Insolvency relief extended to 31 December 2020
On Sunday, the Federal Government announced that it will extend until the end of the year insolvency relief measures which were put in place from March 2020 as part of its response to the COVID-19 pandemic which were due to expire on 25 September 2020.[1]
在与向英国供货的国际公司合作的过程中，我们发现了一些常见问题。前几篇文章探讨了供应商可采用的合同付款保护措施。在“五行”系列第三篇文章中，我们将以“水”元素为主题，阐释当客户面临财务困难带来的不确定性及正式破产程序的严冬时会出现什么情况。
水：了解在客户破产情况下的情势及此时供应商享有的权利
在我们提供法律服务的供应商中，其大多数客户都是英国有限公司。供应商的客户在遭遇财务困难后会根据英国法律进入破产程序。因此，对我们的国际客户而言，明白自己的客户破产对自己意味着什么，这非常重要。
客户进入管理程序，意味着有机会保持业务的持续经营。在此种情况下，客户公司受管理人控制，管理人的目标之一是满足公司债权人的要求。并不能保证所有债权人都能得到全额偿付，因为这主要取决于公司资产的价值。然而，部分债权人（如员工和税务机关——英国税务海关总署）会优先于无担保债权人受偿。如果在任何时候确定无法继续保持业务的持续经营，则管理程序可转为清算程序。许多管理程序以出售业务和资产告终，这可以通过一个“预打包”过程予以实现(即在任命管理人前安排出售，以促成这笔交易)。在此种情况下，债务仍由公司承担，从出售所得中偿还，但不可能对新的资产所有者进行追索。
With COVID-19 causing ever increasing financial uncertainty around the globe, we thought it an apt time to provide you with a summary of the various corporate insolvency procedures in the UK applicable to companies facing financial difficulties. Taking each in turn, we will discuss administration, administrative receivership, company voluntary arrangements, schemes of arrangement and liquidation. We will also touch briefly on directors’ duties, rules relating to asset distribution on insolvency and transactions that may be set aside on insolvency or ‘reviewable’ transactions.
中英企业交易中的“五行”元素——第一部分：金
在与向英国供货的国际公司合作的过程中，我们发现了一些常见问题。本系列五篇文章围绕“五行”的各个元素展开探讨，指出了供应商在和英国客户做生意过程中面临的关键风险，以及供应商如何才能最好地保护自己，从而确保其商务活动和商业关系的和谐。第一个元素“金”确保供应商得到应得的货款，避免或尽量减少风险、困难和难以解决的困境。
金：及时获得全额付款，让您的业务和商业关系发展壮大
在协助我们的国际贸易客户处理的各种事项中，最常见的是追款。因此，我们建议所有供应商在签订合同或根据标准商业条款向客户供货时，确保在客户违约的情况下尽可能让自己处于最有利的境地。
对供应商而言，最有利的索赔是财产索赔。根据所有权保留条款，在客户未付清货款前，供应商仍对交付给客户的货物拥有所有权。如果客户破产，供应商有权收回货物（或收取货款）。
其他合同保护措施包括：
Introduction
In the current COVID-19 environment it is likely that there will be more businesses becoming insolvent. Some of those businesses will have an interest in Jersey property. For example as owners of Jersey property or holders of a lease of retail premises situated in the Island. The business may also have locally employed employees to consider.
Adopting the analysis of the United Kingdom Jurisdictional Task Force ('UKJT") on the proprietary status of crypto currencies, a recent decision of the English High Court, AA v Persons Unknown,[1] has found that crypto assets such as Bitcoin are "property" and therefore capable of being the subject of a proprietary injunction or freezing order.
The high profile insolvency of Jersey company Orb a.r.l (Orb) and its sole shareholder Dr Gail Cochrane (Dr Cochrane), a local GP, has firmly placed Jersey's insolvency regime in the spotlight. The matter commenced in late 2016 and has continued to build throughout the course of 2017 and 2018, with related proceedings in the BVI and before the High Court in England and interested parties ranging from the Serious Fraud Office to law firms.
The anticipated rise in UK and European corporate insolvencies over the next two years should be prompting both borrowers and lenders to take early advice where they have concerns about businesses' solvency outlook, says Ogier offshore restructuring specialist Simon Felton.
Simon, a partner in Ogier's Banking & Finance team was involved in several post financial crisis restructurings, including the receivables trustee of a £13.5bn portfolio of UK RMBS as well as portfolios of loans in the Irish banking industry and regulatory capital in the Austrian banking sector.
Two recent decisions of the UK courts concern UK liquidation and administration of foreign companies
Refusal to Wind-Up Foreign Companies: Re Buccament Bay Limited [2014] EWHC 3130 (Ch)
The High Court of England and Wales may refuse to exercise its discretion to wind up companies incorporated abroad where there would be little likelihood of the petitioners deriving benefit from the winding-up.
The Privy Council has handed down judgment in the claim brought by the liquidators of Fairfield Sentry Limited ("Fairfield") against a number of redeemed investors, seeking to recover the amounts paid out to them on redemption.