The INSOL International Channel Islands Seminar took place on 13 September 2017 in Guernsey, where tensions rose high as jurisdictions battled it out for the crown of the "go-to" jurisdiction for cross border restructurings.

The aim of a payment action is to recover monies due. Obtaining a positive judgment from the court is just the first step in that process. The party with the benefit of the judgment still needs to enforce the order if payment is not made. This guide describes what enforcement means in practice and the approach to enforcement in Scotland.

Getting started

To enforce a court decree in Scotland, creditors need to do the following:

In our “Insolvency in the fashion retail sector: the risks and opportunities” article in the Q2 edition of Global Insight, we looked at the challenges the fashion retail industry faces today and the opportunities available for both existing players and new market entrants in the context of insolvent business acquisitions. In this article we comment in more detail on these opportunities and consider some of the factors and risks to be aware of when purchasing an insolvent fashion retail business and its assets.

OPPORTUNITY ARISES OUT OF ADVERSITY

This is an amended version of an article which was first published on LexisPSL.

The Corporate Insolvency and Governance Act 2020 makes the most significant changes to UK insolvency law in a generation. The Act introduces three permanent measures: a new free standing moratorium, a new restructuring plan process (largely modelled on schemes of arrangement but with the addition of a cross-class cram-down), and restrictions on termination of contracts for the supply of goods and services. The moratorium and the restructuring plan are of particular significance to secured lenders, and this note addresses some of the most frequently asked questions by the ABL community.

An insight into the key issues and challenges facing global infrastructure projects, and a look at possible solutions and mitigations.

In brief

Cross-border insolvency of multinational groups

WGV aims to agree a set of key principles and draft text for a regime to address crossborder insolvency in the context of enterprise groups (defined widely to mean any entity, regardless of its legal form, that is engaged in economic activities and may be governed by insolvency law). This has started to take a form most suited to a stand-alone supplement to the Model Law. The Group’s secretariat produced a draft legislative text, incorporating three principles agreed by WGV. The three principles are:

Political and economic uncertainty in the aftermath of the referendum result in the UK has dampened sentiment on the high street and hit consumer confidence.

According to the National Institute of Economic and Research, there is an "even" chance of Britain falling into recession by the end of next year and the Bank of England has significantly reduced its growth forecast for 2017.

The UK Government has released a long awaited consultation document proposing new controls on IT suppliers’ dealings with customers facing insolvency.

To a degree this brings the termination provisions of the UK’s insolvency rescue regimes (administration and company voluntary arrangements) in line with some other jurisdictions, such as the US, which, broadly, do not allow supplier termination for customer insolvency.

Introduction