In BTI 2014 LLC v. Sequana SA and Others [2022] UKSC 25 (“Sequana”), the Supreme Court confirmed the existence of a duty owed at common law by company directors to consider the interests of its creditors, and also provided...more
12/23/2022
/ Board of Directors ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Dividends ,
Fiduciary Duty ,
Insolvency ,
Liquidation ,
Shareholders ,
UK ,
UK Supreme Court
The National Security and Investment Act 2021 ("NSIA" or "the Act") came into force in the UK on 4 January 2022. NSIA expands the UK Government’s powers to scrutinise certain acquisitions and investments on national security...more
On 8 October 2020 the UK Government published draft regulations which were intended to regulate and scrutinise pre-pack sales to connected parties. The regulations required that, in relation to a sale of all or substantially...more
2/26/2021
/ Board of Directors ,
Buyers ,
Connected Entities ,
Creditors ,
Insolvency ,
New Regulations ,
Sale of Assets ,
Sellers ,
Selling a Business ,
Shareholders ,
UK ,
UK Parliament
The return of Crown Preference on 1 December, 2020 has widely united the restructuring community against the new measures. Whilst the rationale that the Treasury should have priority for sums received by a debtor on its...more
This bulletin is of particular interest to our clients and contacts who are directors of UK companies which face liquidity issues. Directors (including shadow directors) can be liable for the debts of their companies when...more
The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. Many of the provisions of the act are based on the bill which was initially proposed pre-COVID-19, with a framework having been set out...more
9/15/2020
/ Board of Directors ,
Breach of Contract ,
Contract Termination ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Goods or Services ,
Insolvency ,
Lenders ,
Moratorium ,
Personal Liability ,
Suppliers ,
Supply Contracts ,
UK ,
UK Companies Acts ,
UK Insolvency Act ,
Winding Up Petitions ,
Wrongful Trading