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    Liquidated Damages in Contracts - the who, what and why?
    2025-03-06

    We're often asked to advise on what is the appropriate level of liquidated damages for delay in a building contract. Whilst this is a commercial issue and therefore outside the remit of legal advice there are some principles relating to the application of liquidated damages that we can bring to the parties' attention.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Brodies LLP, UK Supreme Court
    Authors:
    Kirsteen Milne
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    Office Holders' Remuneration - the devil is in the details
    <br>
    2025-02-18

    This is the message the courts are sending to office holders seeking approval of their fees. In two recent English High Court decisions, both handed down by HHJ Cawson KC, the courts clearly expect office-holders, as fiduciaries, to produce a sufficient and proportionate level of information to justify the level of fees being claimed.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Brodies LLP
    Authors:
    Lucy McCann , Andrew Scott
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    Scottish Court persuaded, albeit only just, on the competency of retrospective administration orders
    2025-01-13

    The question of whether it is competent for the court to order a retrospective administration order has been the subject of much debate before the English courts. However, until now, there have been no reported Scottish decisions dealing with the point.

    Filed under:
    United Kingdom, Scotland, Insolvency & Restructuring, Litigation, Brodies LLP, Insolvency
    Authors:
    Lucy McCann , Andrew Scott
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    Shareholder disputes: just and equitable winding up - a remedy of last resort in shareholder disputes
    2024-09-06

    Shareholder disputes can often be complex and emotionally charged, particularly in small or family-owned companies where personal relationships and business interests are deeply intertwined. When such disputes reach an impasse, the law provides several mechanisms for resolution. In particular, disgruntled shareholders have the ability to bring statutory based claims against the company.

    Filed under:
    United Kingdom, Scotland, Company & Commercial, Insolvency & Restructuring, Litigation, Brodies LLP, Mediation, Companies Act 2006 (UK)
    Authors:
    Nicky-Ray Watson , Lucy McCann , Craig Watt
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    What do I do if….a creditor attempts to wind up my company?
    2024-03-19

    Whilst most people would hope it could never happen to them, in our experience it often can. As such it pays to be prepared.

    Filed under:
    United Kingdom, Scotland, Company & Commercial, Insolvency & Restructuring, Litigation, Brodies LLP, Supply chain
    Authors:
    Sarah Wilson , Lucy McCann
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    Key takeaways from delivering s.75 affordable housing contributions when the developer becomes insolvent
    2024-03-22

    For RSLs who are routinely contracting with housebuilders for golden brick delivery of affordable housing across multiple phases, we discuss the four key actions that can help if the housebuilder becomes insolvent.

    1. Pre-Insolvency – Financial Distress Provisions and Due Diligence

    Filed under:
    United Kingdom, Insolvency & Restructuring, Real Estate, Brodies LLP, Due diligence, Affordable housing
    Authors:
    Jenna Monteith , Elaine Petterson
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    Companies House: filing insolvency forms by email
    2020-04-17

    As part of its response to the COVID-19 situation, Companies House has announced that it will accept the filing of statutory insolvency documents via emailed PDF attachments.

    This measure applies to companies registered in Scotland, as well as England & Wales and is yet another practical example of the steps being taken to try and alleviate the administrative burden on insolvency practitioners.

    Filed under:
    United Kingdom, Healthcare & Life Sciences, Insolvency & Restructuring, Brodies LLP, Coronavirus
    Authors:
    Lucy McCann , Iain Penman
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    Company Voluntary Arrangements - considerations for landlords
    2024-02-14

    Landlords might be starting to feel a little uneasy given the news that Superdry is considering a Company Voluntary Arrangement (CVA). Superdry is reportedly working with accountants to hash out a plan that will likely involve shutting down certain stores and cutting rent liabilities. The accountants instructed will be exploring whether either a CVA or a Restructuring Plan - both of which are processes which allow businesses to seek to reduce their liabilities to creditors – would be appropriate.

    What exactly is a CVA?

    Filed under:
    United Kingdom, Insolvency & Restructuring, Real Estate, Brodies LLP, Insolvency, Corporate Insolvency and Governance Act 2020
    Authors:
    Sarah Wilson , Lucy McCann , Matthew Farrell
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    Trustee in sequestration of Derek Drummond v Derek Drummond,
    2024-02-06

    When individuals are made bankrupt in Scotland, the formal term is 'sequestration', a trustee will be appointed to deal with the sequestration. That trustee will be responsible, amongst other things, for contacting creditors, assessing their claims, ingathering the assets of the debtor and converting them into cash in order to settle the costs of the sequestration and pay dividends to creditors.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Brodies LLP
    Authors:
    Naomi Davies , Malcolm Gunnyeon , Ken Macdonald
    Location:
    United Kingdom
    Firm:
    Brodies LLP
    Landlords in Scotland: How to deal with tenant insolvency
    2024-02-28

    The first quarter of the year can often be a pinch point for tenants as they assess Christmas trading and scrutinise financial results. Where profits have failed to meet expectations then a tenant may require to consider formal insolvency proceedings but how does this affect the landlord? Here we consider some of the key questions for a landlord in Scotland facing tenant insolvency.

    What is the status of the tenant?

    Filed under:
    United Kingdom, Scotland, Insolvency & Restructuring, Real Estate, Brodies LLP, Insolvency
    Authors:
    Elaine Petterson , Jemma Deeney
    Location:
    United Kingdom
    Firm:
    Brodies LLP

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