Case: Darty Holdings SAS v Geoffrey Carton-Kelly (as additional liquidator of CGL Realisations Limited) [2023] EWCA Civ 1135
United Kingdom, Insolvency & Restructuring, Litigation, Sidley Austin LLP, Private equity, UK Supreme Court
The Employment Appeals Tribunal (EAT) has decided that the sale of a business by way of a pre-pack administration[1] did not result in a transfer of employees under the Transfer of Undertakings (Protection of Employment) Regulations 2006, (TUPE Regulations or TUPE).
TUPE Regulations
United Kingdom, Employment & Labor, Insolvency & Restructuring, Litigation, Fasken, Contractual term, Bankruptcy, Employment tribunal, Employment contract, Liability (financial accounting), Liquidation, Unfair dismissal, Subsidiary, Transfer of Undertakings (Protection of Employment) Regulations 2006 (UK), Employment Appeal Tribunal
Tax treatment in the hands of the creditor
Netherlands, Insolvency & Restructuring, Tax, Bird & Bird LLP, Tax exemption, Bankruptcy, Shareholder, Debtor, Dividends, Waiver, Accounts receivable, Taxable income, Debt, Tax deduction, Holding company, Distressed securities
Tax treatment in the hands of the creditor
If a creditor waives an intra-group receivable, this leads to an accounting loss in the amount of the receivable. Such loss, however, is not automatically tax-deductible in the hands of the creditor.
Germany, Insolvency & Restructuring, Tax, Bird & Bird LLP, Share (finance), Shareholder, Debtor, Security (finance), Waiver, Accounts receivable, Taxable income, Debt, Liability (financial accounting), Tax deduction, Fair market value, Distressed securities, Bénéfice, GAAP