Having double dipped and bumped along the bottom, the UK economy's rollercoaster ride looks set to continue for some time to come. Yet despite these grim conditions, it has been surprising to see a year on year decline in the number of companies entering formal insolvency. Our restructuring group reports on the factors at play and their experience of the current market.
- Jackson reforms will go ahead in April 2013
The new Master of the Rolls, Lord Dyson, has confirmed that the Jackson reforms will come into force in April 2013, scotching rumours that the legislative process would not be completed in time. He emphasised the importance of the Court of Appeal's role in implementing the reforms, maintaining consistency and minimising satellite litigation, urging the court to "speak clearly through [its] judgments in explaining how the reforms are intended to operate". He also described the issue of costs management