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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...

Enforcing Australian judgments in the UK

Tom Serafin
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Australia and the United Kingdom may be thousands of miles apart, but that will not prevent judgments issued by Australian courts from being recognised and enforced by UK courts. Importantly, this means Australian litigants can have their judgments...

Corporate Insolvency and Governance Bill - wrongful trading

Stephen Downie
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The new Corporate Insolvency and Governance Bill enables a company to stay winding-up proceedings and further limits, in certain circumstances, the risk to directors personally that they may one day be accused of wrongful trading. While Rishi Sumak...

Corporate Insolvency and Governance Bill - penalties for abuse

Stephen Downie
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The new provisions provide a lot of opportunity for abuse by companies and their directors. Indeed, where an insolvency practitioner is appointed as a monitor (to satisfy the court’s concern as to such abuse), they may be liable for any wrongs they...

Corporate Insolvency and Governance Bill - monitoring by insolvency practitioners

Stephen Downie
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Where a moratorium, or suspension, of winding-up proceedings is sought by a company, relevant documents must be filed with the court which must support any such request. Included within these documents is the agreement from a ‘Proposed Monitor’...

Corporate Insolvency and Governance Bill subject to exploitation

Stephen Downie
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The Corporate Insolvency and Governance Bill currently progressing through Parliament provides that companies in the United Kingdom (with modifications for Northern Ireland) can now seek to stay winding-up proceedings upon making a request of the court...

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