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Charging orders and competing creditors

18 October 2011 | Karen Jacobs Comments Off

This case considered whether to decline to make an interim charging order final if the effect would be to give one creditor priority in enforcing its judgment against other defendants. Unusually there...

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If you go down to the Court today: filing of Notices of Intention to Appoint Administrators

22 March 2011 | Carolyn Jones

Those familiar with the routine of filing NOIs and subsequent Notices of Appointment may be in for a big surprise next time they go to Court. The current Court practice (a very recent development) is...

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Insolvency statistics in Q4 2010 published today by the Insolvency Service

4 February 2011 | Mark Tempest

Insolvency statistics in the fourth quarter of 2010 were published today by the Insolvency Service. Corporate insolvencies across the board were down on the same period last year: compulsory liquidations...

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Guarantee your guarantee will stand up to scrutiny !

19 January 2011 | Mark Archer

A recent High Court decision has yet again highlighted the need for parties to draft personal guarantees accurately and in a form that is entirely appropriate for the underlying transaction. A guarantee...

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VAT on professional fees for company in financial difficulties

23 November 2010 | Shimon Shaw

A recent VAT decision of the Upper Tribunal will be of interest to companies in financial difficulty and their advisers. HMRC v Airtours Holiday Transport Ltd [2010] UKUT 404 (TCC) A large holiday...

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Case rules in favour of lender (again)

31 August 2010 | Steven Mills Comments Off

His Honour Judge Waksman has delivered another judgment in favour of lenders.  The claims all related to the interest rates stipulated on a regulated agreement relating to credit cards.  The central...

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OFT proposes greater powers for landlords in insolvencies

2 August 2010 | Laura Seaman

The Office of Fair Trading (OFT) has published a report recommending far-reaching reforms of the corporate insolvency regulatory regime. In the report, the OFT said that landlords, as unsecured creditors,...

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Personal insolvencies hit new high… but corporate liquidations fall

14 May 2010 | Christina Fitzgerald

According to new Insolvency Service figures, the number of people in England and Wales becoming insolvent rose to a new high in the first three months of 2010. A total of 35,682 people became insolvent...

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EU Solvency II rules delayed

14 May 2010 | Christina Fitzgerald

The EU commissioner for financial services has announced that the introduction of the Solvency II framework will be delayed by two months. Solvency II, which is the new solvency regime for all EU insurers...

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Changes to Insolvency Legislation

6 April 2010 | Mark Tempest

Important changes to the conduct of insolvency proceedings come into force today, introduced by The Insolvency (Amendment) Rules 2010 and Legislative Reform (Insolvency) (Miscellaneous) Provisions Order...

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