We’re back with another round-up of legal developments and market insights – and while the summer sun may have faded, the heat hasn’t quite left the restructuring and insolvency world.
From the impact of the Economic Crime and Corporate Transparency Act 2023 and government proposals to crackdown on late payments and fraud, to the financial pressures facing Thames Water, the retail sector, universities and private schools, the past quarter has seen a flurry of activity. Our team has been busy writing, commenting and contributing across a range of platforms – and we’ve picked out some of the highlights here. As ever, a full list of articles is set out below.
Helen Martin has been keeping a close eye on Poundland’s restructuring and the risks for suppliers, whilst Matthew Padian and Lucy Trott were quoted extensively in the press discussing River Island’s restructuring plan – check out our LinkedIn post showcasing the coverage. Helen also covered the government’s new small business strategy targeting late payments – a welcome move for many – while Lucy has been following the twists and turns of the Thames Water saga. With the latest creditor proposal on the table, will it be restructuring or renationalisation?
The provisions of the Economic Crime and Corporate Transparency Act 2023 continue to be rolled out (for more information see our ECCTA Hub, where colleagues from across the firm discuss the latest on all things ECCTA). The Insolvency Service’s new Investigation and Enforcement Strategy talks to many of the themes of ECCTA – Helen considers this for us, whilst Lucy’s article on the “Great British strike off” explores how Companies House is tackling fraud.
Education has been another key theme this quarter: Helen commented on a recent Financial Times article about the refinancing crunch hitting universities, whilst Lucy looked at the financial pressures facing private schools.
In a longer form piece, Helen and I analysed the Court of Appeal’s decision in Desai v Wood on the treatment of liability insurance proceeds in liquidation. And you may have seen Lucy and me in Fraud Intelligence, discussing how fraudulent trading claims are no longer confined to directors – a piece that’s since been republished on our website.
Plenty to digest – and as always, we’d love to hear your thoughts or suggestions for future topics.
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Matthew Padian
Tim Carter