Tag Archives: suppliers

Government proposes legislation to enhance UK insolvency regime

On 26 August, the Government announced that it will be making changes to UK insolvency legislation. The changes are intended to support distressed companies and address issues highlighted by major company failures and include: the ability for all companies to apply for a moratorium a new insolvency process – the “restructuring plan”, enabling companies to cram … Continue Reading

Supermarket wars or sweep?

In a retail world that is ever changing, could the big four supermarket giants become the big three? Sainsbury’s and Yorkshire-based supermarket Asda (the second and third largest supermarkets in the UK) have announced they are at an ‘advanced’ stage in proposed merger talks. The merger could result in approximately 2,800 stores and represent over … Continue Reading

Carillion’s Insolvency – How to Protect Yourself

Following our post on the failure of Carillion yesterday, Ray O’Connor of our Construction team has written the following article “Carillion’s Insolvency – How to Protect Yourself” which looks at practical ways forward for any sub-contractor, employer/developer or funder involved in a project with Carillion. In the event any advice is required on any issues … Continue Reading

The deconstruction of Carillion

On 15 January 2018, Carillion, the UK’s second-largest builder and one of the Government’s largest contractors, was placed into compulsory liquidation and the Official Receiver was appointed as liquidator, with Michael John Andrew Jervis, David James Kelly, David Christian Chubb, Peter Dickens, David Matthew Hammond and Russell Downs of PwC being appointed as special managers … Continue Reading

China’s Steel Industry Fights For Survival

China is one of the largest manufacturers and consumers of iron and steel products.   The steel industry in China has developed over several decades into the biggest in the world. China accounts for nearly 50% of world steel production. It has been driven by rapid modernization of its economy, construction, infrastructure and manufacturing industries. The Chinese steel … Continue Reading

French Insolvency Claims Go Online

Click here to read this article in French. It is now possible for creditors and co-contractors of insolvent companies to take certain steps in French insolvency proceedings and make certain statements “online”. Published in the middle of August, the 2015-1009 decree of 18 August 2015 could easily have gone unnoticed, if it hadn’t been expected … Continue Reading

Water into WIFI – A Modern Definition of “Essential”

On 1 October 2015 the Insolvency (Protection of Essential Supplies) Order 2015 (“PESO”) will come into force. PESO aims to strengthen the statutory protection provided to insolvent companies and insolvency practitioners who need to utilise ‘essential supplies’ to continue to trade. Essential Supplies When a business enters an insolvency process they often need continuity of … Continue Reading

English Football League Toughens Stance On Administrations

Despite the fact that there have been no football club insolvencies in over two seasons, on 5 June 2015 the Football League voted to amend its rules on football insolvencies. The amendments to the existing rules were approved at the recent Football League Conference and will come into force from the start of the 2015-16 … Continue Reading

A Premier Case for VAT Recovery

Tim Jarvis, one of our tax strategy and benefits partners, was interviewed this month by LexisNexis for his analysis of a new and important case on VAT recovery. The outcome of the case is potentially very good news for customers in insolvency situations who have been incorrectly charged VAT. The circumstances of the insolvency situation … Continue Reading

Retention of Title Agreements as Creditor Protection Against Insolvent German Customers – Part 3

This post addresses the question of how retention of title (“ROT”) provisions are effectively agreed to as part of the contractual relationship between a supplier and its German customer under German law. In previous posts, we have introduced the general concept of ROT provisions as a means to protect suppliers when they are creditors in the insolvency … Continue Reading

Creditors’ Rights Improve with Amendments to Russian Bankruptcy Law

Significant improvements have been made to creditors’ rights in Russian bankruptcy proceedings by amendments made on January 29, 2015. The Federal Laws No. 432-FZ “On Amending Certain Legislative Acts of the Russian Federation” and No. 482-FZ “On Amending the Federal Law on Insolvency and Administrative Offences Code” (together, the Amending Laws) came into force in Russia. The … Continue Reading

The Economics of Love in a Global Economy

Yes, it’s that time of year again – plump up the cushions, light the candles, and loosen the purse strings – here comes Valentine’s Day. In 1967 the Beatles professed “All you need is Love”. However despite the extended recession and the continued fragility of the Global Economy, according to the Retail Advertising and Marketing … Continue Reading

The Protection of Essential Supplies Order 2014 – Correcting an Imbalance Between IT Suppliers and Insolvency Customers?

After years of lobbying by Association of Business Recovery Professionals and others, the Enterprise and Regulatory Reform Act 2013 (ERRA) received Royal Assent in April 2013.  Most importantly, the ERRA gives the Secretary of State power to amend s233 of the Insolvency Act of 1986.  Section 233 was originally introduced in 1986 in an attempt … Continue Reading
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