insolvency

Feb

2023

Fraudulent Property Investment Companies Compulsorily Wound Up

Written by Leanne Schneide...

Investment fraudsters, with official-looking websites and promises of lucrative returns, are an ever-present feature of today’s society. A High Court case showed how very important it is to take independent professional advice before parting with...

Dec

2022

Bankruptcy Can Feel Like a Life Sentence for Alleged Uncooperative Debtors

Written by Leanne Schneide...

Bankruptcy is not a life sentence. However, as a High Court case showed, for those suspected of being less than forthcoming about their assets or otherwise failing to cooperate with their trustees in bankruptcy it can sometimes feel like one. The...

Jul

2022

Directors guilty of deceit and unlawful means conspiracy

Written by Leanne Schneide...

The case concerned a businessman who subscribed for £200,000 worth of shares in a company that he saw advertised on a website seeking angel investors. Having previously met with two of the company's directors, he was impressed by their professed...

May

2022

Shareholders' Interests 'Preferred' Over Those of Other Creditors

Written by Leanne Schneide...

When a company becomes insolvent, unsecured creditors have little choice but to wait in line to be paid. However, as a High Court ruling underlined, they are all entitled to be treated equally – and that includes shareholders and directors. The case...

Nov

2021

Company Accounts Cannot Be Retrospectively Adjusted for Convenience

Written by Roy Colaba

A company's accounts cannot be retrospectively adjusted to meet the convenience of its directors. The High Court made that point in ruling that the reclassification of a director's loan account just before a company entered liquidation was of no...

Nov

2021

Carillion Group Insolvency Triggers Guideline Worker Consultation Ruling

Written by Sydney Mitchell

There may be 'special circumstances' that excuse an employer from full compliance with worker consultation requirements before making mass redundancies – but what exactly does that mean? The Employment Appeal Tribunal (EAT) considered that issue in...

Nov

2021

Trouble With the Bank? The Balance of Power is Not All One Way

Written by Leanne Schneide...

Faced with bankruptcy proceedings brought by large financial institutions, individuals may be forgiven for feeling at something of a disadvantage. As a recent case showed, however, judges are not impressed by size and the balance of power in such...

Sep

2021

Changes to restrictions on winding up petitions

Written by Leanne Schneide...

The Government has recently announced that, from 1 October 2021, the restrictions on the use of winding up petitions imposed by Schedule 10 to the Corporate Insolvency and Governance Act 2020 (“CIGA20”) will cease. They will however be replaced by a...

Jul

2021

Misused bounce back loans start to bite back

Written by Leanne Schneide...

Two recent cases, brought against directors of insolvent companies by the Secretary of State for Business, Energy & Industrial Strategy, provide an indication of how seriously the Government and the Courts are taking the misuse of funds provided...

Jul

2021

Letter Box Registered Office Ruled Company's Centre of Main Interests

Written by Leanne Schneide...

Even where a company's registered office is no more than a brass plaque or a letter box, there is a powerful legal presumption that it represents the company's centre of main interests (COMI). The High Court made that point in overturning a winding...

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insolvency

Fraudulent Property Investment Companies Compulsorily Wound Up

Bankruptcy Can Feel Like a Life Sentence for Alleged Uncooperative Debtors

Directors guilty of deceit and unlawful means conspiracy

Shareholders' Interests 'Preferred' Over Those of Other Creditors

Company Accounts Cannot Be Retrospectively Adjusted for Convenience

Carillion Group Insolvency Triggers Guideline Worker Consultation Ruling

Trouble With the Bank? The Balance of Power is Not All One Way

Changes to restrictions on winding up petitions

Misused bounce back loans start to bite back

Letter Box Registered Office Ruled Company's Centre of Main Interests

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