Dear IP Letter 50
Dear IP Letter 50 was issued on 21 August 2020.
Dear Insolvency Practitioner,
In this, the fiftieth of the “Dear IP (NI)” series, I should like to deal with the following issue:
Articles in Part 1A of the Insolvency (Northern Ireland) Order 1989 and Related Paragraphs in Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020
The table at Annex A has been produced to assist Insolvency Practitioners acting as monitors in relation to moratoriums under Part 1A of the Insolvency (Northern Ireland) Order 1989.
The table sets out the rules which apply in the case of specific provisions in Part 1A.
The table is intended as a guide for monitors both in carrying out their own functions under Part 1A and in advising directors of companies, subject to a moratorium, as to the duties they are under.
Any enquiries regarding this article should be directed towards
Jack ReidInsolvency Service
Fermanagh House
Ormeau Avenue
Belfast
BT2 8NJ
Telephone 02890 548555
Email: jack.reid@economy-ni.gov.uk
Yours faithfully,
[signed]
Pauline Brown
Principal Examiner
Annex A
Articles in Part 1A of the Insolvency (Northern Ireland) Order 1989 and Related Paragraphs in Part 3 of Schedule 8 to The Corporate Insolvency and Governance Act 2020
Article in Part 1A of the 1989 Order | Paragraph in Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020 |
|---|---|
Article 13BC(1) – The relevant documents | Paragraph 13 Paragraph 14 |
Article 13BC)(1)(a) | Paragraph 15 |
Article 13BC(1)(b) | Paragraph 16 Paragraph 17 |
Article 13BC(1)(c) | Paragraph 17 |
Article 13BC(1)(d) | Paragraph 17 |
Article 13BC(1)(e) | Paragraph 17 |
Article 13BE(2) – Obligation to notify where moratorium comes into force | Paragraph 13 Paragraph 18 |
Article 13BE(2)(a) | Paragraph 14 |
Article 13CA(1) – Extension by directors without creditor consent | Paragraph 13 Paragraph 14 |
Article 13CA(1)(a) | Paragraph 19 |
Article 13CA(1)(b) | Paragraph 21 |
Article 13CA(1)(c) | Paragraph 21 |
Article 13CA(1)(d) | Paragraph 20 Paragraph 21 |
Article 13CB(1) - Extension by directors with creditor consent | Paragraph 13 Paragraph 14 |
Article 13CB(1)(a) | Paragraph 19 |
Article 13CB(1)(b) | Paragraph 21 |
Article 13CB(1)(c) | Paragraph 21 |
Article 13CB(1)(d) | Paragraph 20 Paragraph 21 |
Article 13CB(1)(e) | Paragraph 21 |
Article 13CC – Creditor consent for the purpose of Article 13CB | Paragraphs 23 to 30 |
Article 13CC(2) | Paragraph 22 |
Article 13CD – Extension by High Court on application of directors | Paragraph 31 |
Article 13CD(2) – Extension by High Court on application of directors | Paragraph 13 Paragraph 14 Paragraph 32 |
Article 13CH(1) – Obligations to notify change in end of moratorium | Paragraph 33 |
Article 13CH(2) | Paragraph 34 |
Article 13CH(3) | Paragraph 34 |
Article 13CH(4) | Paragraph 36 |
Article 13CG – Company enters into insolvency procedure etc | Paragraph 35 |
Article 13DF(1) – Duty of directors to notify monitor of insolvency proceedings etc | Paragraph 37 |
Article 13DF(2) | Paragraph 37 |
Article 13ED(1) – Termination of moratorium by monitor | Paragraph 38 |
Article 13ED(1)(d) | Paragraph 39 |
Article 13EE(4) – Replacement of monitor or appointment of additional monitor | Paragraph 40 |
Article 13EE(8) | Paragraph 41 |
Article 13FB(4)(c) – Challenge to directors’ actions | Paragraph 43 |
Article 148A – Moratorium debts etc: priority | Paragraph 44 |
Paragraph 65A(1) of Schedule B1 – Company entering administration within 12 weeks of day after end of moratorium | Paragraph 45 |