The Finance Act 2020 provides that directors, managers, shareholders, lenders and others can be made jointly and severally liable for the outstanding tax debts of insolvent (or potentially insolvent) companies and limited liability partnerships (LLPs).

The below is a quick snapshot of three recent tax-related developments in the insolvency and restructuring sphere.

Farnborough – appointment of a receiver and tax grouping

The below is a quick snapshot of three recent tax-related developments in the insolvency and restructuring sphere.

Farnborough – appointment of a receiver and tax grouping

An article by the National Underwriter Company discusses a recent Moody’s report that asbestos claims are again on the rise after years of declining or flat claims.¹ This has led several insurers to increase their asbestos reserves and Moody’s views this trend as a warning flag for the property and casualty insurance industry as a whole.