The sting in the tail in the Finance Act. Are the walls closing in on key stakeholders? The Finance Act 2020 (“Act”) came into force on 22 July 2020 bringing with it the re-introduction of the Crown Preference (See Changes to…
The Corporate Insolvency and Governance Act 2020 (“CIGA”) introduced a series of temporary and permanent measures to the armoury of rescue and restructuring mechanisms in the wake of the COVID-19 pandemic and the ensuing financial upheaval. Pursuant to the provisions of…
Present Position The Corporate Insolvency and Governance Act 2020 (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020 (SI 2020/1349) (the “Regulations”) came into force on 26 November 2020. The Regulations require courts to disregard any…
As we are nearing the end of the Corporate Insolvency and Governance Bill’s passage through Parliament, it’s time to take a cautionary pause to consider its impact on the supply chain. Attention has been primarily focussed on this Bill within the…
Directors often take difficult decisions. These may be analysed, and often are if their company subsequently fails. With the increase in litigation against directors and the continued reference in the press and elsewhere to directors’ duties, a director may wonder how…
Over recent years I have been astounded that certain professionals, including accountants, insolvency practitioners (IPs) and solicitors, appear unable to recognise a conflict of interest if it were to stand up and slap them in the face. Cynically, one could suggest…
The collapse of the UK’s second largest construction company, Carillion, was not particularly surprising given recent profit warnings and debts believed to be in the region of £1.5 billion. What happened to Carillion It was rumoured over the weekend that in the…
A common concern of suppliers is how to recover goods which a buyer has not paid for. Whilst it can be difficult to predict when such instances will occur, there are several practical steps that a supplier can take in order…
Anil Rajani, Partner, reckons the SFO should take a leaf out of the FCA’s book when it comes to the ‘self reporting’ of wrong-doing within companies. Bribery Act Business leaders are increasingly finding themselves between a rock and a hard place in…
Teresa Graham in her report to The Rt Hon Vince Cable (the “Graham Review into Pre-pack Administration”) has re-opened the debate into the emotive area of pre-pack sales. A review nine months in the making has resulted in Teresa Graham…
