If you have fraudulently obtained Covid-19 financial support, such as a Bounce Back Loan, you must be pretty worried by recent headlines that show company directors being disqualified, fined and jailed.
There is a sense of "judgment fatigue" when it comes to decisions about the validity of an administrator's appointment or the extension of the administrator's time in office. However, the decision of Deputy ICC Judge Curl QC, in the case of Re E Realisations 2020 Limited, is worth paying attention to.
It was the poet John Lydgate who first said that you can please some of the people all of the time; you can please all of the people some of the time, but you can't please all of the people all of the time.
Judicial comments cast doubt on the ability to compromise US law-governed debt effectively based on Chapter 15 recognition alone.
What does the "Wagatha Christie" debacle and the restructuring tool known as a CVA have in common? Answer: ask anyone and they will tell you exactly what "team" they support. Either you are "team CVA" and to you a CVA is a very useful restructuring tool, which allows a company to reorganise its affairs in a comprehensive manner. Alternatively you are "team landlord" and a CVA is just a device which is being used tactically to shaft property stakeholders.
It would appear that the trend we reported in the rising numbers of Scottish corporate insolvencies is showing no let up.
This question had until recent times been a conundrum of modern fixed charge receiverships (as well as receivers appointed under the Law of Property Act 1925), because in the scenario of the receiver seeking to step in and deal with property, the receiver is also said to be the borrower's deemed agent. It therefore begged a thorny question of the receiver, about how to reconcile being on both sides of the possession action.
There are significant differences in the procedures available to lenders north and south of the border when it comes to enforcing fixed charges or standard securities over real/heritable property. In this blog, we will compare the process in England & Wales ("E&W") of appointing a fixed charge or "LPA" receiver with the Scottish calling-up procedure
England & Wales: LPA receivers
Insolvency officeholders may need clearance upon appointment to entity in an affected sector.
The forecast for the English scheme and plan looks set fair despite concerns around Brexit turbulence.
The restructuring market’s appetite for Part 26 schemes of arrangement and Part 26A restructuring plans shows no signs of diminishing, with some debtors (Smile Telecoms and ED&F Man) even taking a second bite of the cherry. In this article, we explore recurring themes identified in the market throughout the past 18 months.
Out of the money, out of the room