UK Corporate Insolvency and Governance Bill: General meetings and restructuring
UK Corporate Insolvency and Governance Bill: General meetings and corporate restructuring A new bill, placed before Parliament on 20 May 2020, has been designed to offer protection to businesses and support the UK economy. The Corporate Insolvency and Governance Bill will allow companies in difficulty to benefit from a range of steps to try and help them survive the Covid-19 crisis and rescue their businesses where possible. The combination of temporary and permanent measures aims to protect ‘otherwise viable
UK Government publishes new guidance on contractual behaviour during the Covid-19 pandemic
UK Government publishes new guidance for contractual behaviour during the Covid-19 pandemic In May 2020, the Government issued guidance on responsible contractual behaviour in dealing with the performance and enforcement of contracts impacted by the Covid-19 emergency. The document is not legally binding, however, parties are strongly encouraged to follow its guidance for not only their own benefit but for the long-term benefit of the UK economy. The purpose of the guidance The Government makes the point that everyone
The contractual implications of Coronavirus: Can it be a force majeure event?
The contractual implications of Coronavirus: Can it be a force majeure event? As governments scramble to contain the coronavirus and the World Health Organisation labels as a global pandemic, businesses are facing the fact that contracts they have entered into in good faith may not now be performed. With some areas in quarantine, travel restrictions being advised and ports and workplaces being closed, companies are experiencing widespread disruption. The impact has the potential to be commercially damaging and those
Understanding bankruptcy and the matrimonial home: What are the risks I should be aware of?
Bankruptcy and the matrimonial home – what are risks you should be aware of? What is bankruptcy? In its very basic form, where an individual is made bankrupt, their assets will be collected by the Official Receiver or Trustee in Bankruptcy (“TiB”) for the benefit of unsecured creditors. Is your home at risk if your partner is bankrupt? If your partner or you are declared bankruptcy, you could risk losing your home. Bankruptcy procedures and the sale of property
The 7 facts you need to know about setting aside a default judgment
The 7 facts you need to know about setting aside a default judgment When a default judgment is given against a business or individual, they have the right to ask that it be set aside. We look at what a default judgment is and how to make a successful application to have it removed. What is a default judgment? When a civil or commercial claim is brought in the County or High Court and the defendant fails to either