An Act to consolidate the enactments relating to company insolvency and winding up (including the winding up of companies that are not insolvent, and of unregistered companies); enactments relating to the insolvency and bankruptcy of individuals; and other enactments bearing on those two subject matters, including the functions and qualification of insolvency practitioners, the public administration of insolvency, the penalisation and redress of malpractice and wrongdoing, and the avoidance of certain transactions at an undervalue

The Lord Chancellor, in the exercise of his powers under sections 411 and 412 of the Insolvency Act 1986, with the concurrence of the Secretary of State, and after consulting the committee existing for that purpose under section 413 of that Act, hereby makes the following Rules:—

EUROPEAN UPDATE: Restructuring U.K. Landlord Liabilities: Company Voluntary Arrangement (citation: Adam Gallagher and Margaret Rhodes, Restructuring U.K. Landlord Liabilities: Company Voluntary Arrangement, XXXI ABI Journal 3, 44-45, 108-109, April 2012) - Adam Gallagher and Margaret Rhodes

Lomas and others (together, the Joint Administrators of Lehman Brothers International (Europe)) v JFB Firth Rixson Inc and others and ISDA as intervenor [2012] EWCA Civ 419

 

Summary

Last week the National Institute of Economic and Social Research, a British think tank, released a startling chart comparing the current slump with past recessions and recoveries. It turns out that by one important measure — changes in real G.D.P. since the recession began — Britain is doing worse this time than it did during the Great Depression. Four years into the Depression, British G.D.P.

George Osborne remains open to a compromise currently being fleshed out at a high level between the Independent Commission on Banking, regulators and the UK’s biggest banks that could substantially minimise the extra costs of banking reform, IFR understands. The UK Chancellor of the Exchequer will tonight endorse ICB proposals outlined in April on how to make the country’s banking system safer, giving his support to plans to ring-fencing essential retail operations so as to protect them from a failure in other parts of the same firm. Although Osborne’s statement will surprise many, coming we