Debt recovery, when to take legal action?
Debt recovery can be a frustrating and time‑consuming process for businesses. While legal action is often seen as a last… Continue Reading Debt recovery, when to take legal action?
Directors and Officers Liability Insurance Policy Recoveries in Insolvency
Directors and Officers Liability Insurance Policy Recoveries in Insolvency
As an insolvency practitioner, it is important to understand the potential value of a Directors and Officers Liability Insurance, and how to best leverage it for the benefit of the insolvent estate. If properly managed, claims under these policies can prove to a significant source of recovery capable of realisation or assignment. Continue Reading Directors and Officers Liability Insurance Policy Recoveries in Insolvency
Second letter to overseas entities who own or lease property or land in the UK
Second letter to overseas entities who own or lease property or land in the UK
According to land registry data, you may own or lease property or land in the UK as an overseas entity. You still need to register if you disposed of your property or land after 28 February 2022, if your property or land has not been registered with the land registry yet, or if your entity is based in a Crown Dependency or Overseas Territory. Continue Reading Second letter to overseas entities who own or lease property or land in the UK
The Rule In West Mercia
The Rule In West Mercia
The Supreme court handed down its long-awaited judgment in BTI 2014 LLC v Sequana SA on 5 October 2022 (the rule in West Mercia) where it affirmed the existence of directors’ Creditor Duty. Since 1988, the Court of Appeal rulings in West Mercia Safetywear Ltd (in liq) v Dodd [1988] BCLC 250 (popularly known as ‘the rule in West Mercia’) Continue Reading The Rule In West Mercia
Everything You Need To Know About Closing A Limited Company
Everything You Need To Know About Closing A Limited Company
When it comes time to close a limited company, especially one that you put a lot of effort into starting up, it can be an emotional and stressful time. One way to make this process less stressful is to know everything there is to know about closing a limited company. This way, you won’t be going backwards and forwards between different…. Continue Reading Everything You Need To Know About Closing A Limited Company
Pre-Pack Sales of Businesses From Administrations
Pre-Pack Sales of Businesses From Administrations
New regulations will add to the expense of many so-called “pre-pack” sales of businesses from administrations, but will hopefully not overly fetter the valuable use of this tool in saving insolvent businesses and jobs. The Administration (Restrictions on Disposal etc. to Connected Persons) Regulations….. Continue Reading Pre-Pack Sales of Businesses From Administrations
The Corporate Insolvency and Governance Act 2020
The Corporate Insolvency and Governance Act 2020
The Government implemented both temporary and permanent reforms to the UK insolvency regime in light of the COVID-19 (COVID) pandemic and resulting economic crisis. Significant changes were made by the Corporate Insolvency and Governance Act 2020 (CIGA) which aimed to ease the pressure on businesses…. Continue Reading The Corporate Insolvency and Governance Act 2020