Winding Up Petitions
Northumberland Living Loan Notes: B Share Proposal
Northumberland Living loan note investors have received an update from William Jackson about a proposed restructure of the business and loan notes. The update also mentioned a possible conversion into preferential B shares. According to the update, senior funding has been selected and is available. However, funding appears to depend on loan note holders supporting…
Read MoreAlderley Loan Notes: New Documents Raise Serious Questions
In our previous post, we covered concerns about Alderley Group loan notes. These included repayment delays, redemption extensions, winding-up petitions, and investor uncertainty. We have now reviewed further investor documents. These include materials from unregulated introducers New Capital Link and Oakmount & Partners. Read our material on New Capital Link here. Interestingly, Oakmount & Partners…
Read MoreInvestors Concerned over Alderley Group Loan Notes
Alderley Group (2019) Limited, a company that raised millions through loan notes linked to affordable housing developments, is facing growing investor concern following delayed repayments and the filing of winding-up petitions. Alderley Group loan notes were marketed as fixed-return debt products linked to affordable housing developments in northwest England. Investors are now seeking clarity regarding…
Read MoreHow to obtain winding-up orders and petitions in 2022
Following the lifting of the Government’s CIGA 2020 restrictions last month, creditors are once again free to present winding-up petitions to insolvent companies that owe £750 or more. Subsequently, we thought you’d like some tips and advice on how best to utilise winding-up orders and petitions in 2022. You should move swiftly against any company…
Read MoreInsolvency and debt recovery specialists
Last month, the Government lifted the insolvency restrictions introduced to combat the Covid-19 pandemic. In particular, the repeal of Section 10 of the Corporate Insolvency and Governance Act 2020 (CIGA) should please creditors. Creditors were still able to obtain winding-up orders. However, Section 10 of the act compelled them to: Only pursue debts of £10,000…
Read MoreEnd of temporary insolvency measures
Last week, the Government withdrew the temporary insolvency measures introduced two years earlier to support businesses during the Covid-19 pandemic. Creditors could obtain winding-up petitions under the temporary legislation (enacted as part of the Corporate Insolvency and Governance Act 2020). However, the debt threshold for winding-up petitions increased to £10,000 and creditors were compelled to:…
Read More