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According to Taylor Wessing’s Amy Patterson, the key question that remains is whether the change in COMI is one of substance or mere illusion.
Where administrators use leasehold premises for the benefit of the administration, they should pay the rent attributable to that period as an expense of the administration.
Some of the UK’s largest landlords have overturned previous High Court cases that had allowed insolvent tenants to continue trading from their premises without paying rent.
The DWP has provided long-awaited confirmation of the approach that will be taken to scheme benefits that are reclassified from money purchase to defined benefit in April 2014.
The Insolvency Service’s most recent quarterly statistics show a 12 per cent rise in construction company compulsory liquidations.
Where a counterparty was entitled to specific performance of a contract with a company prior to its entry into administration, the counterparty should still be entitled to specific performance.
The Pension Protection Fund has recently published an explanatory statement entitled ‘Restructuring and insolvency: the PPF approach’.
A winding-up petition is not appropriate for a debt that is disputed on substantial and bona fide grounds.
Proceedings determining a creditor’s entitlement to prove a liquidation did fall within the ‘insolvency exception’ to the Lugano Convention.
Where different, equally ranking unsecured noteholders had no realistic prospect of obtaining any return on the alternative scenario of an insolvency, they could vote as a single class.
Taylor Wessing asked lawyers across its restructuring and corporate recovery team to describe how things might develop in this market during 2014.
While most will eagerly anticipate the gifts the festive season will bring, this time of year can be treacherous for tenants and landlords alike.
A summary of some of the transactions the RCR lawyers of Taylor Wessing have been involved in.
This short article surveys some key news from Pierre Tallot who heads up the Taylor Wessing RCR practice in France.
The Bermuda Court of Appeal has held that statements in relation to assistance at common law to foreign officeholders made in an earlier Privy Council decision were not binding on it.
This is an important decision that is helpful to administrators wishing to cut costs to avoid closure of a business pending its sale as a going concern.
Directors cede management powers on the appointment of administrators; however, the ability to cause the company to challenge the validity of appointment is an example of an exception to this rule.
The judge’s comments call into question the impact of limited recourse provisions and bankruptcy remoteness.
This is the fourth of four articles summarising the general duties and potential liabilities of a director of an English private company (which is not in a group with a PLC).
The Deputy Pensions Ombudsman held that an insolvent employer should pay certain outstanding pension contributions, plus interest.