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As the economy remains in a rocky state, many businesses continue to suffer cash flow and insolvency issues. But suppliers need to continue to trade. So what should they do? At times such as these, a good...
If you go down to the Court today: filing of Notices of Intention to Appoint Administrators
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...
TUPE and pre-pack administrations: EAT admits it got it wrong…
The long-awaited EAT decision in OTG Ltd v Barke and ors and four other cases has finally been handed down.
The EAT heard five appeals that all looked at the same point: does administration under Schedule...
Insolvency statistics in Q4 2010 published today by the Insolvency Service
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...
Charging orders
A creditor obtained a charging order over a property based on a judgment in which a company had been ordered to pay £11,500 in costs. In addition, the company had been ordered to pay into court the sum...
Automatic termination of indemnity upon insolvency event breaches anti-deprivation rule – Mayhew v King, High Court
T agreed to indemnify M in a contract in relation to some particular litigation that may be brought against M. The agreement said that the indemnity would automatically end if M suffered any insolvency...
Changes to Insolvency Legislation
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...
Administration (COMI and form of appointment): In the matter of Kaupthing Capital Partners II Master LP INC (2010)
This new case (Ch D (Proudman J) 31.3.2010) concerns a limited partnership whose registered office is in Guernsey. The Court was asked to decide two issues: (1) the location of the partnership's centre...
Practical Update on Extending Period of Administration
Since the implementation of the Enterprise Act 2002 the administration of a company will only last for 12 months. The administrators can apply once to certain creditors of the company for a 6 month extension....
Administrators beware (but good news for landlords)
In Goldacre (Offices) Ltd v Nortel Networks UK Ltd (in administration) [2010] All ER (D) 54 (Jan), the respondent company held two long leases over properties of which the claimant was the landlord. During...