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European restructuring watch alert : the Finance Act 2020: provisions for joint and several tax liability for directors, managers, shareholders and lenders

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).

United Kingdom, Insolvency & Restructuring, Litigation, Tax, Weil Gotshal & Manges LLP, Corporate governance, HM Revenue and Customs (UK)
New tax developments for insolvency and restructuring deals

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

United Kingdom, Insolvency & Restructuring, Litigation, Tax, Weil Gotshal & Manges LLP, HM Revenue and Customs (UK)
New tax developments for insolvency and restructuring deals

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

United Kingdom, Insolvency & Restructuring, Litigation, Tax, Weil Gotshal & Manges LLP, HM Revenue and Customs (UK)
Aktuelle Entwicklungen

Reform des Insolvenzanfechtungsrechts

Das Gesetz zur Reform des Insolvenzanfechtungsrechts ist am 05.04.2017 in Kraft getreten. Im Fokus steht mit § 133 InsO die sogenannte Voranfechtung, die bislang in ihrer Ausprägung durch die Rechtsprechung des Bundesgerichtshofs in der Kritik stand. Im Ergebnis musste ein Gläubiger so bereits dann mit einer Insolvenzanfechtung durch den Insolvenzverwalter rechnen, wenn er seinem Schuldner eine Ratenzahlung gewährte.

Germany, Arbitration & ADR, Insolvency & Restructuring, Litigation, Clyde & Co LLP