InsolvencyBlog

Chris Laughton, President of INSOL Europe, today launched the European Insolvency Regulation Case Register at www.insolvencycases.eu.

My final job as President of INSOL Europe is to host this year's conference in Venice. The last few days of preparations have been busy, but have brought home just how much has gone on. I can't pre-empt conference announcements, but to touch on some highlights:

Insolvency Lawyers' Association's Response to the draft Insolvency (Amendment) (No.2) Rules 2011 I thoroughly endorse the Insolvency Lawyers' Association's response to the Government's proposed amendments to the law on pre-pack insolvencies, which is accessible at http://www.ilauk.com/news/insolvency_and_restructuring_news/ and is reproduced below....

With continuing demand for its quality gravure printed products, the insolvency of the UK branch of a European network gives rise to an investment opportunity. With orders still to fulfil, cessation of trade was due to a lack of funds to buy consumables – not due the lack of orders.

Our TV channels are full of DIY programmes and people across the UK and Europe are getting more and more adventurous about making their house a home. Combined with the decline in new house sales, the renovation and redecorating market is burgeoning.

HMRC’s latest comment concerning ‘Time to Pay’ (TTP) arrangements has stated that TTP will not be available where companies are paying out dividends to their shareholders. It is HMRC’s opinion that the cash should be used to pay tax before paying dividends the company can not afford!