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Liquidation

New reforms are great, but who protects unsecured creditors?

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…

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Did Sir Philip Green asset-strip BHS and cause its collapse?

Sir Philip Green BHS

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…

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Insolvency & Law Shortlisted for “Insolvency and Restructuring Firm of the Year 2016″ award

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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How to ensure your winding up petition is not dismissed or withdrawn

Ensure your winding up petition is not dismissed

Some time ago, we presented a winding up petition to a company that owed one of our clients £50k. Upon receipt, the respondent company threatened to apply for a court injunction to restrain us from proceeding and dismiss the petition on the grounds the debt was disputed. The respondent company falsely alleged that £49k of…

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Dodgy Football Fat Cats like Peter Ridsdale Must Be Punished

Banned Director Peter Risdale

Last month, the Insolvency Service banned football club chairman Peter Ridsdale (pictured) from holding company directorships for seven-and-a-half years. Under Ridsdale’s chairmanship, Cardiff City football club accrued debts exceeding £42m between 2006 and 2010. During the same period, Ridsdale secretly and unlawfully transferred more than £345,000 from Cardiff City into his personal bank account, and…

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