The current lockdown will not end until at least 2nd December 2020 which may cause significant financial problems for some companies, in some cases leading to insolvency. Directors of companies in financial distress may incur personal liability for the debts of their company. Here are some tips and practical steps Read more…
The press is reporting today that a fifth of small and medium-sized businesses in the UK are unlikely to have the cash they need to survive the next four weeks. In light of the Covid-19 crisis, the government has announced it is fast-tracking changes to insolvency laws, to help companies Read more…
Company directors are having a hard time of it recently, in terms of ones who commit wrongful or unlawful trading and become disqualified as a result. Director disqualification In the first quarter of 2016, the highest numbers of directors were disqualified than at any other time in the past 6 Read more…
Like me, you must be wondering why the government has decided to introduce so many changes in the insolvency world all at the same time. In order to try and make sense of things, this is the first of a series of articles on the changes which have come into Read more…
In the recent case of Rowbury –v- Official Receiver (2015) the High Court revoked an Individual Voluntary Arrangement (IVA) because at the creditors meeting called to consider the IVA proposal, there were material irregularities relating to the admittance of creditor proofs of debt and the chairman’s failure to order a Read more…
Normally it is the Companies Court which deals with administration related applications.However in X-Fab Semiconductor Foundries AG v Plessey Semiconductors Limited [2014] EWHC 3190 (QB) (17 July 2014), the High Court has held that, in exceptional circumstances, the Queen’s Bench division can hear an application to permit creditor action against Read more…