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    Some comfort for directors with the reintroduced suspension of wrongful trading
    2020-12-01

    The UK Government has reintroduced the temporary suspension of wrongful trading measures from 26 November 2020 until 30 April 2021 pursuant to The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations. The suspension was originally introduced in March 2020 under section 12 of the Corporate Insolvency and Governance Act 2020 and expired on 30 September 2020.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, DLA Piper, Coronavirus
    Authors:
    Sarah Archer
    Location:
    United Kingdom
    Firm:
    DLA Piper
    Corporate Insolvency and Governance Act 2020
    2020-07-09

    Intro

    The UK insolvency regime has changed. Our earlier alert set out a brief overview of the changes. This is note provides more detail and flags some practical steps that the suppliers of goods and services may wish to consider.

    In a nutshell

    Filed under:
    United Kingdom, Insolvency & Restructuring, IT & Data Protection, Litigation, DLA Piper, Coronavirus
    Location:
    United Kingdom
    Firm:
    DLA Piper
    Goods vehicle operator’s licenses in an insolvency context
    2019-06-25

    Navigating the road between regulatory compliance and business rescue

    When dealing with a goods vehicle operator in an insolvency context:

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Shipping & Transport, DLA Piper
    Location:
    United Kingdom
    Firm:
    DLA Piper
    The Financial Report, 27 July, News from Europe
    2017-07-27

    European Union

    Filed under:
    European Union, United Kingdom, Banking, Capital Markets, Insolvency & Restructuring, Insurance, White Collar Crime, DLA Piper, Memorandum of understanding, European Commission, European Banking Authority
    Location:
    European Union, United Kingdom
    Firm:
    DLA Piper
    Third Party (Rights Against Insurers) Act 2010 - benefits for lender claims
    2016-07-12

    Lenders contemplating potential claims against insurers of insolvent professionals will welcome the fact that the Third Parties (Rights Against Insurers) Act 2010 (2010 Act) is to finally come into force from 1 August 2016, having been updated by the Third Parties (Rights Against Insurers) Regulations 2016.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Insurance, Litigation, DLA Piper, Debtor, Solicitor, Mortgage loan, Liability (financial accounting), Negligence
    Location:
    United Kingdom
    Firm:
    DLA Piper
    APCOA: foreign companies increasingly using English schemes of arrangement
    2014-07-02

    With APCOA Parking, the English High Court sets out the latest line of authority in the increasing use of schemes of arrangement by foreign companies.

    This case, APCOA Parking (UK) Limited & Ors [2014] EWHC 997 (Ch), presents two novel aspects:

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, DLA Piper
    Authors:
    Jonathan Leitch
    Location:
    United Kingdom
    Firm:
    DLA Piper
    Fashion retail: Strengthening your business against supply chain disruption and customer insolvency risk
    2020-11-20

    The onset of COVID-19 has precipitated and accelerated substantial change for businesses in fashion retail, adding to particular headwinds already facing the sector in the UK. While many brick-and-mortar fashion retailers were already experiencing challenging trading conditions at the start of 2020 – ranging from rent and rates overheads to increased online competition – restrictions on and changes to consumer preferences resulting from the pandemic have intensified the challenges facing many fashion retailers and businesses operating in the supply chain.

    Filed under:
    United Kingdom, Insolvency & Restructuring, DLA Piper, Coronavirus
    Authors:
    Peter Manley , Chloe Ball
    Location:
    United Kingdom
    Firm:
    DLA Piper
    Room for manoeuvre for directors of UK companies? Corporate Insolvency and Governance Act temporarily modifies wrongful trading liability
    2020-07-05

    The rapidly changing impact of COVID-19 on companies and the wider economy presents directors with the unenviable task of balancing the immediate need to secure the survival of their company against the longer-term implications for their stakeholders. In March, the UK Government announced that wrongful trading measures would be temporarily suspended to ease this pressure. The suspension measures are included in the Corporate Insolvency and Governance Act 2020, which introduces both temporary measures, such as this, and permanent and significant changes to UK insolvency law.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, DLA Piper, Coronavirus, House of Lords
    Location:
    United Kingdom
    Firm:
    DLA Piper
    Goods vehicle operators' licenses in an insolvency context
    2019-06-25

    Navigating the road between regulatory compliance and business rescue

    When dealing with a goods vehicle operator in an insolvency context:

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Shipping & Transport, DLA Piper
    Authors:
    Richard Obank
    Location:
    United Kingdom
    Firm:
    DLA Piper
    New Pre-Action Protocol for Debt Claims in force from 1 October 2017. Are you ready?
    2017-06-22

    After a lengthy consultation period, the Pre-Action Protocol for Debt Claims (PAPDC) has now been finalised and will come into force on 1 October 2017. This protocol will apply to lenders who are seeking payment of a debt from an individual/ sole trader, as a debtor or guarantor. Now is the time to update your systems and procedures to accommodate the new protocol requirements.

    What is required?

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, DLA Piper, Credit (finance), Debtor, Consumer protection, Breach of contract, Debt, Consumer Credit Act 1974 (UK)
    Location:
    United Kingdom
    Firm:
    DLA Piper

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