20 results
14 Oct 2020 08:56
Furlough and administration: when is a contract of employment ‘adopted’?This article first appeared in the Autumn 2020 Edition of RECOVERY magazine and is reproduced with the permission of R3 and GTI Media. By Lisa Linklater and Harriet Hartshorn The Coronavirus Job Retention Scheme (the scheme) has been ground breaking for employers, employees and administrators of more...
17 Apr 2020 10:39
Carluccio’s Limited (in administration): Administration and furlough arrangements with employeesBy Lisa Linklater and Harriet Hartshorn Snowden J gives urgently sought directions to administrators in respect of furlough arrangements with employees following a remote video hearing in the matter of Carluccio’s Limited (in administration) [2020] EWHC 886 (Ch). Introduction The current global more...
A Guide to Directors Disqualification Proceedings in England and Wales
Company Directors are at risk of being disqualified under the Company Directors Disqualification Act 1986 from holding office following investigations which may take place if their company becomes insolvent or there is other alleged wrongdoing. This short guide is intended to help company directors more...
1 Aug 2019 09:27
Charity Commission’s first petition to wind up a charity (Re Thrift Urban Housing Limited)Restructuring & Insolvency analysis: The Charity Commission was successful in its petition to wind up a charity under the Insolvency Act 1986 on the ground that it was just and equitable to do so. This was the first time that the Charity Commission has exercised its power under section 113 of the more...
LEHMAN BROS INTERPRETATION OF THE PRINCIPLE IN RE CONDON, EX PARTE JAMES
Lehman Brothers Australia Ltd (in liquidation) v Lomas & Ors, the Joint Administrators of Lehman Brothers International (Europe) (in administration)[2018] EWHC 2783 (Ch) (Hildyard J, 24.10.18) The facts In simple terms, Lehman Brothers Australia Ltd (in liquidation) (“LBA”) claimed in the English more...
17 Jul 2019 15:43
Creative remedies in unfair prejudice petitionsJust as there is an infinite variety of ways in which majority shareholders in a company can mistreat a minority shareholder, the court also has creativity at its disposal when determining the appropriate remedy. It is tempting to dismiss share valuation as the province of expert valuers. However, more...
17 Jul 2019 15:34
Where does the law stand now on discounts for minority holdings in non quasi-partnership companies?Introduction There has been little in the area of unfair prejudice petitions that has caused more controversy in recent years than whether successful petitioners, having established unfair prejudice against the wrongdoers, should see the price paid for their shares reduced, possibly almost to more...
17 Jul 2019 15:30
Share Valuation in Shareholder DisputesOverview When it comes to key issues in unfair prejudice petitions, there is little which is more important to petitioners and respondents alike than whether a buy out order is likely to be made by the court, and if so what price will be ordered to be paid for the shares. The issue of valuation, more...
14 Feb 2019 13:56
The primacy of insolvency law over construction lawWith the Court of Appeal’s decision in Bresco Electrical Services Ltd v Michael J Lonsdale (Electrical) Ltd just a few weeks old, it is hardly surprising that people are looking again at the relationship between insolvency law and adjudication, noting that in cases of liquidation where parties have more...
7 Feb 2019 15:05
Shutting Pandora’s BoxInsolvency Set-Off and Construction Contract Adjudications in light of Bresco Electrical Services Ltd (in liquidation) v Michael J Lonsdale (electrical) Ltd; Cannon Corporate Ltd v Primus Build Ltd [2019] EWCA Civ 27 Ever since 31 July 2018, when Fraser J handed down his judgment in Michael J more...
6 Feb 2019 12:32
Bresco Electrical Services Ltd (in liquidation) v Michael J Lonsdale (Electrical) Ltd [2019] EWCA Civ 27This case concerned both the appeal in Bresco v Lonsdale and Cannon Corporate v Primus Build. The present case comment is only concerned with the former. Background Bresco appealed to set aside the order of an injunction from Fraser J. That injunction prevented the continuation of an adjudication in more...
18 Jan 2019 15:23
Receivables Finance: the prohibition on assignment is now in forceThe Business Contract Terms (Assignment of Receivables) Regulations 2018 came into force on 31 December 2018 meaning that parties to a contract in the UK may no longer be able to prohibit the assignment of receivables arising in respect of supplies made under it, even if it is a long term supply more...
3 Dec 2018 16:49
Success in the Court of Appeal for Lawrence McDonaldLawrence McDonald from Exchange Chambers has appeared in the Court of Appeal for the successful appellant in the case of Global Corporate v Hale. The case is important for two main reasons. First, because it clarifies the circumstances in which liquidators of a company can recover from directors of more...
1 Nov 2018 16:52
Hardwicke celebrates yet more excellent results in Chambers UK Bar Directory 2019Hardwicke is celebrating excellent results in the newly released Chambers UK Bar Directory 2019 with new recommendations in Commercial Dispute Resolution, Restructuring & Insolvency and Real Estate Litigation. Several members also moved up a band in the areas they were recommended. Hardwicke more...
18 Oct 2018 08:45
Legal Cheek interview with Simon KerryIn his recent interview with Legal Cheek, Simon Kerry talks about life as a junior barrister at Hardwicke. Simon spent four years as a tax associate at accountancy giant PwC before joining Hardwicke as a pupil. A “love for advocacy” prompted his career switch, he says, adding: “I like the excitement more...
17 Jul 2018 17:19
Help – the borrower has gone bust! How does that affect us?Introduction: the Basics 1. This article seeks to provide some answers you could give if a lender client comes to you and explains that one of its corporate borrowers has entered administration or liquidation, and asks you how that will affect the lender. 2. Anyone who secretly feels a little more...
Cross-Border Insolvency Regulations Unlikely to Provide Safety Net for Recognition of Foreign Proceedings Following Brexit; Rule in Gibbs to Be Challenged
The application of the Cross Border Insolvency Regulations 2006 (CBIR), which contain the UNCITRAL Model Law, in English courts has been central to two major overseas restructurings in the past few months. In the restructurings of both Agrokor dd and the International Bank of Azerbaijan, foreign more...
Great Repeal Bill, UK Still Has to Negotiate For Judgments, Proceedings Recognition Under Brussels and EU Insolvency Regulations
The first draft of the anticipated “Great Repeal Bill” was published in July 2017 by the U.K. government. The bill sets out that from the outset of Brexit, the vast majority of existing EU law adopted by the U.K. will be incorporated into domestic legislation. This means that EU legislation, which more...
29 Jan 2018 14:53
INSOLVENCY AND RESTRUCTURING - LIFE AFTER BREXITRaquel Agnello QC sets out why this issue merits a proactive approach in the Brexit negotiations. Insolvency has undergone a real cross border transformation in the last 20 years. A recent letter dated 31st October 2017 from the City of London Solicitors Law Society to the Government stated, that in more...
Challenge to pre-pack defeated - Re Meem SL Limited (In Administration) [2017] EWHC 2688 (Ch)
Summary Where complaint is made about a pre-pack administration, more often than not it is the trade creditors who claim to have been left high and dry by the pre-arranged sale of the company’s business to the former management. The case of Re Meem SL Ltd (In Administration) [2017] EWHC 2688 (Ch) more...
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