First, the not-so-great news in figures:
Elon Musk recently said he has a "super bad feeling" about the economy, pithily declaring what most financial commentators have been predicting in more technical terms.
Background
In R (on the application of Palmer) (Appellant) v. Northern Derbyshire Magistrates Court and another (Respondents), the Supreme Court held that an administrator appointed under the Insolvency Act 1986 (IA 1986) is not an "officer" of the insolvent company under section 194(3) of the Trade Union and Labour Relations (Consolidation) Act 1992 (TULRCA).
First, the not-so-great news in figures:
Elon Musk recently said he has a "super bad feeling" about the economy, pithily declaring what most financial commentators have been predicting in more technical terms.
Background
In R (on the application of Palmer) (Appellant) v. Northern Derbyshire Magistrates Court and another (Respondents), the Supreme Court held that an administrator appointed under the Insolvency Act 1986 (IA 1986) is not an "officer" of the insolvent company under section 194(3) of the Trade Union and Labour Relations (Consolidation) Act 1992 (TULRCA).
A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).
On 4 March 2024, the High Court approved the amended restructuring plan (the Plan) of Project Lietzenburger Straße Holdco S.à.r.L (the Company) a Luxembourg incorporated company part of the German Aggregate Holdings Group, despite refusing to sanction its original plan.
In 2021, the FCA published its Guidance for IPs on how to approach regulated firms. Since then, there have been changes in the legal framework affecting firm failure, changes in the regulatory framework and changes in the UK economic climate.
The FCA is consulting on amendments to reflect these changes including:
First, the not-so-great news in figures: