lawyers who speak your language... www.vyman.co.uk Business lawyers who speak your language... Vyman is a young, dynamic law firm, established in 1998 having now grown to a complement of three offices: Harrow, Gravesend and Medway. If you

More information

PIA. Guide to a Personal Insolvency Arrangement

PIA. Guide to a Personal Insolvency Arrangement nseirbhís Dócmhainneachta na héirea PIA Guide to a Personal Insolvency Arrangement n Insolvency Service of Ireland A Personal Insolvency Arrangement enables an eligible insolvent debtor to reach agreement

More information

Code of Conduct for Business Lending to Small and Medium Enterprises

Code of Conduct for Business Lending to Small and Medium Enterprises 2012 Code of Conduct for Business Lending to Small and Medium Enterprises Scope This Code applies to all business lending by regulated entities. This Code shall not apply to Credit Unions. Credit Union

More information

DSA. Guide to a Debt Settlement Arrangement

DSA. Guide to a Debt Settlement Arrangement nseirbhís Dócmhainneachta na héirea DSA Guide to a Debt Settlement Arrangement n Insolvency Service of Ireland A Debt Settlement Arrangement enables an eligible insolvent debtor to reach agreement with

More information

The Scheme attempts to address these objectives by two main mechanisms;

The Scheme attempts to address these objectives by two main mechanisms; The Personal Insolvency Bill The Personal Insolvency Bill which is due to be enacted in the coming months is likely to bring about a significant change in relation to how personal debt liabilities are

More information

Assets Anything that belongs to the debtor that may be used to pay his/her debts.

Assets Anything that belongs to the debtor that may be used to pay his/her debts. This is a brief explanation of some of the terms you may come across in debt and insolvency proceedings. Please note that this glossary is for general guidance only. Many of the terms have a specific technical

More information

INTERNATIONAL LAWYERS A GUIDE FOR AND CLIENTS

INTERNATIONAL LAWYERS A GUIDE FOR AND CLIENTS INTERNATIONAL LAWYERS A GUIDE FOR AND CLIENTS The Chancery Bar Association was established in 1935 and is the oldest specialist bar association in England and Wales. In addition to its 1,200 members who

More information

Institute of Directors

Institute of Directors Institute of Directors Companies facing difficulties Options for Directors Michael McAteer March 2015 Options for companies facing difficulties Insolvency options Receivership Provisional liquidation Court

More information

The Code of Conduct for Business Lending to Small & Medium Enterprises Information Booklet

The Code of Conduct for Business Lending to Small & Medium Enterprises Information Booklet The Code of Conduct for Business Lending to Small & Medium Enterprises Information Booklet The Code of Conduct for Business Lending to Small and Medium Enterprises Information Booklet. Please read this

More information

Code of Conduct for Business Lending to Small and Medium Enterprises

Code of Conduct for Business Lending to Small and Medium Enterprises Code of Conduct for Business Lending to Small and Medium Enterprises February 2009 Code of Conduct for Business Lending to Small and Medium Enterprises Scope This Code applies to all business lending by

More information

A Guide to a Debt Settlement Arrangement ( DSA )

A Guide to a Debt Settlement Arrangement ( DSA ) A Guide to a Debt Settlement Arrangement ( DSA ) May 2013 Contents Introduction... 2 What is a DSA?... 2 Eligibility... 3 What Type of Debts may or may not be included in a DSA?... 4 The DSA Process...

More information

Information Booklet for Small and Medium Enterprises in Financial Difficulty

Information Booklet for Small and Medium Enterprises in Financial Difficulty Information Booklet for Small and Medium Enterprises in Financial Difficulty This Information Booklet applies to Finance Ireland Credit Solutions Ltd t/a Finance Ireland Commercial Mortgages and Finance

More information

Bermuda. Jonathan Betts and Sarah-Jane Hurrion Cox Hallett Wilkinson Limited. Country Q&A. Restructuring and Insolvency Handbook 2011/12.

Bermuda. Jonathan Betts and Sarah-Jane Hurrion Cox Hallett Wilkinson Limited. Country Q&A. Restructuring and Insolvency Handbook 2011/12. Restructuring and Insolvency Handbook 2011/12 Bermuda Jonathan Betts and Sarah-Jane Hurrion Cox Hallett Wilkinson Limited www.practicallaw.com/9-505-8289 FORMS OF SECURITY 1. What are the most common forms

More information

The Foundation of the International Association of Defense Counsel SURVEY OF INTERNATIONAL LITIGATION PROCEDURES: A REFERENCE GUIDE

The Foundation of the International Association of Defense Counsel SURVEY OF INTERNATIONAL LITIGATION PROCEDURES: A REFERENCE GUIDE Responses submitted by: Name: Roddy Bourke Law Firm/Company: McCann FitzGerald Location: Dublin, Ireland 1. Would your jurisdiction be described as a common law or civil code jurisdiction? The Republic

More information

Insolvency and enforcement procedures in England & Wales

Insolvency and enforcement procedures in England & Wales Insolvency and enforcement procedures in England & Wales Contents Introduction...01 Company Voluntary Arrangement (CVA)...02 Scheme of Arrangement (Scheme)...05 Administration / Pre-pack Administration...08

More information

DEBT. Law guide - Debt, bankruptcy & liquidation

DEBT. Law guide - Debt, bankruptcy & liquidation DEBT Law guide - Debt, bankruptcy & liquidation Contents Bankruptcy... 3 Arrangements with debtor... 6 Alternatives to bankruptcy... 8 Liquidation... 10 Distribution of assets... 11 Alternatives to liquidation...

More information

Business Debtline www.businessdebtline.org 0800 0838 018 BANKRUPTCY

Business Debtline www.businessdebtline.org 0800 0838 018 BANKRUPTCY BUSINESS DEBTLINE Business Debtline www.businessdebtline.org 0800 0838 018 BANKRUPTCY FACT SHEET NO. 10 NORTHERN IRELAND What is bankruptcy? Bankruptcy is a way of dealing with debts that you cannot pay.

More information

The Commonwealth of The Bahamas comprises over 700 islands and cays,

The Commonwealth of The Bahamas comprises over 700 islands and cays, The Bahamas Alexiou Knowles & Co and PricewaterhouseCoopers The Bahamas Emerick A Knowles, partner Alexiou Knowles & Co Clifford A Johnson, partner PricewaterhouseCoopers The Commonwealth of The Bahamas

More information

Insolvency & Debt Recovery Glossary of Terms

Insolvency & Debt Recovery Glossary of Terms Insolvency & Debt Recovery Glossary of Terms Administration An insolvency procedure in which an Administrator is appointed to attempt to rescue an insolvent company. It s designed to protect the company

More information

Personal Loan Contract

Personal Loan Contract GE Money Personal Loan Contract Terms & Conditions GE imagination at work Contents What we lend and when 1 The annual interest rate 2 Interest charges 2 Repayments 3 Early repayment 3 Fees and charges

More information

Please read and sign the following. This is to confirm you have received and read all of the. Client ID: EDS <<ClientID>> Version 2.5.

Please read and sign the following. This is to confirm you have received and read all of the. Client ID: EDS <<ClientID>> Version 2.5. Terms and Conditions of Business Please read and sign the following. This is to confirm you have received and read all of the Terms and Conditions of Business. Client ID: EDS Version 2.5.7

More information

University of Trier English Law Helen Campbell, Lecturer

University of Trier English Law Helen Campbell, Lecturer University of Trier English Law Helen Campbell, Lecturer Company Law Types of Business Associations --sole trader --partnership --company (aka corporation: management is separated from ownership) --limited

More information

Deeds on Accountable Trust Receipt Redemption Figures Signature of Undertaking

Deeds on Accountable Trust Receipt Redemption Figures Signature of Undertaking A recommendation that it be completed in the solicitor s presence, it is acknowledged by the Lender that the solicitor shall have no responsibility to the Lender to explain the conditions to his/her client.

More information

NOTE - This document is provided for guidance only and does not purport to be a legal interpretation. PERSONAL INSOLVENCY ACT 2012

NOTE - This document is provided for guidance only and does not purport to be a legal interpretation. PERSONAL INSOLVENCY ACT 2012 Background to and purpose of the Act PERSONAL INSOLVENCY ACT 2012 EXPLANATORY MEMORANDUM The Act provides for the reform of personal insolvency law and will introduce the following new non-judicial debt

More information

Recommendations on the treatment of employee wages and other debts arising in the employment relationship in the context of debt settlement

Recommendations on the treatment of employee wages and other debts arising in the employment relationship in the context of debt settlement Recommendations on the treatment of employee wages and other debts arising in the employment relationship in the context of debt settlement arrangements under the Personal Insolvency Bill 2012 November

More information

STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS

STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS Protocol Annex 4 STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS Produced by the IVA FORUM Revised November 2013 For use in Proposals issued on or after 1 January 2014 TABLE OF CONTENTS FOR STANDARD

More information

Personal Loan. This document sets out your loan s terms and conditions. Some key information about your loan. Terms and Conditions

Personal Loan. This document sets out your loan s terms and conditions. Some key information about your loan. Terms and Conditions Personal Loan Terms and Conditions This document sets out your loan s terms and conditions In this document we ve explained the terms and conditions applying to your ANZ Personal Loan. It includes key

More information

Clients Copy. Terms and Conditions of Business

Clients Copy. Terms and Conditions of Business Terms and Conditions of Business Our aim at Refresh Debt Services is to help you on your way to financial recovery. We aim to be transparent in all our dealings with you so that you understand every aspect

More information

Creditors Rights in Insolvency Proceedings: A Practical Guide for Smaller Practices

Creditors Rights in Insolvency Proceedings: A Practical Guide for Smaller Practices BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com November 2010 Creditors Rights in Insolvency Proceedings: A Practical Guide

More information

Higher National Unit specification. General information. Unit code: H49N 35. Unit purpose. Outcomes. Credit points and level.

Higher National Unit specification. General information. Unit code: H49N 35. Unit purpose. Outcomes. Credit points and level. Higher National Unit specification General information Unit code: H49N 35 Superclass: EC Publication date: June 2013 Source: Scottish Qualifications Authority Version: 01 Unit purpose This Unit is designed

More information

International Swaps and Derivatives Association, Inc. COLLATERAL LAW REFORM GROUP UNITED KINGDOM COUNTRY REPORT

International Swaps and Derivatives Association, Inc. COLLATERAL LAW REFORM GROUP UNITED KINGDOM COUNTRY REPORT International Swaps and Derivatives Association, Inc. COLLATERAL LAW REFORM GROUP UNITED KINGDOM COUNTRY REPORT Supplement to Collateral Arrangements in the European Financial Markets: The Need for National

More information

CONSUMER PROTECTION ON THE SALE OF LOAN BOOKS. Public Consultation July 2014

CONSUMER PROTECTION ON THE SALE OF LOAN BOOKS. Public Consultation July 2014 CONSUMER PROTECTION ON THE SALE OF LOAN BOOKS Public Consultation July 2014 Public Consultation Paper: Consumer Protection on the Sale of Loan Books Department of Finance July 2014 Department of Finance

More information

RESIDENTIAL MORTGAGE LENDING LAW SOCIETY APPROVED GUIDELINES AND AGREEMENT (2011 EDITION)

RESIDENTIAL MORTGAGE LENDING LAW SOCIETY APPROVED GUIDELINES AND AGREEMENT (2011 EDITION) This is a true copy of the Guidelines & Agreement (2011 Edition) agreed by the Law Society of Ireland with the Lending Institutions named herein RESIDENTIAL MORTGAGE LENDING LAW SOCIETY APPROVED GUIDELINES

More information

DIFFERENT FORMS OF ADMINISTRATION IN CORPORATE INSOLVENCY. by Mark Doble, Partner

DIFFERENT FORMS OF ADMINISTRATION IN CORPORATE INSOLVENCY. by Mark Doble, Partner DIFFERENT FORMS OF ADMINISTRATION IN CORPORATE INSOLVENCY by Mark Doble, Partner 7 MAY 2013 1 OVERVIEW 1. In this paper I address the three most common types of administration of insolvent corporations.

More information

How To Find Out If A Company Is In An Insolvent Process

How To Find Out If A Company Is In An Insolvent Process Top ten questions from creditors of troubled companies A Guest Article by Julian Charles January 2010 What creditors want to know Below are the ten questions most frequently asked by creditors of companies

More information

Agenda. Nama Enforcement Review. NAMA Issue for Borrowers & Advisors around Nama. www.charteredaccountants.ie EDUCATING SUPPORTING REPRESENTING

Agenda. Nama Enforcement Review. NAMA Issue for Borrowers & Advisors around Nama. www.charteredaccountants.ie EDUCATING SUPPORTING REPRESENTING NAMA Issue for Borrowers & Advisors around Nama Nama Enforcement Review Declan McDonald www.charteredaccountants.ie EDUCATING SUPPORTING REPRESENTING Agenda - NAMA Panel for Insolvency and Enforcement

More information

STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS. Produced by the IVA FORUM

STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS. Produced by the IVA FORUM Protocol Annex 4 STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS Produced by the IVA FORUM Revised November 2013 For use in proposals issued on or after 1 January 2014 TABLE OF CONTENTS FOR STANDARD

More information

Personal Insolvency How safe is my pension now?

Personal Insolvency How safe is my pension now? Issue 2 - August 2013 - For financial advisers only Pension P st How safe is my pension? must be one of the most common queries raised by clients who are in financial difficulties. For our second edition

More information

IBRC customers who have queries can contact the helpdesk at 1800 303632 between 9am to 5pm

IBRC customers who have queries can contact the helpdesk at 1800 303632 between 9am to 5pm Q&A IBRC liquidation 6 Feb 2013 Note: This Q& A document is provided solely for information purposes. It does not constitute (and shall not be construed as constituting) legal advice. It is also not a

More information

Managing Risk in the LGPS. 5 September 2014

Managing Risk in the LGPS. 5 September 2014 Managing Risk in the LGPS 5 September 2014 Benefits of employer covenant checks Reduce the risk of pension liabilities falling on other fund employers Improves overall scheme governance & employer monitoring

More information

INSOLVENT TENANTS OPTIONS FOR LANDLORDS

INSOLVENT TENANTS OPTIONS FOR LANDLORDS INSOLVENT TENANTS OPTIONS FOR LANDLORDS Contents 1 Tenant in Liquidation... 2 2 Tenant in Administration... 3 3 Tenant in Receivership... 3 4 Tenant in Company Voluntary Arrangement... 5 5 Tenant in Bankruptcy...

More information

Comparison of Corporate Insolvency Procedures

Comparison of Corporate Insolvency Procedures Comparison of Corporate Insolvency Procedures There are five categories of insolvency procedure for companies in England, Wales and Northern Ireland. These are: Company Voluntary Arrangement (CVA) Administration

More information

Home Loan. This document sets out your loan s terms and conditions. Some key information about your loan. Terms and Conditions

Home Loan. This document sets out your loan s terms and conditions. Some key information about your loan. Terms and Conditions Home Loan Terms and Conditions This document sets out your loan s terms and conditions In this document we ve explained the terms and conditions applying to your ANZ Home Loan. It includes key information

More information

Audit issues when financial market conditions are difficult and credit facilities may be restricted

Audit issues when financial market conditions are difficult and credit facilities may be restricted Bulletin 2008/01 Audit issues when financial market conditions are difficult and credit facilities may be restricted THE AUDITING PRACTICES BOARD The Auditing Practices Board Limited, which is part of

More information

Glossary of Terms: Insolvency and Restructuring

Glossary of Terms: Insolvency and Restructuring Glossary of Terms: Insolvency and Restructuring Administration Administration is the court supervised process by which a Licensed Insolvency Practitioner called an administrator takes control of an insolvent

More information

Insolvency: a guide for directors

Insolvency: a guide for directors INFORMATION SHEET 42 Insolvency: a guide for directors This information sheet provides general information on insolvency for directors whose companies are in financial difficulty, or are insolvent, and

More information

Debt Solution Overview 2

Debt Solution Overview 2 Contents Debt Solution Overview 2 Debt Management What is a Debt Management Plan? 3 What are the benefits of a Debt Management Plan? 3 How does it work? 3 What debts can be included in a plan? 4 What debts

More information

Restructuring and insolvency in the UK (England & Wales): overview

Restructuring and insolvency in the UK (England & Wales): overview GLOBAL GUIDE 2015/16 RESTRUCTURING AND INSOLVENCY Country Q&A Restructuring and insolvency in the UK (England & Wales): overview James Roome, Tom Bannister and Emma Simmonds Akin Gump LLP global.practicallaw.com/9-501-6812

More information

Insolvency: a glossary of terms

Insolvency: a glossary of terms Insolvency: a glossary of terms This is a brief explanation of some of the terms you may come across in company insolvency proceedings. Please note that this glossary is for general guidance only. Many

More information

THE BASICS OF CHAPTER 11 BANKRUPTCY

THE BASICS OF CHAPTER 11 BANKRUPTCY THE BASICS OF CHAPTER 11 BANKRUPTCY Bankruptcy is a legal proceeding in which a debtor declares an inability to pay consumer or business debts as they become due. Debtors may seek to be excused from continuing

More information

Home Loan Agreement General Terms

Home Loan Agreement General Terms Your Home Loan Agreement with us, China Construction Bank (New Zealand) Limited is made up of two documents: A. This document called ; and B. The document called Home Loan Agreement Specific Terms. Your

More information

Hewlett-Packard International Bank Plc

Hewlett-Packard International Bank Plc Hewlett-Packard International Bank Plc Code of Conduct for Code of Conduct for Business Lending to Small and Medium Enterprises to Small Medium Enterprises December 2011 Section 1: Overview 1.1 Scope The

More information

How To Understand The Law Of England

How To Understand The Law Of England UNIT 1: All Compulsory The syllabus lists what the Course must cover as a minimum, it is not set out in any order of importance, weight or otherwise. The course must always remain current, relevant and

More information

Overview of CII Financial Services Regulatory Qualifications

Overview of CII Financial Services Regulatory Qualifications Overview of CII Financial Services Regulatory Qualifications Certificate in Financial Administration FA Life office administration (0 credits) OR FA2 Pensions administration (0 credits) Certificate in

More information

Services for Solicitors

Services for Solicitors Services for Solicitors About us Contents About us Who we are 1 What we do 1 Why CavanaghKelly? 2 3 Sector specialisms 3 Who we advise 3 Corporate & Commercial 4 Litigation & Dispute 6 Banking & Finance

More information

Enforcing Against a Personal Guarantor

Enforcing Against a Personal Guarantor Enforcing Against a Personal Guarantor October 2012 1 EnforcingAgainst a Personal Guarantor Introduction The purpose of this briefing paper is to provide an overview of the process where a lender wishes

More information

Detailed competency map

Detailed competency map Detailed competency map Additional competency requirements for entry to the Hong Kong Institute of CPAs qualification programme (Professional bridging examination) Fields of competency The items listed

More information

Deregistration and Winding up of Australian Companies

Deregistration and Winding up of Australian Companies Introduction Deregistration and Winding up of Australian Companies There can be a number of legal and commercial reasons to end the life of an Australian company. While the most obvious and common reason

More information

Information booklet for small and medium enterprises (SMEs) in financial difficulty

Information booklet for small and medium enterprises (SMEs) in financial difficulty Information booklet for small and medium enterprises (SMEs) in financial difficulty We understand that in the current economic climate SMEs can experience difficulties meeting their financial commitments.

More information

STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS. Produced by the IVA FORUM. Revised January 25'h 2008 - - - ~.,;..._.

STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS. Produced by the IVA FORUM. Revised January 25'h 2008 - - - ~.,;..._. STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS Produced by the IVA FORUM Revised January 25'h 2008 - - - ~.,;..._. TABLE OF CONTENTS FORST ANDARD CONDITIONS PART I: INTERPRETATION 1 Definitions

More information

Mortgage Conditions and Explanations

Mortgage Conditions and Explanations Mortgage Conditions and Explanations 1 Mortgage Conditions and Explanations Bath Building Society ( the Society ) The paragraphs headed Introduction and Membership Rights below are included purely for

More information

Terms and Conditions

Terms and Conditions Terms and Conditions We want your decision to use Valour Financial Management services to be the best decision you have ever made towards regaining control of your financial situation. To that end we aim

More information

the debtor had been pressured into taking out PPI; it had not been made clear that PPI was optional;

the debtor had been pressured into taking out PPI; it had not been made clear that PPI was optional; Guidance Note on Payment Protection Insurance Mis-Selling Claims in Trust Deeds & Sequestrations 1. Background 1.1 Payment protection insurance ( PPI ) is intended to cover a borrower s unexpected loss

More information

DRN. Guide to a Debt Relief Notice

DRN. Guide to a Debt Relief Notice nseirbhís Dócmhainneachta na héirea DRN Guide to a Debt Relief Notice n Insolvency Service of Ireland A Debt Relief Notice enables an eligible insolvent debtor with limited disposable income and assets

More information

STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS. Produced by the IVA FORUM

STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS. Produced by the IVA FORUM Protocol Annex 4 STANDARD CONDITIONS FOR INDIVIDUAL VOLUNTARY ARRANGEMENTS Produced by the IVA FORUM Revised January 25 th 2008 TABLE OF CONTENTS FOR STANDARD CONDITIONS PART I: INTERPRETATION Page 1 Definitions

More information

INSOLVENCY (BANKRUPTCY & LIQUIDATION) AND CHARGING ORDER POLICY

INSOLVENCY (BANKRUPTCY & LIQUIDATION) AND CHARGING ORDER POLICY EK SERVICES POLICIES AND PROCEDURES INSOLVENCY (BANKRUPTCY & LIQUIDATION) AND CHARGING ORDER POLICY EK Services Insolvency & Charging Order Policy 1 Contents 1. Introduction and purpose of policy document

More information

LEGAL GUIDE TO RECOVERING A TRADE DEBT

LEGAL GUIDE TO RECOVERING A TRADE DEBT LEGAL GUIDE TO RECOVERING A TRADE DEBT Howat Avraam Solicitors A: 154 160 FLEET STREET, LONDON, EC4A 2DQ T: 020 7884 9400 E: Matthew.Howat@hasolicitors.co.uk Unpaid invoicing is a fact of life for most

More information

BANKRUPTCY. Offermans Parners Turnaround + Solvency Solutions 1

BANKRUPTCY. Offermans Parners Turnaround + Solvency Solutions 1 BANKRUPTCY Offermans Parners Turnaround + Solvency Solutions 1 BANKRUPTCY Bankruptcy is the process of administering the Estate of a person who is unable to pay their debts as and when they fall due (i.e.

More information

Personal Insolvency Act 2012 A changing landscape for banks in Ireland

Personal Insolvency Act 2012 A changing landscape for banks in Ireland www.pwc.ie Personal Insolvency Act 2012 A changing landscape for banks in Ireland We ve identified the implications of the changing landscape for banks. This document will help banks to assess their readiness

More information

Keeping your home: home owners

Keeping your home: home owners Keeping your home: home owners What help can I get to pay my mortgage? What should I do if I can t pay my mortgage? Can a lender repossess my home? provided by the Citizens Information Board provided by

More information

The local authority insolvency. Jargon buster

The local authority insolvency. Jargon buster The local authority insolvency Jargon buster 1 The world of insolvency can be, at best, confusing for the uninitiated. The various fields of restructuring and recovery are littered with technical terms,

More information

Understanding our Legal Process. How to get the most out of your Invoice Finance facility

Understanding our Legal Process. How to get the most out of your Invoice Finance facility Understanding our Legal Process How to get the most out of your Invoice Finance facility Contents 1. Key Aims Page 3 2. Dispute Resolution Team Page 4 3. Key Stages in Dispute Resolution Pages 5-7 4. Costs

More information

Borrowers and Lenders Act, 2008 (Act 773)

Borrowers and Lenders Act, 2008 (Act 773) Borrowers and Lenders Act, 2008 (Act 773) Borrowers and Lenders Act, 2008 Act 773 ARRANGEMENT OF SECTIONS Section 1. Application 2. Meaning of credit agreement 3. Meaning of credit facility 4. Meaning

More information

Senate Economics Committee Inquiry Consumer Credit and Corporations Legislation Amendment (Enhancements) Bill 2011

Senate Economics Committee Inquiry Consumer Credit and Corporations Legislation Amendment (Enhancements) Bill 2011 Dr Richard Grant Acting Secretary Senate Standing Committees on Economics PO Box 6100 Parliament House CANBERRA ACT 2600 By email: economics.sen@aph.gov.au 18 October 2011 Senate Economics Committee Inquiry

More information

Miscellaneous: Part 25 of the Companies Bill

Miscellaneous: Part 25 of the Companies Bill Miscellaneous: Part 25 of the Companies Bill Contents of Presentation 1. Part 25 Miscellaneous 2. Chapter 1 provisions concerning foreign insolvency proceedings (including those covered by the Insolvency

More information

Corporate Insolvency in Ireland Dillon Eustace

Corporate Insolvency in Ireland Dillon Eustace Corporate Insolvency in Ireland Dillon Eustace Table of Contents Page 1. Mechanisms of Corporate Insolvency 1 2. Liquidation 1 3. Functions of the Liquidator 2 4. Liquidation and Creditors Rights 2 5.

More information

MABS Guide to the Personal Insolvency Act, 2012

MABS Guide to the Personal Insolvency Act, 2012 MABS Guide to the Personal Insolvency Act, 2012 DISCLAIMER: This Guide is for general information purposes only and does not constitute legal, financial or other professional advice. Specific advice should

More information

A voluntary bankruptcy under the BIA commences when a debtor files an assignment in bankruptcy with the Office of the Superintendent of Bankruptcy.

A voluntary bankruptcy under the BIA commences when a debtor files an assignment in bankruptcy with the Office of the Superintendent of Bankruptcy. Bankruptcy and Restructuring 121 BANKRUPTCY AND RESTRUCTURING Under Canadian constitutional law, the federal government has exclusive legislative control over bankruptcy and insolvency matters. Insolvency

More information

Insolvency: a glossary of terms

Insolvency: a glossary of terms INFORMATION SHEET 41 Insolvency: a glossary of terms This is a brief explanation of some of the terms you may come across in company insolvency proceedings. Please note that this glossary is for general

More information

Thompson Jenner LLP Last revised April 2013 Standard Terms of Business

Thompson Jenner LLP Last revised April 2013 Standard Terms of Business The following standard terms of business apply to all engagements accepted by Thompson Jenner LLP. All work carried out is subject to these terms except where changes are expressly agreed in writing. 1

More information

ANTI-MONEY LAUNDERING GUIDANCE FOR INSOLVENCY PRACTITIONERS IN THE REPUBLIC OF IRELAND

ANTI-MONEY LAUNDERING GUIDANCE FOR INSOLVENCY PRACTITIONERS IN THE REPUBLIC OF IRELAND ANTI-MONEY LAUNDERING GUIDANCE FOR INSOLVENCY PRACTITIONERS IN THE REPUBLIC OF IRELAND This guidance, which is specific to money laundering issues likely to arise in the context of insolvency practice,

More information

Business Loan. This document sets out your loan s terms and conditions. Contents of these terms and conditions. Terms and Conditions

Business Loan. This document sets out your loan s terms and conditions. Contents of these terms and conditions. Terms and Conditions Business Loan Terms and Conditions This document sets out your loan s terms and conditions In this document we ve explained the terms and conditions applying to your ANZ Business Loan. It includes key

More information

Legal Issues in Irish Residential Mortgages

Legal Issues in Irish Residential Mortgages 1 arthur cox FINANCe Group Briefing September 2013 Legal Issues in Irish Residential Mortgages This document contains a general summary of developments and is not a complete or definitive statement of

More information

STATEMENT OF INSOLVENCY PRACTICE 9 (SCOTLAND) REMUNERATION OF INSOLVENCY OFFICE HOLDERS

STATEMENT OF INSOLVENCY PRACTICE 9 (SCOTLAND) REMUNERATION OF INSOLVENCY OFFICE HOLDERS STATEMENT OF INSOLVENCY PRACTICE 9 (SCOTLAND) REMUNERATION OF INSOLVENCY OFFICE HOLDERS 1 INTRODUCTION 1.1 This Statement of Insolvency Practice (SIP) is one of a series issued to licensed insolvency practitioners

More information

Business and Agri Loan Terms and Conditions

Business and Agri Loan Terms and Conditions October 2012 Thank you for choosing an ANZ loan. When you take out a loan, various terms and conditions apply to it. These are covered in this Terms and Conditions document and in your loan agreement.

More information

Important Information to help people in mortgage arrears

Important Information to help people in mortgage arrears Important Information to help people in mortgage arrears September 2015 Talk to your Lender Banking & Payments Federation Ireland represents Ireland s principal mortgage lenders. These lenders are committed

More information

GUIDE TO INSOLVENCY IN THE CAYMAN ISLANDS

GUIDE TO INSOLVENCY IN THE CAYMAN ISLANDS GUIDE TO INSOLVENCY IN THE CAYMAN ISLANDS CONTENTS PREFACE 1 1. Introduction 2 2. When is a Company Insolvent under Cayman Islands Law? 2 3. Formal Insolvency Procedures 2 4. Creditors Rights 4 5. Voidable

More information

[Insert graphic] COMPANIES (INSOLVENCY AND RECEIVERSHIP) ACT 2009 (NO. 2 OF 2009)

[Insert graphic] COMPANIES (INSOLVENCY AND RECEIVERSHIP) ACT 2009 (NO. 2 OF 2009) [Insert graphic] COMPANIES (INSOLVENCY AND RECEIVERSHIP) ACT 2009 (NO. 2 OF 2009) 3 [Insert graphic] COMPANIES (INSOLVENCY AND RECEIVERSHIP) ACT 2009 (NO. 2 OF 2009) PASSED by the National Parliament

More information

First column=preferred terms. Bold and italics signifies other defined terms. Bold signifies alternate terms used.

First column=preferred terms. Bold and italics signifies other defined terms. Bold signifies alternate terms used. First column=preferred terms. Bold and italics signifies other defined terms. Bold signifies alternate terms used. 1= Governance; 2=Facilities and Products; 3 Charges; 4 Legal terms and security arrangements;

More information

Financial Restructuring and Transactions IFT Information Note: No. 121. Introduction to Insolvency Processes Schemes of Arrangement and COMI shifting

Financial Restructuring and Transactions IFT Information Note: No. 121. Introduction to Insolvency Processes Schemes of Arrangement and COMI shifting INTRODUCTION This note is intended to act as an introduction to corporate insolvency procedures under the Insolvency Act 1986 (the Act ) (as amended by The Enterprise Act 2002) and otherwise together with

More information

Insolvency: a guide for shareholders

Insolvency: a guide for shareholders INFORMATION SHEET 43 Insolvency: a guide for shareholders If a company is in financial difficulty, it can be put under the control of an independent external administrator. The role of the external administrator

More information