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    Ball (liquidator of PV Solar Solutions Ltd) and another -v- Hughes and another [2017] EWHC 3228 (Ch)
    2018-02-16

    The Facts

    PV Solar Solutions Ltd (the "Company") supplied and installed solar panels. When the government reduced preferential tariffs, the Company's profits were affected and it entered Administration in May 2013. The Company subsequently entered into voluntary Liquidation in November 2014.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Ashfords LLP, Companies Act 2006 (UK), HM Revenue and Customs (UK), High Court of Justice
    Authors:
    Cathryn Kozlowski , Connor Pierce
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Algeco Scotsman PIK SA [2017] EWHC 2236 (Ch)
    2017-12-18

    The High Court considered whether it would be appropriate to approve a scheme of arrangement for a company incorporated in Luxembourg where the company's COMI had been moved to England and there had been a change in the governing law and jurisdiction clause in favour of the English courts.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Ashfords LLP, Insolvency Act 1986 (UK), High Court of Justice
    Authors:
    Alan Bennett , Iona Jones
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Bankruptcy / Partnership Winding Up Affecting Farmers
    2017-10-27

    Following our previous article about farms facing insolvency as a limited company, we will now discuss the implications of insolvency on a sole trader or partnership.

    Farmers running their business as a sole trader could face personal bankruptcy in the event the business faces financial difficulty.

    Filed under:
    United Kingdom, Agriculture, Company & Commercial, Insolvency & Restructuring, Ashfords LLP, Bankruptcy
    Authors:
    Olivia Bridger
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Thomas Dowling v Promontoria (Arrow) Limited
    2017-10-25

    Alan Bennett and Crispin Jones successfully acted for Mr Dowling in his application to set aside a Statutory Demand served on him by Promontoria (Arrow) Limited ("Promontoria") in the sum of €6,338,675.93. The decision has wide reaching implications for creditors seeking to rely on guarantees.

    Filed under:
    United Kingdom, Banking, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Ashfords LLP, Bankruptcy, Private equity, Debt
    Authors:
    Olivia Bridger
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    New Dutch Bill introduces pre-insolvency measures in the Netherlands
    2017-09-29

    The Dutch government has published a new draft of the Dutch Continuity of Enterprises Act II (the "WCO II") which seeks to introduce pre-insolvency measures in the Netherlands.

    Filed under:
    Netherlands, Company & Commercial, Insolvency & Restructuring, Ashfords LLP
    Authors:
    Alan Bennett , Iona Jones
    Location:
    Netherlands
    Firm:
    Ashfords LLP
    Pre-Action Protocol for Debt Claims commencing 1 October 2017
    2017-09-28

    Any business owner will know the importance of consistent cash flow to the success of their business. On 1 October 2017, a new Pre-Action Protocol for Debt Claims will come into force. The new Protocol will make the process of claiming debts from unwilling debtors slower and more onerous for creditors as a new mandatory process before a claim can be issued is required, with longer timescales. It also aims to avoid court proceedings wherever possible, firmly encouraging parties to engage in alternative forms of dispute resolution.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Ashfords LLP
    Authors:
    Katie Farmer
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Re. Arck Estrella Limited, Representation of Rendle and Butcher [2017]JRC004 and [2017]JRC042
    2017-04-26

    English Liquidators of a fraudulent investment company were able to navigate a complex web of defunct companies and trusts to realise assets in a Jersey company.

    The partners of Arck LLP (in Liquidation), registered in England ("Arck"), an investment firm, were convicted of fraud and forgery. Richard Clay, thought to be the driving force of the scandal, is now serving a 10 years 10 months prison sentence and his deputy Kathryn Clark received a two year suspended sentence.

    Filed under:
    Jersey, United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, White Collar Crime, Ashfords LLP
    Authors:
    Alan Bennett , Sarah Shrimpton
    Location:
    Jersey, United Kingdom
    Firm:
    Ashfords LLP
    Placing a Company into CVL
    2017-03-27

    Changes to the Insolvency Act 1986 ("Act")

    SBEEA 2015 makes a host of supplemental amendments to the Act, the general effect of which is remove references to creditors' meetings and replace them with the alternative decision processes.

    As a consequence:

    Filed under:
    United Kingdom, Banking, Company & Commercial, Insolvency & Restructuring, Ashfords LLP, Companies Act 2006 (UK), Insolvency Act 1986 (UK)
    Authors:
    Alan Bennett
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Global Corporate V Hale Appeal Decision
    2018-11-28

    To no great surprise, the Global Corporate v Hale appeal decision has gone against the director. The Court of Appeal handed down the eagerly awaited judgment on 27 November 2018.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Ashfords LLP, Dividends
    Authors:
    Katie Farmer
    Location:
    United Kingdom
    Firm:
    Ashfords LLP
    Learning from Agent Provocateur: Are ‘pre-pack’ deals worth your while?
    2017-03-15

    This article was first published in Growth Business, and the original article can be found online here.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Ashfords LLP
    Authors:
    Katie Farmer
    Location:
    United Kingdom
    Firm:
    Ashfords LLP

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