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    Corporate Insolvency and Governance Act 2020
    2020-07-01

    Introduction

    On 20 May 2020, the UK Government published the Corporate Insolvency and Governance Bill (the “Bill”). The Bill was published in response to Covid-19 with a view to assisting companies and directors through these challenging times.

    Filed under:
    United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Coronavirus
    Authors:
    Martin Brown , Julian Turner
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Compensation orders against disqualified directors - Four years in the making
    2019-11-26

    Background

    The aim of the compensation order regime, to make directors financially account for the consequences of their unfit conduct, applies to directors’ conduct after 1 October 2015 and gives the Secretary of State (“SoS”) the power to apply for a compensation order against a director who is either subject to a disqualification order or who has given a disqualification undertaking and the conduct of that person has caused loss to one or more creditors of the insolvent company.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP
    Authors:
    Julian Turner , Rebecca Hennis
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Annual Review of English Construction Law Developments - An international perspective
    2017-06-08

    Annual Review of English Construction Law Developments May 2017 An international perspective CMS_LawTax_CMYK_28-100.eps Contents 3 Introduction 5 The interpretation of exclusion and limitation clauses: clarity restored 9 Good faith in the exercise of termination rights 13 Concurrent delay: recent developments and continued uncertainty 19 Contractual warranties and representations: telling the difference 23 On demand securities: the fraud exception in cases of legal uncertainty 31 On-demand securities: compliance with formalities and the doctrine of strict performance 37 Indirect and consequ

    Filed under:
    United Kingdom, Scotland, Arbitration & ADR, Construction, Energy & Natural Resources, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Court of Appeal of England & Wales, UK Supreme Court, Technology and Construction Court, Commercial Court (England and Wales)
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    The effect of dissolution and disclaimer on property rights
    2015-11-05

    Introduction

    We recently commented on a Scottish case involving dissolution, disclaimer and restoration (read our Law-Now here). There has now been an English case raising the same issues which on the face of it analyses the same provisions of the Companies Act 2006 (UK wide legislation) in a different way to achieve the same result.

    The approach of the courts

    Filed under:
    United Kingdom, Scotland, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Companies Act 2006 (UK)
    Authors:
    Emma Pinkerton
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    “Are you anticipating a debt rescheduling?”
    2013-10-04

    Two recent cases (Torre Asset Funding Limited & anr v The Royal Bank of Scotland plc [2013] EWHC 2670 (Ch) and Grupo Hotelero Urvasco S.A. v Carey Value Added S.L.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Debtor, Debt, Default (finance), High Court of Justice
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Insolvency – FINRA dismissal automatically unfair even where no transferee identified
    2011-12-19

    The Court of Appeal has held in the recent case of Spaceright Europe Ltd v Baillavoine and another (2011) that a dismissal can be for “a reason connected with the transfer” under the Transfer of Undertakings (Protection of Employment) Regulations 2006 (“TUPE”) even if there is no particular transfer or transferee in existence or contemplation at the time of the dismissal. In the case Mr Baillavoine, the Chief Executive of Ultralon Holdings Ltd (“Ultralon”), was dismissed on the day Ultralon was placed into administration.

    Filed under:
    United Kingdom, Employment & Labor, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Transfer of Undertakings (Protection of Employment) Regulations 2006 (UK)
    Authors:
    Sarah Ozanne , Anthony Fincham , Alison Woods
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Arbitration and insolvency - a battle of priorities
    2021-12-15

    Insolvency related claims in relation to contracts subject to arbitration agreements continue to result in interesting challenges for the English court. In a recent decision the court had to decide whether an application for a summary judgment amounted to a step in the proceedings such that the applicant had waived its right to seek a stay in favour of arbitration.

    Background

    Filed under:
    United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Corporate Insolvency and Governance Bill: advertisement of winding up petition restrained before Bill enacted
    2020-06-24

    Last week, in Re a Company (Application to Restrain Advertisement) [2020] EWHC 1551 (Ch) the High Court restrained the advertisement of a winding up petition on grounds of the impending changes to insolvency legislation, which are intended to have a retrospective effect.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Coronavirus
    Authors:
    Vanessa Whitman
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    The TCC opens the door (slightly) for adjudication proceedings by companies in liquidation
    2019-11-12

    A recent TCC decision has provided further guidance on a liquidator’s options when seeking payments owed to insolvent companies through adjudication and the interplay with the Insolvency Rules. The decision establishes an exception to the general principle that such adjudication proceedings will not be enforced (and are liable to be injuncted) where the responding party has a cross-claim.

    Filed under:
    United Kingdom, Construction, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP
    Authors:
    Matthew Taylor
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Court refuses application for pre-action disclosure of insurance policy
    2017-05-16

    Court refuses application for pre-action disclosure of insurance policy

    The High Court has refused an application for pre-action disclosure of the public liability insurance policy of a company that, if litigation were pursued against it, was likely to become insolvent.

    Background

    Filed under:
    United Kingdom, Insolvency & Restructuring, Insurance, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, High Court of Justice
    Authors:
    Alaina Wadsworth
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP

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