This summer’s landmark Supreme Court decision in Michael J Lonsdale (Electrical) Ltd v Bresco Electrical Services Ltd (in Liquidation) [2020] UKSC 25 (“Bresco”) would have doubtless been interesting news for Insolvency Practitioners (“IPs”) engaged in the construction sector.
United Kingdom, Arbitration & ADR, Construction, Insolvency & Restructuring, Litigation, Charles Russell Speechlys, Coronavirus
Background: Financial Backdrop
The Stats
United Kingdom, Company & Commercial, Insolvency & Restructuring, Real Estate, Charles Russell Speechlys, Landlord, Coronavirus
Why are bankruptcy laws needed?
Over the past couple of years, there have been a wave of new insolvency and bankruptcy laws introduced in the GCC. With the exception of Qatar and Kuwait, all other GCC countries have now introduced new bankruptcy laws. As for Oman, its new bankruptcy law is due to come into effect on 1 July 2020.
United Arab Emirates, GCC, Construction, Insolvency & Restructuring, Charles Russell Speechlys, General contractor