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Restructuring & Insolvency - Legal Updates

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Aug
11
2017

Pre-winding up settlement with director set aside
#Restructuring & Insolvency #Dispute Resolution #Directors Duties

For a short time, Officeserve Technologies Limited (OTL) made a big impact in the ‘lunch at work’ market. Its director and majority shareholder, Cecil Anthony-Mike (CAM), oversaw a rapid expansion to an estimated value of £40 million. However, OTL was unable to pay the instalments due on two businesses it had acquired and in October 2016 was served with a winding-up petition. ...

May
22
2015

Don’t wind me up!
#Restructuring & Insolvency #Dispute Resolution

A winding up petition can be a very effective tool to persuade a reluctant debtor to pay an outstanding invoice. Not only is there the prospect of the company being placed into liquidation, a petition can be advertised seven business days after it is served. Advertisement typically results in the company’s bank account being frozen, which will inevitably have a paralysing effect on its business. Once this stage has been reached the company may have passed the point of no return....

Feb
11
2010

The Rise of the Bankruptcy Tourist?
#Restructuring & Insolvency

English bankruptcy laws are much more lenient than other European countries. Does that mean anyone can choose to make themselves bankrupt here and what can be done to stop this happening?...

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