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Insolvency

COVID-19: insolvency and winding up petition changes

Kevin Sullivan
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The impact COVID-19 is having on businesses and individuals is enormous and unprecedented. In response, governments across the globe are adapting to mitigate the economic disruption and to enable struggling businesses to weather the storm. On 28 March 2020,...

Compensation Orders against banned directors

Lisa Cox
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In the first case of its kind, a director of a limited company has been ordered to pay compensation of over £500,000 to creditors of that company who suffered loss due to his conduct. Such conduct has already resulted in a disqualification order being...

Personal insolvencies at seven-year high

David Feakins
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The Insolvency Service has reported a staggering 16.2% rise in personal insolvencies in England and Wales since 2017. The total number of personal insolvencies increased to 115,229 during 2018, the highest it has been since 2011. As levels of debt increase,...

Insolvency investigation in sports

David Feakins
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A property developer, who received millions of pounds’ worth of funding from a local council to aid the redevelopment of a football stadium, has been banned from running companies for 10 years. Howard Grossman was a director of 1 ST Land Limited (the...

Patisserie Valerie collapse leaves sour taste

David Feakins
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As high street retailers continue to feel the pressure of falling sales, Patisserie Valerie has become the latest business to enter administration. However, it appears that the collapse is due to other factors, rather than a reduced level of sales. In...

A right to refer a dispute to adjudication at any time?

Perdeep Grewal
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A right to refer a dispute to adjudication at any time? Not if you are in liquidation... The Housing Grants, Construction and Regeneration Act 1996 (Construction Act 1996) gives a party to a construction contract the right to refer a dispute to...

Changes to Termination Clauses

David Feakins
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On 26 August 2018, the Government announced its proposals to make extensive changes to the insolvency legislation currently in force within the UK. These proposed changes form part of the Government’s focus on “delivering a strong business...

Bankruptcy and the Family Courts

Philip Hoddell
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In an anonymised judgement the High Court has upheld the terms of an original agreement between husband and wife in divorce, even when the husband’s intervening bankruptcy has had a significant effect on the outcome of the case. The original divorce...

Fending off corporate insolvency

Kevin Sullivan
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With increasing numbers of companies becoming insolvent, those on the edge financially may well be wondering if there is anything they can do to stop themselves from falling into the abyss. According to statistics from the Insolvency Service, corporate...

The signs and procedures guide for landlords

Daniel Sturman
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With 16,502 companies becoming insolvent in 2016, it comes as no surprise that landlords want clarification on how to protect themselves, their property and what to do if their tenant becomes insolvent. What do I look out for if I have suspicions my tenant...

Banned director earns extended disqualification

Kevin Sullivan
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The case highlights the importance of adhering strictly to a disqualification order or undertaking.  We here at Birkett Long LLP specialise in acting for individuals in such circumstances to ensure they do not fall foul of their ban.  We also...

2016 Legal 500 results are out!

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"A standout name in Essex" quoted by Legal 500 2016 for Birkett Long! This year has been a great success for Birkett Long, 3 of our partners have again been ranked as "Leading Individuals". These are Claire Read, Head of Wills, Trusts...

Solutions to the stress of HMRC tax loophole closure

Kevin Sullivan
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If you are a company director whose business is threatened with insolvency following the Finance Act 2014 becoming law in July – we have some solutions. If you are not sure of your situation let me enlighten you: if you took advantage of an untested...

1,000 jobs feared to be lost in Essex

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Petroplus, the owner of the Coryton oil refinery in Essex, has appointed administrators following its Swiss parent company filing for insolvency proceedings. They employ hundreds in our region and supply around 20% of fuel for London and the South East. ...