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Company directors, insolvency and moratoriums

Under the provisions of the Corporate Insolvency and Governance Act 2020, struggling companies can be placed into a new statutory insolvency procedure. But what are the pros and cons of the moratorium? The moratorium provides up to 40 business days of protection from creditors. This should be ample time to secure additional investment and remodel…

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Creditors and fans of Bury FC learned a harsh lesson about Company Voluntary Arrangements (CVAs) last month when the team became the first to drop out of the English Football League (EFL) in 27 years. The club’s supporters, including local MP James Frith, are calling for an inquiry into the CVA arranged in July 2019…

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The future looks bleak for British landlords, especially those renting in town centres and cities because everyone knows our high streets are changing. Fashion retailer Primark recently claimed to be seeking rent reductions of up to 30% in negotiations over new leases. The Irish retailer is considering entering a Company Voluntary Arrangement (CVA) to help…

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Office Holdings, owner of Office and Offspring shoe shops, is said to be the latest high-profile retailer to consider entering a company voluntary arrangement (CVA) – so what’s a CVA, and why are they so popular? In recent weeks, clothing and accessories merchant Monsoon Accessorize, and the Arcadia Group – home to brands such as…

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Creditors of a business that has recently entered a company voluntary arrangement (CVA) would be wise to follow the example set last month by the creditors of waning fashion retailer Arcadia. Arcadia’s creditors did well to encourage Sir Philip Green and his wife to part with more money than they’d intended. Simply by standing up…

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Insolvency and Restructuring Firm of the Year

London-based magazine Finance Monthly, which is distributed to more than 100,000 readers across the globe, recently shortlisted Insolvency & Law (I&L) in the category of British ‘Insolvency and Restructuring firm of the year, as part of the  eighth annual Finance Monthly Global Awards. To celebrate the nomination, below, I&L director Peter Murray shares his thoughts…

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