News & Analysis as of

Insolvency Wrongful Trading

Hogan Lovells

To trade or not to trade? Record fines for BHS directors shed new light on decisions in the twilight zone

Hogan Lovells on

When a company is in financial distress, its directors will face difficult choices. Should they trade on to trade out of the company's financial difficulties or should they file for insolvency? If they delay filing and the...more

Jones Day

BHS Liquidators Win Record Wrongful Trading Judgment—and Establish New "Misfeasance Trading" Law

Jones Day on

FRP Advisory Trading Limited won the United Kingdom's largest-ever wrongful trading claim and successfully established the first "misfeasance trading" claim against former directors of British Home Stores ("BHS"),...more

Hogan Lovells

Second Suspension of liability for Wrongful Trading

Hogan Lovells on

On 26 November 2020, the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020 (the “Regulations”) came into force....more

A&O Shearman

Does the suspension of 'wrongful' trading really matter? Does it actually help?

A&O Shearman on

The Government took some of the sting out of the Insolvency Act’s wrongful trading provisions from 1 March to 30 September 2020 with their ‘suspension’ of the law. It was not truly a suspension as wrongful trading...more

Goodwin

Potential Personal Liability Of UK Directors For Company Debts

Goodwin on

This bulletin is of particular interest to our clients and contacts who are directors of UK companies which face liquidity issues. Directors (including shadow directors) can be liable for the debts of their companies when...more

Dechert LLP

UK Life Sciences and Healthcare Newsletter - September 2020: Changes to Insolvency Rules Provide Breathing Space

Dechert LLP on

The UK Government has long been considering significant reforms of the UK’s insolvency framework, even before the advent of COVID-19. The pandemic resulted in the acceleration of those reforms and the passing of the new...more

Goodwin

UK Corporate Insolvency and Governance Act 2020 Brings Significant Changes to Law

Goodwin on

The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. Many of the provisions of the act are based on the bill which was initially proposed pre-COVID-19, with a framework having been set out...more

White & Case LLP

Singapore’s omnibus insolvency legislation

White & Case LLP on

The Insolvency, Restructuring and Dissolution Act 2018 (the "IRDA") came into force on 30 July 2020. The consolidation of all personal and corporate insolvency and debt restructuring legislation into a single statute, along...more

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