Insolvency
9.11.23
Corporate insolvencies increase by 10%
As we near the end of 2023, official figures from the Insolvency Service paint a bleak picture in relation to company insolvencies, which have risen by 10% from 2022. The Insolvency Service reported 6,208 registered company insolvencies between July and September compared to 5,635 in the same period in 2022. During the COVID-19 pandemic, businesses…
Read more13.04.23
Charging orders and bankruptcy: is your debt secured?
Charging Orders are a useful enforcement tool where a creditor is able to secure sums due under a judgment or order of the court against the debtor’s interest in a property. A charging order is an equitable charge over the debtor’s property (if they own the entirety of it) or their beneficial interest in jointly…
Read more23.01.23
Limitation in debt claims: the importance in getting the timing right
As a starting point, unless an exception under the Limitation Act 1980 applies, the period in which a party may make a claim for recovery of money (breach of contract) is six years from the date of the breach. With the above in mind, one can assume that the breach does not occur until a…
Read more12.12.22
Service by email to multiple addresses held to be invalid
In R (on the application of Tax Returned Ltd and others) v Commissioners for His Majesty’s Revenue and Customs [2022] EWHC 2515 (Admin), the Administrative Court provided clarification of when service by email is capable of being effective. The case concerned HMRC’s decision to implement a new mandatory tax form for claiming tax relief on…
Read more3.11.22
Brett Wilson LLP ranked in The Times list of the top 250 law firms in England and Wales
Brett Wilson LLP has been listed in the Times Best Law Firms directory. The directory lists the top 250 law firms in England and Wales (out of some 10,000 firms). The firm is commended in the technology, media and telecoms category for its defamation and reputation management work. The firm’s entry can be found here….
Read more20.10.22
Brett Wilson LLP and its lawyers recommended in Chambers and Partners 2023 directory
Brett Wilson LLP’s media and communications law and criminal defence departments have again been recommended by the prestigious Chambers and Partners directory as leading departments in their field. In the firm’s media and communications law department, partners Iain Wilson (noted for ‘his exhaustive knowledge and valuable insight’), Max Campbell (‘first-class acumen and frighteningly accurate ability to…
Read more8.07.22
Bankruptcy and Income Payments Agreements and Orders
During the period between being declared bankrupt to the date of your discharge (usually 12 months, unless a suspension application is made against you), a trustee will try to seek to negotiate an Income Payments Agreement (‘IPA’) with you in circumstances where it appears that you have surplus income over and above the amount needed…
Read more23.03.22
Covid restrictions on corporate insolvency action to end
We have been continuing to monitor the Corporate Insolvency and Governance Act 2020 (the “Act”) closely since it came into effect on 26 June 2020. The Act imposed a number of restrictions on insolvency action, designed to give companies breathing space during the Covid-19 pandemic. Under the Act there was a bar on creditor statutory…
Read more15.02.22
Suspending a bankrupt’s automatic discharge from bankruptcy
What is a discharge from bankruptcy? A discharge from bankruptcy is a statutory process which frees a bankrupt from:- the restrictions and disabilities of bankruptcy; and most of their bankruptcy debts. A bankrupt is usually automatically discharged from bankruptcy on the 12-month anniversary of being made bankrupt. Once discharged from bankruptcy, a debtor generally has no further liability for their bankruptcy debts under section 281 of the Insolvency…
Read more19.11.21
Various Covid-19 restrictions on creditors taking corporate insolvency have ended
We have been monitoring the Corporate Insolvency and Governance Act 2020 (the “Act”) closely since it came into effect on 26 June 2020. Under the Act, as it currently stands, the relevant period of the temporary restrictions and moratorium periods can be extended pursuant to the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of…
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Articles are intended as an introduction to the topic and do not constitute legal advice.
