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Briefing Notes

TUPE application and insolvency

Anyone who has acquired a business as a going concern will be aware of The Transfer of Undertakings (Protection of Employment) Regulations 2006 (“TUPE”) and its far reaching application. TUPE legislation exists for good reason: to ensure automatic transfer of employment for employees when the business for which they are working is transferred. You cannot […]

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Helping Creditors to Realise Bankrupt’s Share Of A Jointly Owned Home

In times of economic uncertainty it is a sad reality that the numbers of individual bankruptcies tend to increase, often dramatically. It is therefore important for trustees in bankruptcy and other insolvency practitioners, lenders and other secured and unsecured creditors to know what their options are in relation to realising any assets to recover sums […]

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Insolvency in the Construction Industry: Spotting the early warning signs of a distressed site or project

The latest figures from the Insolvency Service report that insolvencies in the construction industry increased by around 8% last year.  These figures, together with reports on the recent collapse of Carillion, have brought the issue of insolvency in the construction industry back into the media spotlight.  Carillion’s collapse has attracted much criticism in the media.  […]

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Company voluntary arrangements and challenges by creditors

The Insolvency Service statistics for July to September 2016 show that the estimated number of Company Voluntary Arrangements (“CVA”) in the third quarter of this year fell by 31.8% compared to the same quarter in the previous year. It might be suggested that CVAs are losing popularity; however, the latest figures should be approached with […]

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Dispute resolution provisions – the impact of Brexit

In an article that first appeared in The In-House Lawyer Magazine, Druces lawyers Charles Spragge, Victoria Novikova and Max Palmer consider the primary European regulations relevant to dispute resolution agreements and what the position may be post-Brexit. Of all the clauses in a contract, dispute resolution provisions require perhaps the greatest degree of crystal ball gazing. […]

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Another reason to lie awake at night

Being a boss of an SME has been likened to a plate juggler having to be constantly alert to what is happening in all parts of the business and ready to take swift action to avoid smashing the company crockery. Managing the business in the ordinary course and dealing with matters as they arise (to quote a former Secretary of State ‘the known […]

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Insolvency litigation exemption will come to an end by April 2016

The Government has announced that the insolvency litigation exemption will come to an end next year. At present, proceedings brought by liquidators, administrators and trustees in bankruptcy to recover assets of the insolvent estate are excluded from the effect of sections 44 and 46 of the Legal Aid Sentencing and Punishment of Offenders Act 2012 […]

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The Court Of Appeal Lifts Stay On Liquidator’s Claim In Saad Group Insolvency

In an article first published in the April edition of the The In-House Lawyer, Julian Johnstone considers the law applicable to cross-border trusts in the context of the winding up of the Saad Group, substantial Middle-Eastern investment vehicle. The case is of general application to cross-border trusts and the validity of trusts in insolvency situations.

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UK Schemes Of Arrangement Used For Restructuring Overseas Groups

The vogue for overseas groups to use UK schemes of arrangement continues and the latest to do so is the pan European car park operator, Apcoa. The reason is that the scheme of arrangement procedure allows a restructuring to take place which could not be achieved under the laws of the states where the companies […]

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