If an employer intends to make 20 or more employees redundant, at one establishment, within a 90-day period, they must notify the Secretary of State at least 30 days before the first dismissal, as per Section 193(2) of the Trade Union and Labour Relations (Consolidation) Act 1992 (“TULRCA”). Failure to adhere to this requirement is a criminal offence. This legislation has been of great concern to insolvency practitioners who are often dealing with companies in a precarious position and do not have the luxury of time to comply with Section 193(2) TULRCA.

In April 2019, the Institutional Limited Partners Association (“ILPA”) released a set of considerations for Limited Partners and General Partners with respect to General Partner-led secondary fund restructurings (the “ILPA Memo”). The ILPA Memo can be viewed here.