Finance and Funding Forum

The Muckle LLP Banking team has setup their own ‘Finance and Funding Forum’ on LinkedIn. For more information and to keep updated please join here.

Insolvency Service consults on insolvency reform

The Insolvency Service has produced a consultation paper on the UK corporate insolvency framework and has proposed certain reforms.

Bankruptcy – Property available for distribution

High Court considers remedies available for void dispositions.

Third Parties (Rights Against Insurers) Act 2010 to come into force

On 1 August 2016 the Third Parties (Rights Against Insurers) Act 2010 (Act) will come into force.

New case law: Setting aside transactions made in ancillary relief proceedings

This case confirms that a trustee in bankruptcy, who is applying to set aside an ancillary relief settlement entered into prior to bankruptcy, will find this challenging.

New: Directors conduct reporting requirements

The conduct of directors of insolvent companies reporting period has been reduced from six to three months from the date when the insolvency starts.

Changes to Debtor’s bankruptcy applications

From 6 April 2016, debtors will no longer be able to petition the court for bankruptcy.

High Court rules that claims for financial orders on divorce do not vest in trustee in bankruptcy

This case specifically considers a trustee in bankruptcy’s ability to pursue financial orders on divorce.

Do you need to involve a liquidation committee before pursuing a claim?

This case provides a clear and concise reminder of the principles to be adopted by liquidators in exercising their decision making powers where no sanction is required.

The City Link case – BIS v Smith, Petro and Wright

The City Link case is a reminder that timing is essential when proposing collective redundancies.