Bankruptcy Blogs

The UK insolvency regime began preparing for the 21st century with the Cork Report in 1982. That led directly to the Insolvency Act 1986, introducing the rescue mechanisms of administration and voluntary arrangements. Major refinements followed with the Enterprise Act 2002, enhancing the new mechanisms and facilitating the constructive use of insolvency procedures.

Since then, however, it has not been entirely plain sailing:

Deus Ex Macchiato has some fun with the Rumsfeld quote about "known knowns" and "unknown unknows," proposing that there is yet another variation: "the things that we are too lazy to know."

The largest institutions face feeble economic growth, a moribund housing market, chronically high unemployment, regulatory uncertainty and low rates as far as the eye can see. How will they make money?

To absorb a large warehouse operation would require purchasing the whole bank, not just the warehouse business.

The automatic stay protects consumers who file for bankruptcy One of the greatest advantages available to the debtor who is willing to consider bankruptcy as an option is the automatic stay.  The automatic stay orders creditors to refrain from collection practices immediately once a debtor has filed for bankruptcy.  But we all know that rules [...]