Restructuring & Insolvency Bulletin - Winter 2018

Restructuring & Insolvency Bulletin - Winter 2018

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

2017 was generally regarded as a challenging year for the UK economy. Signs of darkening clouds emerging included a warning from the Bank of England last April about the rapid growth of consumer borrowing in Britain. In November the Organisation for Economic Cooperation and Development forecast that the UK would experience weak economic growth over the following two years, with the UK sitting bottom of the G7 group of countries in terms of economic growth over this period. Britain’s poor productivity levels have continued to attract attention from economists. And after a prolonged debate, we also saw the first interest rate rise from the Bank of England in over a decade last November. 

The omens are not necessarily positive then and the last few months have already witnessed a number of high profile casualties - amongst them Toys ‘R’ Us, Palmer & Harvey and Carillion. It's no surprise that many are predicting a busy year ahead for R&I professionals.

With the above in mind, in this bulletin we have selected a list of recent articles written by our Restructuring & Insolvency specialists which we expect will be of interest to you. We hope you enjoy reading these articles and would be delighted to hear from you on any points arising from them. Links to these articles can all be found below. 

And if you like what you read, we have as previously produced a sister publication for our Banking & Finance clients. Click here to read more.

Contact our experts for further advice

  1. Airline insolvencies: a review

    Following the high profile reports of Monarch entering administration in October 2017, there have been a number of key developments of interest to both officeholders and consumers. Most recently, on 22 November 2017 the Court of Appeal confirmed (in ... Read more
  2. Carillion - Was the writing on the wall?

    On 15 January 2018, Carillion PLC, the UK’s second largest construction company, was placed into compulsory liquidation. The move came after discussions over the weekend between the firm, its lenders and the Government failed to reach a deal to save... Read more
  3. When are insolvency proceedings appropriate? Top tips for avoiding abuse of process.

    The recent judgment in the case of Bernhards Sports Surfaces Ltd v Astrosoccer4u Ltd [2017] EWHC 2425 (TCC) has provided a sage reminder that insolvency proceedings should only be threatened and/or utilised in circumstances where a company is genuinely... Read more
  4. Where a bankrupt is repeatedly uncooperative, a trustee in bankruptcy can apply for a committal order for contempt - but what is the correct procedure?

    In the recent case of Simmonds v Pearce [2017] EWHC 35 (QB) , the High Court confirmed the correct procedure for a trustee in bankruptcy to initiate committal proceedings against a bankrupt, where there was failure to comply with his statutory obligations... Read more
  5. Rebranding of High Court specialist courts - live from 2 October 2017

    As of 2 October 2017, the High Court business specialist courts have rebranded. The Commercial Court, The Commercial Circuit Court (formerly the Mercantile Court), the Admiralty Court,  the Technology and Construction Court of the Queen’s Bench... Read more
  6. Severe weather warnings for the High Street: how should retailers weather the storm?

    Figures compiled by Deloitte show a 28% increase in the number of retailers filing for administration in 2017 when compared to 2016.  This is hardly surprising considering the squeeze on household incomes resulting from inflation outpacing wages. ... Read more

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