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    Company Directors Beware! Parliament Debates Extending Current Directors’ Disqualification Regime to Directors of Dissolved Companies
    2021-09-21

    The Ratings (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill, which is currently being considered in the House of Lords, contains significant implications for directors of dissolved companies.

    The key provisions of the Bill, which if passed is likely to become law in late 2021 or early 2022 and importantly expressly provide that it will have retrospective effect, are that the Insolvency Service will be able to:

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Armstrong Teasdale LLP, Coronavirus, House of Lords
    Authors:
    Molly Ahmed , Robert Paydon
    Location:
    United Kingdom
    Firm:
    Armstrong Teasdale LLP
    Commerce Department drops challenge to section 363 asset sale
    2011-04-22

    The federal government has stopped fighting court rulings that allowed an import company, which was facing steep penalty tariffs, to file bankruptcy and transfer its assets to a new business formed by the debtor's principals. The move is important to small to mid-size companies that want to rid themselves of substantial liabilities by selling assets to a new entity with identical ownership, "free and clear" under section 363 of the Bankruptcy Code.

    Filed under:
    USA, Corporate Finance/M&A, Insolvency & Restructuring, Armstrong Teasdale LLP, Bankruptcy, Credit (finance), Dumping (pricing policy), Investment banking, Liability (financial accounting), Tariff, Valuation (finance), US Department of Commerce, US Federal Government, Title 11 of the US Code, United States bankruptcy court
    Location:
    USA
    Firm:
    Armstrong Teasdale LLP
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