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    Should directors be concerned about return of HMRC Crown Preference?
    2020-11-18

    The Golden Globe Award-winning Netflix series is not the only ‘Crown’ returning prior to Christmas 2020. HMRC’s preferential creditor status is also being restored on 1 December 2020.

    Filed under:
    United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Keystone Law, Brexit, Due diligence, Coronavirus, HM Revenue and Customs (UK), Netflix
    Authors:
    Aman Sehgal
    Location:
    United Kingdom
    Firm:
    Keystone Law
    Assessing Your Business Viability and Director Risk Guide: 13 November 2020
    2020-11-16

    Ongoing uncertainties about the COVID-19 pandemic, coupled with the looming deadline of Brexit, mean businesses and owners are in for a tough ride over the next few months, possibly much longer if the UK continues to face restrictions.

    Filed under:
    European Union, United Kingdom, Company & Commercial, Employee Benefits & Pensions, Healthcare & Life Sciences, Insolvency & Restructuring, Public, Tax, Squire Patton Boggs, Brexit, Force majeure, Coronavirus, HM Revenue and Customs (UK)
    Location:
    European Union, United Kingdom
    Firm:
    Squire Patton Boggs
    Return of Crown Preference
    2020-11-16

    Almost 20 years ago the Government decided to abolish Crown Preference bringing it into step with other western jurisdictions such as Germany and Australia. It was considered at the time "inequitable" to elevate the public purse above ordinary unsecured creditors for whom the impact was potentially far greater.

    Astonishingly, in the midst of a global pandemic and a looming "No Deal" Brexit, absent a dramatic last minute "U-turn" by the Government (let's face it, it wouldn’t be the first !), Crown Preference will return with effect from December 1st 2020.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Public, Tax, Addleshaw Goddard LLP, Brexit, Coronavirus, HM Revenue and Customs (UK)
    Authors:
    Fraser Ritson
    Location:
    United Kingdom
    Firm:
    Addleshaw Goddard LLP
    UK litigation review 2020
    2020-10-26

    The past year has seen some important judgments and hearings (with judgment awaited at the time of writing) on several subjects, some of which may shape the future of UK litigation for years to come. Litigants and litigators have also spent a good part of the year getting used to a new way of conducting litigation—remotely and fully electronically. Starting with contract law, while there has been little by way of Supreme Court guidance on the subject, the lower courts continue to issue interesting judgments.

    Filed under:
    European Union, United Kingdom, Banking, Company & Commercial, Insolvency & Restructuring, IT & Data Protection, Litigation, Public, Tax, A&O Shearman, Corporate governance, Brexit, Libor, Coronavirus, Barclays, HM Revenue and Customs (UK), Google, CJEU, House of Lords
    Location:
    European Union, United Kingdom
    Firm:
    A&O Shearman
    UK Government announces reform to pre-pack administrations
    2020-10-19

    On 8 October 2020, the UK Government published draft regulations applying to sales in administration by way of a 'pre-pack' to a connected party purchaser.

    UK pre-pack administrations

    A pre-pack administration is where:

    Filed under:
    European Union, United Kingdom, Insolvency & Restructuring, Freshfields Bruckhaus Deringer, Brexit, Coronavirus
    Authors:
    Richard Tett , Katharina Crinson , Edward Lewis
    Location:
    European Union, United Kingdom
    Firm:
    Freshfields Bruckhaus Deringer
    Civil Justice and Private International Law: New Guidance from the European Commission for post-Brexit Disputes
    2020-10-06

    Notice to stakeholders: Withdrawal of the United Kingdom and EU rules in the field of civil justice and private international law.

    On 27 August 2020, the European Commission published a ‘Notice to Stakeholders’ setting out how EU laws in the areas of civil justice and private international law will apply when the Brexit transition period ends on the 31 December 2020.

    This Notice replaces an earlier notice published in January 2019 and a document with questions and answers published in April 2019.

    Filed under:
    European Union, United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Public, LK Shields, Brexit, European Single Market, European Commission
    Authors:
    Richard Curran
    Location:
    European Union, United Kingdom
    Firm:
    LK Shields
    Governance & Compliance update - Issue 174
    2020-10-02

    Included in this update: Government extends temporary COVID-19 measures in CIGA 2020 and more...

    COVID-19

    CIGA 2020 extensions in force

    Filed under:
    European Union, United Kingdom, Capital Markets, Company & Commercial, Insolvency & Restructuring, Public, Tax, White Collar Crime, Addleshaw Goddard LLP, Brexit, Libor, Modern slavery, Money laundering, ESG, Coronavirus, Financial Conduct Authority (UK), European Commission, HM Revenue and Customs (UK), European Securities and Markets Authority, Modern Slavery Act 2015 (UK)
    Authors:
    Will Chalk , Richard Preston , Neville Moore
    Location:
    European Union, United Kingdom
    Firm:
    Addleshaw Goddard LLP
    Insights for In-house Counsel - October 2020
    2020-10-02

    Our regular round-up of recent developments and topics for your radar, news on training and networking events for in-house counsel, and an update on our legal tech initiatives.

    HIGHLIGHTS

    Filed under:
    European Union, United Kingdom, Arbitration & ADR, Banking, Capital Markets, Company & Commercial, Competition & Antitrust, Employee Benefits & Pensions, Employment & Labor, Environment & Climate Change, Insolvency & Restructuring, IT & Data Protection, Law Department Management, Litigation, Public, Real Estate, Tax, White Collar Crime, Travers Smith LLP, Bribery, Corporate governance, Brexit, Libor, Modern slavery, Big data, Mediation, Force majeure, Machine learning, Personal data, Cybersecurity, 5G network, Coronavirus, European Commission, HM Revenue and Customs (UK), GDPR
    Location:
    European Union, United Kingdom
    Firm:
    Travers Smith LLP
    The New UK Restructuring Plan - The “Super Scheme”
    2020-10-05

    The Corporate Insolvency and Governance Act, which received Royal Assent on 25 June 2020, contains a range of significant reforms, not least of which is the introduction of a new Restructuring Plan process dubbed the super scheme. The first such Restructuring Plan, used in the financial restructuring of Virgin Atlantic Airways (VAA), was sanctioned by the High Court on 2 September 2020 representing a new landmark in the UK restructuring landscape.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, DLA Piper, Brexit
    Authors:
    David Ampaw , David Manson
    Location:
    United Kingdom
    Firm:
    DLA Piper
    The critical moving parts in the coming months for the retail sector
    2020-09-25

    Along with tightening social controls, the months ahead will be defined by various critical relationships and the rules that govern them. Of course they all interlock: material change in any of them impacts each of the others. Which causes multiple complexities in decision-making and risk assessment processes, both within a business and when looking at critical suppliers and customers:

    Landlords and Tenants:

    Filed under:
    European Union, United Kingdom, Banking, Company & Commercial, Employment & Labor, Insolvency & Restructuring, Projects & Procurement, Public, Real Estate, Addleshaw Goddard LLP, Brexit, Coronavirus
    Authors:
    David Young
    Location:
    European Union, United Kingdom
    Firm:
    Addleshaw Goddard LLP

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