InsolvencyBlog

Pressure increases on time to pay arrangements

01/06/11

Statistics recently issued by HMRC for the Business Payments Support Service (BPSS) since its inception confirm there has been a 45% drop in the number of arrangements approved for the first nine months of 2010 compared to the same period of 2009, whilst the level of rejections has doubled to 5.2% over the same period. A closer inspection reveals a rejection rate of 6.9% for the three months ending September 2010, indicating a significant upward trend over the last few months.

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Unfair Lehman and Nortel pensions decision wrecks the rescue culture

12/12/10

The administrators of 20 Lehman and Nortel companies face meeting Financial Support Directions (FSDs) and Contribution Notices (CNs) from The Pensions Regulator as an expense of the administrations because of the judgment handed down by Mr Justice Briggs.

The implications for the rescue culture are severe - unless the hope expressed by Briggs J

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Unfair Lehman and Nortel pensions decision wrecks the rescue culture

12/12/10

The administrators of 20 Lehman and Nortel companies face meeting Financial Support Directions (FSDs) and Contribution Notices (CNs) from The Pensions Regulator as an expense of the administrations because of the judgment handed down by Mr Justice Briggs. The implications...

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Foreign insolvency judgment enforcement - a fiction?

12/08/10

Rubin & Lan v Eurofinance led us to say in August 2010 that the Court of Appeal had taken a novel approach founded on the principles of modified universalism, developing the common law and allowing enforcement of a foreign insolvency judgement when an ordinary foreign judgement could not have been enforced.

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Foreign insolvency judgment enforcement - a fiction?

12/08/10

Rubin & Lan v Eurofinance led us to say in August 2010 that the Court of Appeal had taken a novel approach founded on the principles of modified universalism, developing the common law and allowing enforcement of a foreign insolvency...

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Rok redundancies announced by administrators

11/16/10

1,800 redundancies have been announced today by the administrators of Rok plc and Rok Building Ltd. The redundancies are in the maintenance and improvements division throughout the UK and also in the construction business in Scotland. On top of the...

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Beware extending supplier credit terms

11/11/10

Rok , the building and social housing repairs company was placed into Administration on 8 November, just 10 weeks after Connaught suffered the same demise.

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Mercer & Hole - London partner Chris Laughton to lead INSOL Europe

10/16/10

Fellow partner at Mercer & Hole, Chris Laughton, has been appointed President of INSOL Europe, the pan-European members organisation for insolvency professionals.

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Business risk from public spending cuts

09/12/10

Connaught PLC's administration illustrated the risk to private sector business of public spending cuts (Connaught collapse blamed on government spending cuts). That risk is further highlighted in research, statistics and commentary from such diverse sources as R3 (The Association of...

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Connaught collapse blamed on government spending cuts

09/07/10

The impending administration of the FTSE 250 social housing company, Connaught PLC, is widely reported today. This tangible illustration of the effect government spending cuts can have on industry poses questions about the future of the UK economy. There will...

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