Insolvency
Prepare your business for Brexit, deal or no-deal
Irrespective of who becomes the UK’s next Prime Minister, it’s essential that business owners prepare for Brexit. Cynical business leaders may take advantage if the UK leaves the European Union (EU) without an exit deal on 31 October. It’s likely they will show no loyalty to European suppliers after the leave date. Consequently, don’t be…
Read MoreBlame bad management, not Brexit for insolvencies
Corporate insolvencies are on the rise, but why? Some ‘experts’ have been quick to associate Brexit with the collapse of manufacturer British Steel, fashion retailer Arcadia, and the Jamie Oliver Restaurant Group – but I doubt these collapses have anything to do with our decision to leave the European Union. When business was booming in…
Read MoreNew reforms are great, but who protects unsecured creditors?
In a controversial speech to the Insolvency Practitioner’s Association earlier this year, Court of Appeal judge Lord Justice Jackson (best-known for his 2010 report into civil litigation costs) made several recommendations, which Justice Secretary Michael Gove has already begun to implement. As a result, from 1 April 2016, unsuccessful defendants will no longer be held…
Read MoreDid Sir Philip Green asset-strip BHS and cause its collapse?
Giving evidence to a government inquiry recently, Sir Philip Green claimed to have worked diligently to avoid one of his best-known retail brands going into liquidation. Nevertheless, the Insolvency Service must establish if Sir Philip had asset-stripped BHS and caused its collapse. Last month, fashion tycoon Sir Philip appeared before the Business, Innovation and Skills…
Read MoreInsolvency & Law Shortlisted for “Insolvency and Restructuring Firm of the Year 2016″ award
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…
Read MoreWhy winding up petitions are more efficient than county courts
We recently spoke with a client who for the previous three months had been chasing a customer with an outstanding invoice of just over £50,000. The client was considering litigation in the county court to retrieve the money and I suggested that a quicker and more cost-effective route might be to issue a winding-up petition.…
Read More