Restructuring & Insolvency Bulletin - Autumn 2018

Restructuring & Insolvency Bulletin - Autumn 2018

Restructuring & Insolvency Bulletin - Autumn 2018

Welcome to the autumn edition of our Restructuring & Insolvency bulletin.

With the clocks going back, many of us will be battening down for the cold and dark days ahead. And yet with the exception of the recent cold spell, much of the country has enjoyed an Indian summer. We hope this is the case for your business too, despite the many challenges facing the UK economy which we hear much too often about these days. But let’s not lose sight of the green shoots around us. For every Patisserie Valerie, GBK and Debenhams, there’s an Aldi, a Dr Martens and a Gymshark. And for every bit of fake news, there’s a Stevens & Bolton website alert! 

Anyway, we digress. We’re here to inform and in this bulletin we cover a whole array of recent R&I developments, including the UK Government’s recently announced insolvency reform.  Please get in touch if you wish to explore any of the topics that we touch on below more fully.

And please don’t forget our sister publication that we produce for our Banking & Finance clients. Click here to read more.

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Contact our experts for further advice

  1. Watch this space - insolvency reform is coming

    Just as Summer was closing for business for another year, the UK Government announced some sweeping insolvency reforms. In late August the Department for Business, Energy & Industrial Strategy (BEIS) published its response to its 2016 Review of the... Read more
  2. Charging orders - a false sense of security?

    A charging order is a useful mechanism often employed by unpaid judgment creditors to obtain secured status by entering a restriction against title of the debtor’s property. But how much protection is afforded by a charging order and how does the... Read more
  3. Comparing the "market" when selling a mortgaged asset

    A recent case demonstrates the difficulties for a mortgagee when embarking upon the sale of a mortgaged asset, where there is no readily available market for the asset in question. It is settled law that if a mortgagee exercises its power of sale, it owes... Read more
  4. So when is an administrator appointed?

    This question has been left in doubt following the recent High Court case, Re NJM Clothing Ltd [2018] EWHC 2388 (Ch) . The legal framework Paragraph 31 of Schedule B1 to the Insolvency Act 1986 (“Sch B1”) provides that the appointment of... Read more
  5. Proving in liquidation as a guarantor - is it easy (like Sunday morning)?

    It is not unusual for a company (the “Guarantor”) to guarantee a debt of a related company (the “Principal Debtor”) and subsequently to be asked to pay out sums owed by the Principal Debtor in the event of the latter’s... Read more
  6. No such luck - attempt by stakeholders to avoid debt by placing company into liquidation fails

    One of the beautiful things about the law is that if you and I decide to create a company, then that company boasts separate legal personality from each of us. Company founders seem to like this principle because if all else fails, and the company goes... Read more

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