Pre-packs sales are an important arrangement within Administrations and insolvency law. However, their usage has sometimes been considered “controversial”. In response to criticism and following a recent review of existing industry measures, the Government introduced The Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (“the Regulations”). Coming into force on 30 April 2021, the Regulations will provide a new legal framework for pre-packs.

An appellate court judgment will bring comfort to liquidators of insolvent companies in respect of the limitation periods applicable in cases of fraud or deliberate concealment

The interesting times of the last 14 months were preceded by the interesting times of the financial crisis of 2008/2009. The reverberations of that financial crisis had a profound effect upon governments’ presumptions as to the financial stability of economies generally but also the financial stability of sectors such as financial services.

In brief

Duty of care in tort not established in favour of main contractor from third party sub consultant

The Corporate Insolvency and Governance Act 2020 introduced a number of temporary changes to UK insolvency laws last year. Those changes, together with other measures such as the moratorium on forfeiture proceedings have recently been extended, we assume, to avoid the perceived cliff edge of insolvencies that might follow if such measures are brought to an end abruptly.

Last year, temporary changes to the bankruptcy process were brought in by the Scottish Government, to help individuals financially impacted by the pandemic. Scottish ministers have now introduced the Bankruptcy (Miscellaneous amendments) (Scotland) Regulations 2021, to make some of those changes permanent.

The main purpose of these measures is to improve access to minimal asset process bankruptcy ( "MAP" a form of bankruptcy typically aimed at people with low income and few assets) and to reduce the cost for debtors seeking bankruptcy more widely.

Following the end of the flexibilities afforded by The Corporate Insolvency and Governance Act 2020 (CIGA) in relation to the conduct of general meetings and following the publication of guidance by The Chartered Governance Institute (ICSA) we have reviewed notices of Annual General Meetings (AGMs) to be held after 30 March 2021. We set out some common themes around how companies are organising their AGMs in light of the guidance issued and the current restrictions in place.

On 24 March 2021, further extensions were announced to the range of government measures aimed at protecting UK companies and directors affected by COVID-19.

Measures extended to 30 June 2021

Last year saw a wave of insolvency-related legislation introduced which was largely in response to the ongoing coronavirus pandemic but which also saw permanent reforms which have, and will continue to have, an impact on the logistics industry as well as supply-chains generally.