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The Spring Statement 2023 – Budget for Growth?
Chancellor, Jeremy Hunt, delivered this year’s Spring Budget after a cloud of disruptive events culminating in the collapse of the Silicon Valley Bank.
Supreme Court confirms directors’ extended duty to protect creditors
On 5 October 2022, the UK Supreme Court confirmed that directors sometimes owe an extended duty to uphold the interests of a company’s creditors when solvency is in doubt.
Cost of living crisis
In July 2022, the annual rate of UK inflation (10.1%) was the highest it has been since 1982, affecting the affordability of goods and services. The high rates of inflation are predominantly due to supply chain disruptions and consumer demand, and the substantial increases in energy prices.
Record promotion round at Kennedys as new legal director role introduced
We are pleased to announce we have promoted 86 associates to senior associate and introduced a new legal director role, with 44 legal directors and 2 special counsel also promoted.
Case review 15/04/2020
Carluccio’s – application of COVID-19 furlough scheme to company in administration
On 13 April 2020, Mr Justice Snowden released his judgment in the matter of Carluccio’s Limited (in administration) and handed down declarations and directions to the joint administrators of the company. The directions set out the legal basis upon which the joint administrators could place a large number of the company’s employees on furlough, pursuant to the government’s Coronavirus Job Retention Scheme.
COVID-19 and your duties as a director
The government has announced unprecedented measures to assist certain businesses through the inevitable difficulties they will face as a consequence of measures being adopted to slow the rate of infection amongst the population of COVID-19.
Failures of insurance brokers: selling the book of business
We review the regulatory issues that can arise on the insolvency of an insurance broker and consider how to avoid the pitfalls when selling its major asset, the book of business.