Want to keep up with all the very latest developments in Restructuring and Insolvency Law so you can manage your legal requirements and avoid potential risk? Then sign up to the Muckle eNews service and our team of helpful experts will make sure you get legal news, advice, helpful hints and tips sent direct to your inbox.
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.