UK COVID-19 Developments
HMRC updates its trading activities guidance
United Kingdom, Insolvency & Restructuring, Litigation, Tax, Proskauer Rose LLP, Coronavirus, European Commission, HM Revenue and Customs (UK), UK House of Commons, Court of Justice of the European Union
In the recent decision in Carlos Sevilleja Garcia v Marex Financial Limited,1 the Court of Appeal helpfully summarised the justifications for the English law rule against claims for reflective loss and confirmed that the rule applies equally to unsecured creditors of a company as it does to shareholders.
Highlights
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Dechert LLP, Unsecured debt, Court of Appeal (England and Wales)