In an effort to alleviate the impact of COVID-19 on UK businesses and encourage the supply of essential goods and services during the pandemic, the UK Government announced plans earlier this year to temporarily suspend wrongful trading laws and to fast track proposed permanent reforms to the existing insolvency regime (these reforms were developed in 2016 and consulted on in 2018).
United Kingdom, Insolvency & Restructuring, Projects & Procurement, King & Wood Mallesons, Due diligence, Coronavirus, UK House of Commons
Shlosberg v Avonwick Holdings Ltd & Ors [2016] EWHC 1001
Law firm Dechert LLP has been ordered to cease acting for the principal creditor of bankrupt Russian businessman, Mr Shlosberg, because it also acted for the trustees in bankruptcy, and accordingly had had access to documents subject to Mr Shlosberg's legal professional privilege.
Facts
United Kingdom, Insolvency & Restructuring, Legal Practice, Litigation, DAC Beachcroft, Confidentiality, Bankruptcy, Waiver, Discovery, Solicitor, Liquidation, Conspiracy (criminal), Vesting, Legal professional privilege, European Convention on Human Rights, Insolvency Act 1986 (UK), Trustee, High Court of Justice (England & Wales)