SUMMARY

The Government is attempting to shackle transfers to connected parties by way of pre-pack Administration.

The new draft 'Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021', published 24 February (Draft Regulations), are designed to further increase transparency for the wider stakeholder body in connection with pre-packaged Administration business and asset sales to management, sponsors and other connected parties.

How the night time industries could make it through the last months of lockdown

In his address to the nation on Monday afternoon, the Prime Minister set out the government’s roadmap for cautiously easing lockdown restrictions in England. He shared the latest data on infection rates, hospitalisations and deaths, as well as early data showing the efficacy of vaccines.

The roadmap for leaving lockdown, which was published on gov.uk on Monday, seeks to balance health, economic and social factors with the very latest epidemiological data and advice.

In keeping with the general theme of this 'new year', the insolvency division of the English High Court started 2021 in much the same way as it finished off 2020.

It followed up its landmark judgment in Re Tokenhouse VB Limited [2020] EWHC 3171 (Ch) (Tokenhouse) with a decision in the case of Re NMUL Realisations Limited [2021] EWHC 94 (Ch) (NMUL), in ruling that failure to comply with procedural notice provisions did not invalidate the appointment of the administrators.

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:

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