Sealy & Milman: Annotated Guide to the Insolvency Legislation 2021: Volume 2
Published: June 2021
Publisher: Sweet & Maxwell Ltd
Country of Publication: UK
Sealy and Milman: Annotated Guide to the Insolvency Legislation is viewed as the definitive guide to insolvency law. Now in its 24th 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.
Selected key changes in the 24th Edition
In addition to all key changes since the last edition, the 24th edition now includes:
- The new moratorium for companies introduced by the Corporate Insolvency and Governance Act 2020 (CIGA) and replacing the CVA moratorium
- Contains a description of the new Debt Respite Scheme (Breathing Space moratorium) for individuals in force from 4 May 2021
- Gives context on the new ‘restructuring plan’ – an enhanced scheme of arrangement – introduced by the Corporate Insolvency and Governance Act 2020
- Amends the annotations and text to the Insolvency Act 1986 to reflect changes made by CIGA, and provides the text of self-standing CIGA provisions where relevant
- Explains the position of the European Insolvency Regulation after Brexit
- Covers the return of Crown preferential debt under the Finance Act 2020.
- All the relevant new Practice Directions are reproduced
- Updated introduction to the Scottish rules, written by leading Scottish insolvency academic Donna McKenzie-Skene.
Key cases considered in this edition:
- Bresco Electrical Services Ltd v Michael J Lonsdale (Electrical) Ltd  UKSC 25
- Re Nektan (Gibraltar) Ltd  EWHC 65 (Ch)
- Ezair v Conn  EWCA Civ 687
- Re Debenhams (Retail) Ltd  EWCA Civ 600
- Re A.R.G. (Mansfield) Ltd  EWHC 1133 (Ch)
- Re Akkurate Ltd  EWHC 1433 (Ch)
Sealy & Milman is available as a two-volume set or separately and in print, ebook, and online formats.
- 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