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    UK Employment Law Update - December 2023
    2023-12-08

    Welcome to our monthly newsletter, with a summary of the latest news and developments in UK employment law.

    In this issue

    • Case law updates
    • Legislative developments
    • Other news
    • New guidance
    • Consultations

     Recent publications

    Filed under:
    United Kingdom, Scotland, Compliance Management, Employment & Labor, Insolvency & Restructuring, Litigation, Tax, Reed Smith LLP, Gender pay gap, Unfair dismissal, Insolvency, HM Revenue and Customs (UK), Leahy-Smith America Invents Act 2011 (USA), Transfer of Undertakings (Protection of Employment) Regulations 2006 (UK), Supreme Court of the United States, UK Supreme Court, Employment Appeal Tribunal
    Location:
    United Kingdom
    Firm:
    Reed Smith LLP
    Collective redundancies on insolvency: administrators’ responsibilities and liabilities
    2023-12-01

    When an employer is insolvent and administrators appointed, job losses are often an inevitable consequence. In this blog we look at the legal obligations arising where redundancies meet the threshold for collective consultation, and the implications for administrators arising out of the recent Supreme Court in the case of R (on the application of Palmer) v Northern Derbyshire Magistrates Court and another.

    When does the legal obligation to collectively consult apply?

    Filed under:
    United Kingdom, Employment & Labor, Insolvency & Restructuring, Litigation, Reed Smith LLP, Unfair dismissal, Insolvency
    Authors:
    Carl De Cicco , Linton Bloomberg , Alison Heaton
    Location:
    United Kingdom
    Firm:
    Reed Smith LLP
    Australia: Far reaching questions - Examination powers to assist Cross-Border liquidation
    2023-11-21

    In brief

    The Federal Court has recently conferred examination powers on an offshore trustee who was foreign representative for the purposes of obtaining Model Law recognition of a Swiss insolvency proceeding for the purposes of undertaking public examinations in Australia.

    The decision is a reminder of the flexibility of the Model Law in assisting the recovery of assets and claims in aid of a foreign insolvency proceeding.

    Key takeaways

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, Baker McKenzie, Insolvency
    Authors:
    Maria O'Brien , Ian Innes
    Location:
    Australia
    Firm:
    Baker McKenzie
    The Right of Set-off in Insolvency Proceedings
    2023-12-15

    December 2023

    The Right of Set-off in Insolvency Proceedings

    MAYER BROWN | THE RIGHT OF SET-OFF IN INSOLVENCY PROCEEDINGS

    Filed under:
    Germany, United Kingdom, Insolvency & Restructuring, Mayer Brown, Insolvency, Federal Court of Justice
    Location:
    Germany, United Kingdom
    Firm:
    Mayer Brown
    Full-steam Ahead for Mainland-Hong Kong Cooperation Mechanism to Recognise and Assist Insolvency Proceedings in Pilot Areas and Beyond
    2023-12-06

    The pilot measure for mutual recognition and assistance of insolvency proceedings between the courts of three pilot areas in Mainland China and Hong Kong was agreed in mid-2021, which is known as the Cooperation Mechanism.

    Since then, liquidators in Hong Kong have had a more certain and structured route to seek, through Hong Kong Court, recognition and assistance from the designated Mainland courts in the three pilot areas including Shanghai, Shenzhen and Xiamen.

    Key Takeaways

    Filed under:
    China, Hong Kong, Insolvency & Restructuring, Litigation, Mayer Brown, Insolvency
    Location:
    China, Hong Kong
    Firm:
    Mayer Brown
    Is Insolvency a Prerequisite To Filing a Chapter 11 Case?
    2024-02-12

    Conventional wisdom suggests there is no requirement that a debtor be “insolvent” to file a case under Chapter 11 or any other chapter of the Bankruptcy Code. No Code provision explicitly imposes such a requirement. Yet in 2023, several courts addressed the issue, and two courts directed the dismissal of massive Chapter 11 cases imposing what may fairly be characterized as an insolvency requirement.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Fredrikson & Byron PA, Insolvency, Chapter 11, US Bankruptcy Code
    Authors:
    James L. Baillie , Katherine A. Nixon
    Location:
    USA
    Firm:
    Fredrikson & Byron PA
    Holt Fund SPC: Restructuring Officers, SPCs and the dual approach to solvency
    2024-02-02

    In the Matter of Holt Fund SPC (Unreported, 26 January 2024) is the first occasion where an application has been made to appoint Restructuring Officers over portfolios of a segregated portfolio company. At first glance the judgment appears uncontroversial. However, it highlights a lacuna in the law which readers should be aware of.

    Background

    The Petitioner sought the appointment of Restructuring Officers (ROs) in respect of two segregated portfolios of the Holt Fund SPC.

    Filed under:
    Cayman Islands, Insolvency & Restructuring, Litigation, Mourant, Insolvency, Receivership
    Authors:
    Simon Dickson , Nicholas Fox
    Location:
    Cayman Islands
    Firm:
    Mourant
    Requirement to substantiate German debtor's illiquidity remains high
    2023-09-06

    Where a creditor believes that a debtor is insolvent, any “third-party application” that it makes for the insolvency of the debtor must be well substantiated.

    Decision

    The District Court of Hamburg recently considered an application for insolvency on grounds of illiquidity due to default in social security contributions.

    A landmark decision of the German Federal Court (13 June 2006 – IX ZB 238/05) held that the illiquidity of a company could be assumed where it was in default for more than six months of social security contributions.

    Filed under:
    Germany, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency
    Authors:
    Dr. Rembert T. Graf Kerssenbrock
    Location:
    Germany
    Firm:
    Taylor Wessing
    English court considers directors' "creditor duty" in context of failed tax avoidance scheme
    2023-09-06

    In Hunt v Singh, the Court referred to the Supreme Court's landmark decision in BTI v Sequana (see our alert) in deciding when the directors' duty to creditors arose.

    Background

    Marylebone Warwick Balfour Management Limited (the Company), entered a tax avoidance scheme between 2002 and 2010 which the directors, on professional advice, believed to be valid.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Tax, Taylor Wessing, Tax avoidance, Insolvency
    Authors:
    Louise Jennings , Isabelle Moisy
    Location:
    United Kingdom
    Firm:
    Taylor Wessing
    English court considers directors' "creditor duty" in context of failed tax avoidance scheme
    2023-09-06

    In Hunt v Singh, the Court referred to the Supreme Court's landmark decision in BTI v Sequana (see our alert) in deciding when the directors' duty to creditors arose.

    Background

    Marylebone Warwick Balfour Management Limited (the Company), entered a tax avoidance scheme between 2002 and 2010 which the directors, on professional advice, believed to be valid.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Tax, Taylor Wessing, Tax avoidance, Insolvency
    Authors:
    Louise Jennings , Isabelle Moisy
    Location:
    United Kingdom
    Firm:
    Taylor Wessing

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