Directors cannot re-write history

Directors of companies need to keep the above statement in mind following the decision in Bass v Buchanan [2021] EWHC 2740 (Ch). Following the company entering into a Creditors’ Voluntary Liquidation in December 2014 the liquidators conducted a review of the books and records of the company and brought proceedings against the director in relation... Read more »

Read more

What happens when your company does not bounce back after receiving the Bounce Back Loan?

In early 2020 when the Coronavirus Pandemic hit the UK the Government brought in a series of measures to help businesses survive. One key measure was the Bounce Back Loan Scheme. The scheme was introduced in March 2020 allowing small and medium businesses to borrow up to 25% of annual turnover, capped at a maximum... Read more »

Read more

Winding Up Petitions – The new provisions

As part of the Government’s loosening of the legislation introduced as a result of the coronavirus pandemic, the temporary provisions put in place to give breathing space to companies from the threat of a winding up petition expire 30 September 2021. These provisions were within the Corporate Insolvency and Governance Act 2020 (“CIGA”) and designed... Read more »

Read more

Business Disputes

Hopefully on a day-to-day business, your business has few – if any – ongoing or threatened disputes.  However they can erupt suddenly and in any area of your business.  But did you know that taking sound legal advice at an early stage can be invaluable?  Not only can it prevent an issue becoming a full-blown... Read more »

Read more

Insolvency continues to be a worry for companies and individuals

The demise of Thomas Cook was a reminder that businesses and individuals are still finding the current economic situation difficult. The latest figures from The Insolvency Service, show that 4,321 companies entered insolvency between April and June 2019, a 2.6% increase on the first quarter of the year and in percentage terms the figure is... Read more »

Read more

The Landlord’s unwanted Christmas gift – Tenant Insolvency

Landlords who are paid quarterly are currently wondering whether 25 December will bring them an unwanted Christmas gift, their tenant’s insolvency. Any business which is in financial trouble will be looking to see if they can afford the next quarter rent payment. They may have already taken advice and been told to hold off liquidation... Read more »

Read more

A landlord’s guide to dealing with an insolvent tenant – Part 2: Where a tenant is an individual

Where a tenant is an individual and it fails to pay the rent due under a lease a landlord may: Exercise commercial rent arrears recovery (CRAR) for the rent against certain goods of the tenant at the premises. Sue for the rent by court action. Forfeit the lease, either by court action or by peaceable... Read more »

Read more