As the UK emerges from the COVID-19 pandemic, the domestic construction industry can look forward to a bright but challenging future. Mortgages are at record lows; housing demand remains high and the wider economy is in optimistic mood. However, businesses are experiencing challenges associated with sourcing raw materials, staff shortages and the prospect that more companies will likely fail as government business support measures tail off.

Simona Kornhaas v Thomas Dithmar (Case C-594/14)

The ECJ have ruled that a director of an English company that had entered into insolvency proceedings in Germany is liable to reimburse the company under German law for payments made after the company became insolvent.

Edgeworth Capital Luxembourg Sarl (2) Aabar Block Sarl V Glenn Maud [2015] EWHC 3464 (Comm)

The High Court in England has ruled on whether Spanish Law has the effect of extinguishing third party guarantees when the beneficiary of the guaranteed liabilities enters into insolvency proceedings in Spain.

This article was first published by The Gazette and the full article can be found online here. 

In our June seminars we discussed the Pre-Pack Pool and the proposed changes to SIP 16. The revision was recommended by Teresa Graham as part of her independent review into pre-packs in June 2014, and the new SIP 16 was introduced on 2 November 2015 to coincide with the launch of the Pre-Pack Pool.

Key provisions of the revised SIP 16, which remains virtually unchanged from the draft issued in January this year, include: