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Article 15/02/2021
Understandably there has been much focus of late on how Brexit impacts upon European and UK cross-border insolvencies going forward, some of which has been touched upon in our previous article. Here, we consider how insolvency officers in the USA can seek insolvency assistance in the UK and whether this may differ from the approach to be taken by insolvency office holders in Europe.
Article 16/12/2020
A summary of recent developments, including a brief overview of supply chain management issues in light of the government consultation into transparency in supply chains response, the rise in personal guarantees being called upon in the current economic climate, the impact of the current introduction of joint liability notices by the HMRC on directors and shareholders and the recent judicial review decision impacting the changes to the Use Classes Order and permitted development rights.
Article 16/12/2020
The transition period is shortly coming to a close. Deal or No Deal, we consider whether the Insolvency (Amendment) (EU Exit) Regulations 2019 as amended can fully replace the EU Insolvency Regulation and the Recast Insolvency Regulation.
Article 16/12/2020
Personal guarantees can be crucial for businesses, allowing them to expand and improve cash flow where they otherwise would not be able to. Guarantors are often aware of the risks attached to the provision of such a guarantee. However, in some cases clauses can be misleading, making it unclear what is required under the contract and/or guarantee.
News 27/11/2020
Kennedys is celebrating 20 years in Hong Kong, and is also moving to new offices.
Case review 30/10/2020
In one of the most significant decisions dealing with the interplay between insolvency and adjudication since the Supreme Court judgment in Bresco Electrical Services Limited v Michael J Lonsdale (Electrical) Limited [17.06.20], the Technology and Construction Court considered John Doyle Construction Limited’s application for summary judgment to enforce an adjudicator’s decision.
Case review 29/10/2020
In VB Leaseco Pty Ltd (Administrators Appointed) v Wells Fargo Trust Company, National Association (trustee) [2020] FCAFC 168, the Full Federal Court of Australia has overturned a first instance decision requiring Virgin’s Administrations to redeliver leased aircraft engines to Florida.
Article 28/10/2020
Tucked away at Section 100 and Schedule 13 of the Finance Act 2020 (FA 2020) are some significant and wide ranging provisions that relate to circumstances in which directors (and others) can find themselves held personally liable for their company’s tax debts within an insolvency context. The provisions apply to LLPs as well as companies. This article considers the circumstances pursuant to which such liability can arise for those involved in company management with reference to the issue of repeated company insolvency.
Article 08/07/2020
This update includes a round-up of recent court decisions dealing with design obligations in supply contracts and a number of issues relevant to adjudication, including: insolvency, Part 8 declarations, the correction principle and the interplay between “true value” and “smash and grab”.
Case review 08/07/2020
On 17 June 2020, the Supreme Court handed down judgment in the case of Bresco Electrical Services Limited v Michael J Lonsdale (Electrical) Limited reversing the Court of Appeal’s decision and holding that the two regimes of insolvency and adjudication are compatible.
