When an employer is insolvent and administrators appointed, job losses are often an inevitable consequence. In this blog we look at the legal obligations arising where redundancies meet the threshold for collective consultation, and the implications for administrators arising out of the recent Supreme Court in the case of R (on the application of Palmer) v Northern Derbyshire Magistrates Court and another.
When does the legal obligation to collectively consult apply?
Two and a half years after the beginning of the COVID-19 crisis, and on the verge of an economic recession, important developments are emerging in Spanish insolvency law.
Tras dos años y medio desde que empezara la crisis del COVID-19 y a las puertas de una recesión económica, surgen novedades importantes en el Derecho de la Insolvencia en España.
On 24 February, the Government published draft regulations that, if implemented, will impose new restrictions on pre-pack administration sales to connected parties. For all `substantial disposals' (which will include `pre-pack' sales) to connected parties, taking place within eight weeks of the administrators' appointment, the administrators will either need creditor consent or a report from an independent `evaluator'.
Context
El RDL 16/2020 de 28 de abril y el Texto Refundido de la Ley Concursal, que entrará en vigor el 1 de septiembre de 2020, han suscitado numerosas cuestiones, a la vista de la situación compleja que previsiblemente se avecina. Para abordar, desde un punto de vista práctico y ágil, las principales novedades que plantean, Bird & Bird celebró el pasado 30 de junio un webinar, bajo el título Principales novedades en materia preconcursal y concursal a raíz del RDL 16/2020 y el nuevo Texto Refundido de la Ley Concursal.
As the Novel coronavirus (COVID-19) pandemic continues to spread across the globe, people and businesses are facing unprecedented challenges, both immediate and strategic. Governments in various jurisdictions have announced various measures to try to alleviate the distress caused by the numerous issues that have arisen and continue to arise, particularly around cashflow and employees.
Introduction
Introduction