Insolvency practitioners have started rubbing their hands with glee now that the credit crunch has seemingly started to bite. As yet there has not been a dramatic economic downturn in the UK and the global economy – although teetering on the brink – is still holding its own.
Though a fine balancing act has been maintained, many insolvency lawyers will be advising their clients to brace for a deluge of sub-prime fallout. This Insolvency Special Report explores whether the present economic climate will result in the need to batten down the hatches or if the credit crunch hype is a commotion about nothing. It also investigates the relationship between insolvency and fraud, especially in light of the 1986’s Act’s section 236 orders.
In addition, the question is posed as to whether insolvency can ever be the best option following the colossal unrest in the Pension Protection Funds arena.