IA Definition

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What does IA mean?

See Investment Association.

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Debt relief orders (DROs)—checklist

Debt relief orders (DROs)—checklist Debt relief orders Debt relief orders (DROs) are an alternative to bankruptcy and are dealt with in sections 251A–251X and Schedule 4ZA to the Insolvency Act 1986 (IA 1986), and supplemented by the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, Pt 9. They provide protection from debts by prohibiting further legal process against the debtor without the court's permission and, after a year, discharges the debtor from those debts. The big difference between a DRO and bankruptcy is that DROs are available only to debtors with no substantial assets and no income over and above what is necessary for the debtor's 'reasonable needs', and there are no provisions for the collection, realisation and distribution of the debtor's estate on the basis there will be nothing to distribute. As set out in R (on the application of Payne) v Secretary of State for Work and Pensions, DROs are a 'a new and simplified way of wiping the slate clean for debtors who are...

Drafting and negotiating a time of the essence clause—checklist

Drafting and negotiating a time of the essence clause—checklist This Checklist outlines key provisions and issues for consideration when drafting and negotiating time of the essence clauses. For a Precedent time of the essence clause together with detailed drafting notes, see Precedent: Time of the essence clause. For information on time of the essence, exceptions to the general rule and practical issues to be considered by customers and suppliers, see Practice Note: Time of the essence. Legal Issues General comments What to watch out for Nature of the term: condition, innominate term or warranty Time will be of the essence where the parties expressly stipulate that time will be of the essence. If time is of the essence, a delay may give rise to the right to terminate the contract and a right to recover damages.In the absence of express wording, for time to be of the essence it must be a condition of the contract. If the provision dealing with time is construed as an innominate term or a warranty, it...

Trading an insolvent company—checklist

Trading an insolvent company—checklist The decision to trade on is not a decision which an insolvency practitioner (IP) can make in isolation. It is important to get commitment to trading on from the other stakeholders who need to be involved. These other stakeholders include: • customers—required to commit to continue to buy from the company • suppliers—required to commit to continue to supply the company • employees—required to commit to carry on their duties with the company, and • potential purchasers—required because without a purchaser the continued trading will not lead to enhanced realisations The checklist below covers most of the key areas that an IP must focus on when trading a business. Good levels of communication and control are essential from day one of a trading job. There are four key words to keep in mind at all times from the moment an IP takes over: • control—establish the whereabouts of all assets/premises • secure—change locks, alarm codes and passwords • insure—notify insurance brokers who insure assets for IPs...

Statement of Changes in Immigration Rules, HC 309—analysis [Archived]

Statement of Changes in Immigration Rules, HC 309—analysis [Archived] This analysis considers the main changes to the Immigration Rules (the Rules) set out in HC 309. HC 309 was issued on 7 December 2017, along with an Explanatory Memorandum (EM). It covers: • the electronic issuing of entry clearance • controversial changes to the Rules relating to indefinite leave to remain (ILR) for main applicants and their dependants in work categories, in particular on how absences from the UK are to be treated • substantial amendments to the Tier 1 (Entrepreneur) sub-tier • amendments to Tier 1 (Exceptional Talent) including: ◦ increasing the Tier 1 (Exceptional Talent) limit to 2000 endorsements per year, with 1,000 of these to be allocated among the Designated Competent Bodies on a first-come first-served basis ◦ introducing provision for migrants endorsed under the exceptional talent criteria to apply for ILR after three years • amendments to Tier 2 (General), including: ◦ allowing Tier 4 (General) students to apply to switch into Tier...

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Special administration—special administrators’ progress report

Special administration—special administrators’ progress report [investment bank name] (in special administration) [Joint] Special Administrators’ Progress Report for the six-month period [date] to [date] Notice: About this Report • This Report has been prepared by [names of special administrators], the Special Administrators of [investment bank name] (in special administration), solely to comply with their statutory duty under the Investment Bank Special Administration (England and Wales) Rules 2011, SI 2011/1301, r 122 to provide creditors and clients with an update on the progress of the special administration and for no other purpose. This Report is not suitable to be relied upon by any other person, or for any other purpose, or in any other context. • This Report has not been prepared in contemplation of it being used, and is not suitable to be used, to inform any investment decision in relation to the debt of or any financial interest in [investment bank name] (in special administration). • Any estimated outcomes for creditors and clients included in this Report are...

Witness statement in support of a fraudulent trading application under sections 213 and 246ZA of the Insolvency Act 1986

Witness statement in support of a fraudulent trading application under sections 213 and 246ZA of the Insolvency Act 1986 While both liquidators and administrators can now bring fraudulent trading claims under sections 213 and 246ZA of the Insolvency Act 1986, this Precedent is drafted from the perspective of a liquidator bringing such a claim. Applicant(s): [insert initials and surname] [insert number of witness statement eg 1st] Exhibit: [insert exhibit description] Date: [insert date of witness statement] CASE NO: [insert case number] [ IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES INSOLVENCY AND COMPANIES LIST (ChD) OR IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS IN [insert location] INSOLVENCY AND COMPANIES LIST (ChD) OR IN THE HIGH COURT OF JUSTICE CHANCERY DIVISION [insert location] DISTRICT REGISTRY OR IN THE COUNTY COURT AT [insert location] ] IN THE MATTER OF [insert company’s name] AND IN THE MATTER OF THE INSOLVENCY ACT 1986 BETWEEN [Insert name(s) of the aPPLICANT(s)] Applicant(s)...

Dive into our 43 Precedents related to IA

If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover?

If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover? It is assumed that the claim would otherwise trigger cover under the insurance policy and that it is a liability insurance policy. Under a liability insurance policy, a notification clause is framed as a condition precedent to indemnity under the policy, to allow insurers to investigate the claim at an early stage. In the absence of a clause allowing for extended reporting of claims notifications, an insurer can rely on a breach of a condition precedent to deny liability, regardless of whether insurers have suffered any prejudice. See Practice Note: Liability insurance—notification of claims and circumstances and defence of claims. It should be noted that the purpose of section 11 of the Insurance Act 2015 relates to terms that define the risk as a whole, and it is to prevent insurers from relying on a breach unconnected to the...

Where the insurance for the opposing party’s vehicle is in the name of the employer and that employer has dissolved, can the European Communities (Rights against Insurers) Regulations 2002 be used to issue against the insurer instead? My concern is that the regulation states that the ‘insurer shall be directly liable to the entitled party to the extent that he is liable to the insured person’ but are the insurers liable to the ‘insured person’ when their insured is the employer?

Where the insurance for the opposing party’s vehicle is in the name of the employer and that employer has dissolved, can the European Communities (Rights against Insurers) Regulations 2002 be used to issue against the insurer instead? My concern is that the regulation states that the ‘insurer shall be directly liable to the entitled party to the extent that he is liable to the insured person’ but are the insurers liable to the ‘insured person’ when their insured is the employer? For guidance on the liability of an ‘employer’ for a driver’s negligence, see Practice Note: Vicarious liability in road traffic accidents. For further guidance on when a claimant may not have a direct right of action against an insurer under the European Communities (Rights against Insurers) Regulations 2002, SI 2002/3061, see Practice Note: Indemnity in personal injury claims. For guidance on motor insurance, see Practice Note: Motor insurance. The Third Parties (Rights Against Insurers) Act 2010 (TP(RAI)A 2010) simplifies and modernises the procedure for third-party victims...

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Commercial Court gives guidance on pleading and proving claims under section 423 of the Insolvency Act 1986 (Invest Bank PSC v El-Husseini)

Restructuring & Insolvency analysis: The Commercial Court dismissed a claim under section 423 of the Insolvency Act 1986 (IA 1986) that the first defendant (Mr El-Husseini) had transferred valuable assets to eight transferee defendants, being his family members, companies under their control and a discretionary trust, with the purpose of putting the assets beyond reach of the claimant (Invest Bank) as a potential creditor. The court held that the allegations advanced at trial were of serious wrongdoing amounting to dishonest behaviour or disreputable conduct which accordingly required a clear pleading of a sufficiently cogent case. Invest Bank had not properly pleaded in its particulars of claim the primary facts on which it sought to rely at trial in raising its case based on inference against the defendants. A positive case as to the financial difficulties of one of the key companies was only raised in a reply to the defence of one of the eight defendants. In any event, without expert accountancy evidence as to the state of finances of...

Immigration weekly highlights—12 December 2024

Welcome to the 12 December 2024 highlights from the Immigration team, which provides links to key news stories from the last week, as well as a round-up of new and updated content in Immigration.

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GLOSSARY

IA definition

What does IA mean?

View the related checklists about IA

Debt relief orders (DROs)—checklist

Drafting and negotiating a time of the essence clause—checklist

View the related practice notes about IA

Trading an insolvent company—checklist

Statement of Changes in Immigration Rules, HC 309—analysis [Archived]

View the related precedents about IA

Special administration—special administrators’ progress report

Witness statement in support of a fraudulent trading application under sections 213 and 246ZA of the Insolvency Act 1986

View the related q&as about IA

If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover?

View the related News about IA

Commercial Court gives guidance on pleading and proving claims under section 423 of the Insolvency Act 1986 (Invest Bank PSC v El-Husseini)

Immigration weekly highlights—12 December 2024

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GLOSSARY

IA definition

What does IA mean?

View the related checklists about IA

Debt relief orders (DROs)—checklist

Drafting and negotiating a time of the essence clause—checklist

View the related practice notes about IA

Trading an insolvent company—checklist

Statement of Changes in Immigration Rules, HC 309—analysis [Archived]

View the related precedents about IA

Special administration—special administrators’ progress report

Witness statement in support of a fraudulent trading application under sections 213 and 246ZA of the Insolvency Act 1986

View the related q&as about IA

If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover?

View the related News about IA

Commercial Court gives guidance on pleading and proving claims under section 423 of the Insolvency Act 1986 (Invest Bank PSC v El-Husseini)

Immigration weekly highlights—12 December 2024

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Popular Links

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LEGAL SOLUTIONS

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