Summary
The court's recent decision in Uralkali v Rowley [2020] EWHC 3442 (Ch) has significant practical considerations for insolvency practitioners conducting insolvency sales, as well as for relevant bidders/buyers looking for suitable acquisition opportunities.
Avoiding a Cliff-edge of Insolvencies? Observations ferom the recent House Of Lords debate on extension of creditior restrictions
RE IMAGINED
An analysis of the Restructuring Plan January 2021
Illustration: A world of complexity by Sam Hadley
RE IMAGINED: AN ANALYSIS OF THE RESTRUCTURING PLAN:
Last week saw the government further extend COVID-19 emergency insolvency provisions until 31 March 2021. Since April, these have:
UPDATE ON TEMPORARY PROVISIONS
COVID PROTECTIONS EXTENDED TO GIVE BUSINESSES A LAST CHANCE TO PLAN RECOVERY. TIME TO CONSIDER A COVID-19 CVA?
If the announcements last week on the lack of downward tier revisions for many areas is the bad news, the silver lining for the struggling and affected businesses came in the reinstatement of the temporary suspension on the use of statutory demands and winding up petitions until 31 March 2021.
- The hospitality industry has been fighting back against the Government's lockdown measures due to the lack of financial support, but there is absolutely no doubt that the worst is yet to come as having weathered lockdown 2.0, Government policy now looks set to deny many operators the ability to trade properly in the run up to Christmas, with hard hit businesses set to miss out on circa £7.8bn of trade.
- The majority of the temporary measures introduced by the Corporate Insolvency and Governance Act 2020 may have been extended, but directors remain mindful of their statutory duti
What are the principal types of insolvency proceedings?
In our previous update dated 5 November 2020, we looked at when it is reasonable for insolvency practitioners to continue litigation. In this article, we explore the circumstances in which personal costs orders may be made against liquidators.
Key points
Today, new legislation comes into force* that provides directors of companies in financial difficulty with a second breathing space from the financial impact of the wrongful trading provisions.