At the end of February 2023, the High Court sanctioned seven restructuring plans for companies in the Lifeways group. Lifeways is a group providing supported living and specialist residential, support and care services at properties throughout the UK.
The case raised several interesting aspects, particularly in relation to the conduct of creditor meetings for a restructuring plan where cross class cram down is sought, and whether there is a read across from scheme case law on this issue.
On 18 March 2021, the UK Government published its white paper on restoring trust in audit and corporate governance. On 31 May 2022, the Government published its response to the consultation.
On 18 March 2021, the UK Government published its long-awaited white paper on restoring trust in audit and corporate governance.
This follows a series of high-profile audit errors and major corporate collapses, including those of BHS in 2016 and Carillion in 2018, which led the Government to commission three independent reviews into different aspects of the UK’s audit, reporting and corporate governance systems.
The white paper targets large listed and AIM-listed companies, and large private companies where there is a public interest, and primarily focuses on:
The COVID-19 pandemic in Germany is significantly affecting commercial landlords and tenants. The German legislator has taken various measures to mitigate the consequences of officially ordered business closures during lockdown and other pandemic-related adverse effects.
The German parliament has adopted new legislation yesterday which is expected to become law soon. This briefing summarises the changes made, as well as a number of other legal aspects we find noteworthy in current times with regard to the real estate sector.
On 25 March 2020, the German Parliament (Bundestag) passed, in connection with the COVID-19 pandemic, significant changes in law (the “New Law”). These changes are subject to approval by the Federal Council (Bundesrat), which, however, is expected to be granted soon.