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HMRC as a secondary preferential creditor: implications for asset based lenders - part 2

Chris Willison
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In our blog posted on 16 September 2019 , we warned that the government was introducing legislation to make HMRC a secondary preferential creditor in insolvency proceedings for certain tax debts paid by employees and customers (“Crown...

Critical steps to safeguarding recruitment business cash flow

Tim Francis
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  In a recent global survey, 77% of businesses said that their hiring plans were impacted by COVID-19. On the surface, not great news for those in the recruitment sector. But it’s not all doom and gloom and there are steps recruitment...

Commercial tenants' rights during COVID-19

Barry McGouran
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The government's  Code of Practice for commercial property relationships during the COVID-19 pandemic  (the "Code") is designed to encourage commercial tenants and landlords to work together to protect viable businesses suffering...

Reverse charge for construction now delayed until 1 March 2021

Chris Willison
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HMRC recently announced that it was delaying the Domestic Reverse Charge for Building and Construction Services until 1 March 2021. The charge, which was due to be introduced on 1 October 2019 but was subsequently postponed until 1 October 2020, is aimed at...

More evidence that the courts will penalise COVID-19 opportunists

Shona  Houghton
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In the recent case of Stanley v London Borough of Tower Hamlets [2020] EWHC 1622 (QB) , the judge, Mr Justice Julian Knowles, determined that it was unreasonable for Stanley’s solicitor to have served their claim by post during lockdown. The...

Corporate Insolvency and Governance Act 2020 - restrictions on the use of winding up petitions

Shona  Houghton
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The Corporate Insolvency and Governance Bill has become an Act having received Royal Assent on 25 June 2020 and comes as a direct result of the COVID-19 emergency. The Act looks to reduce the number of corporate insolvencies stemming from COVID-19 and...

Corporate Insolvency and Governance Bill - moratoriums for struggling companies

Shona  Houghton
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The Corporate Insolvency and Governance Bill currently making its way through parliament will have a significant impact on debt recovery. Here I examine the proposed moratorium for struggling companies to protect them against certain insolvency proceedings...

How best to recover debts in the face of the Corporate Insolvency and Governance Bill

Shona  Houghton
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The implications and restrictions of the Corporate Insolvency and Governance Bill go a long way to protecting debtor companies affected by the COVID-19 emergency. But they will also impact companies and individuals supplying goods and services who may now...

Government guidance on responsible contractual behaviour: key takeaways

Shona  Houghton
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Last month, the government published its non-statutory guidance on responsible behaviour in the performance and enforcement of contracts impacted by the COVID-19 emergency . Here we review the key takeaways from the guidance. What is the purpose of...

Restructure to Recover

Tim Francis
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How do estate agents in financial distress ensure their long term survival? Partner Tim Francis teams up with Ken Touhey, Director of IRL insolvency practitioners, to explain how a financial restructure can often be the best route to...

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