This book provides a logically ordered guide to the substantive law and practice relating to corporate insolvency as it currently stands. Procedures for commencing and conducting various types of insolvency proceedings are set out alongside the latest legislation (the Insolvency Act 1986, the Insolvency Rules 1986 and the two Insolvency Acts of 1994) and any relevant case law which supports, modifies or interprets that legislation

Contents Preface to the second edition. Preface to the first edition. Table of statutes. Table of statutory instruments. Table of cases . Part 1: Insolvency legislation and insolvency practitioners Introduction. Insolvency proceedings. Insolvency practitioners. Arrangement of material. Part 2: Winding up of companies by the court Jurisdiction. Petitioners. Grounds for winding up. Procedure. The winding up of unregistered companies. Part 3: Voluntary winding up Winding up resolutions. Members' and creditors' voluntary winding up. Winding up by the court of a company in voluntary liquidation. Part 4: The conduct of a liquidation Effect of a winding-up order or resolution. Proceedings consequent on a winding-up order or resolution. The liquidator and the liquidation committee in a winding up by the court. The liquidator and the liquidation committee in a voluntary winding up. The status and powers of the liquidator. The ancillary powers of the liquidator. Control over the liquidator. The duties and liabilities of the liquidator. Inspections, investigations and examinations. Payments and accounts. The conclustion of a liquidation. Part 5: Assets of a company in liquidation The basic assets. The statutory invalidation of certain transactions. The invalidation of executions. Compensation for fraudulent and wrongful trading and misfeasance. Payments by contributories. Part 6: The application and distribution of the assets of a company in liquidation Introduction. Costs and expenses of the liquidation. Debts and liabilities of the company. Preferential and deferred debts and claims. Set-off in a liquidation. Secured debts. Distribution to members. Part 7: Administration orders Jurisdiction. Petitioners and grounds for administration orders. Procedure for obtaining an administration order. The effect of administration order proceedings on creditors and others. The administrator. The administrator's proposals. Conduct of the administration. The conclusion of an administration. Part 8: Compromises and arrangements Compromises and arrangements binding contractually. Voluntary arrangements with creditors. Compromises and arrangements approved by the court. Part 9: Remedies of a company's secured creditors Remedies apart from enforcing the creditor's security. Remedies for enforcing the security without the assistance of the court. Remedies for enforcing the security with the assistance of the court. Receiverships. Assets and liabilities in a receivership. The conduct of a receivership. Index.

Robert Pennington , Solictor, Emeritus Professor of Commercial Law at the University of Birmingham, formerly Adviser on Company Law to the Commission of the European Communities