Bob Wessels looks at how the European Commission wishes to develop a rescue and recovery culture across the Member States. In a 2012 study, University of Heidelberg professor Andreas Pieckenbrock compared rescue measures in insolvency laws of England, Italy, France, Belgium, Germany and Austria. He concludes that there are five common tendencies in these rescue proceedings.

The pre-pack is among the armoury of tools that makes the UK an attractive restructuring jurisdiction. A recent independent review has endorsed pre-packs, but also recommended some improvements, explains Glen Flannery. On 16 June 2014, the British Government published the findings and recommendations of an independent review of pre-pack administrations (“pre-packs”) carried out by Teresa Graham CBE*. Graham’s review was commissioned by Vince Cable, the Secretary of State for Business, Innovation and Skills, to address continued disquiet about the merits of pre-packs, particularly among some

On 25 September 2014, the Civil and Commercial Court of the Qatar Financial Centre (QFC) handed down judgment dismissing a claim in the matter of Chedid & Associates Qatar LLC v Said Bou Ayash. The claim, brought by the employer against its former employee, related to an alleged breach of a non-compete clause in an employment contract.

by DLA Piper - Michael Fiddy, Partner Overturning two significant recent decisions, the Court of Appeal has held that whenever a rent payment day falls, from the moment a company in administration beneficially retains property, it will ordinarily be liable to pay rent as an expense for the period of that beneficial retention. Read more

by DLA Piper - Robert Russell, Partner and Peter Manley, Associate In this article on the changing landscape of UK fashion retail, we consider the challenges and changes faced by the industry and comment on the opportunities available for existing players and potential new entrants to the market. Read more

by DLA Piper - Noelle Petty, Associate The threat of a landlord levying distress over goods owned by a tenant in financial difficulty – entering premises and seizing goods found therein – has always caused concern for insolvency practitioners seeking to provide business rescue solutions. It has often been one of the reasons for tenants to seek the protection of a moratorium.

by DLA Piper - Robert Russell, Partner and Kerry Barnard, Senior Associate In the “Insolvency in the fashion retail sector: the risks and opportunities” article in the Q2 edition of Global Insight, we looked at the challenges the fashion retail industry faces today and the opportunities available for both existing players and new market entrants in the context of insolvent business acquisitions.

by David Ingram and Carmel King. David Ingram and Carmel King list the important steps to take at the very beginning of a case where there is a suspicion of fraud and dishonesty of the directors. The “golden hour” is that brief period of time following a serious accident in which the outcome for a victim of that accident will depend on what happens in that first hour. Likewise, the first actions taken by a liquidator can dictate the outcome of the case.

Summer holidays are a time to unwind and refresh, but of course commerce carries on regardless. A salutary reminder of the need for constant business vigilance arrived in the form of a new piece of research by Ernst & Young into quoted company profits warnings (press release). Despite the recovery, E & Y found company warnings at a three-year high.

On June 12, 2014, the market abuse regulation1 (“MAR”) and the directive on criminal sanctions for market abuse2 (“CSMAD”), together known as MAD II, were published in the Official Journal.