publication of The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020. If approved by Parliament the scheme will come into force on 4 May 2021.
WHO WILL ADVOCATE FOR THE "HUMBLE" FLOATING CHARGE-HOLDER?[1]
Introduction
The Corporate Insolvency and Governance Act 2020 (the Act), which came into force on 26 June 2020, has been described as ushering in some of the most significant changes to the UK’s restructuring and insolvency regime in nearly 20 years.
Having successfully obtained a public interest winding-up order in Re PAG Management Services Limited [2015] BCC 720 which operated a business rates avoidance scheme using Members’ Voluntary Liquidations, the Secretary of State for Business, Energy and Industrial Strategy unsuccessfully tackled its successor in the Court of Appeal.
The scheme in this case (Scheme 3) was a variant upon two earlier schemes, Scheme 2 being no longer in operation following the public interest winding-up of PAG Management Services Limited.
In this article, we examine the repercussions of Debenhams Retail Ltd, Re [2020] EWCA Civ 600
Background
It is so obvious to say, but suppliers want to be paid for the goods or services they supply, and we are living in highly uncertain times with suppliers increasingly concerned about the ability of customers (or clients) to pay.
A new law recently came into force that has major implications for suppliers and what they can include in their contracts to protect themselves. Suppliers need to review and update their existing and new contracts as a result.
What Does the New Law Do?
Enforcement options in England & Wales – recent High Court judgment provides rare guidance on Orders for Questioning
Once the litigation or arbitration has been fought and you obtain a judgment in your favour, if your opponent does not pay up, a new process will begin in attempting to enforce that judgment.
A comparison of the new Dutch Scheme and the new UK Restructuring Plan.
Introduction
A comparison of the new Dutch Scheme and the new UK Restructuring Plan.
Introduction
Why has it been difficult to get a winding-up order?
The Corporate Insolvency and Governance Act 2020 (CIGA 2020) came into force on 26 June. Under CIGA 2020, creditors are (currently until 30 September 2020, although the period may be extended) unable to present a winding-up petition on the basis of: