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Montgomery Furnishings enters administration

Montgomery Furnishings enters administration Last updated: 10th Jul 2014 | INSIDER MEDIA LIMITED Curtain manufacturer Montgomery Furnishings has entered administration less than a year after being rescued by a2e Venture Catalysts. An onerous trading arrangement inherited by the buyer and issues with HM Revenue & Customs (HMRC) led to the administration,….” http://www.insidermedia.com/insider/north-west/118760-montgomery-furnishings-enters-administration?utm_source=nwales_cheshire_newsletter&utm_medium=manufacturing_article&utm_campaign=nwales_cheshire_news_tracker

Fall in insolvencies hits Begbies Traynor

Fall in insolvencies hits Begbies Traynor Last updated: 9th Jul 2014 | INSIDER MEDIA LIMITED Adjusted profit before tax has fallen at business recovery group Begbies Traynor after a drop in corporate insolvencies. The group has posted….” http://www.insidermedia.com/insider/national/118643-fall-insolvencies-hits-begbies-traynor?utm_source=northwest_newsletter&utm_medium=business_article&utm_campaign=northwest_news_tracker

Rescue deal for Coalville hotel

Rescue deal for Coalville hotel Last updated: 9th Jul 2014 | INSIDER MEDIA LIMITED A three-star hotel in Coalville has been bought out of administration after Grant Thornton oversaw a rescue deal. Raj Mittal and Nigel Morrison….” http://www.insidermedia.com/insider/midlands/118622-rescue-deal-coalville-hotel?utm_source=eastmidlands_newsletter&utm_medium=deals_article&utm_campaign=eastmidlands_news_tracker

Support to aid rescue of viable insolvent businesses

Support to aid rescue of viable insolvent businesses Last updated: 9th Jul 2014 | INSIDER MEDIA LIMITED Proposals to ensure that insolvent businesses continue to receive essential supplies from the IT and utility sectors to aid business recovery have been announced in a new consultation. Launched by business minister….” http://www.insidermedia.com/insider/national/118626-?utm_source=liverpool_newsletter&utm_medium=business_article&utm_campaign=liverpool_news_tracker

Debtor’s late challenge to English Individual Voluntary Arrangement fails

Debtor’s late challenge to English Individual Voluntary Arrangement fails July 4 2014 Key Point Neither failure to obtain debtor’s consent to modifications to an IVA proposal, prior to the creditors’ meeting; nor the unauthorised exercise….” http://www.lexology.com/library/detail.aspx?g=d5905614-0cca-409d-939e-5371537c5915

Lloyds Bank cuts 500 UK jobs, union accuses it of "salami slicing"

Lloyds Bank cuts 500 UK jobs, union accuses it of “salami slicing” By Reuters | 9 Jul, 2014 | ECONOMIC TIMES LONDON: Lloyds Banking Group is cutting 500 jobs in Britain, mostly in its finance and retail operations, to take cuts in the last three years to more than 13,000. The bank said on Wednesday… Continue Reading

Reform of ‘continuity of supply’ rules to benefit UK business rescue climate – R3

Reform of ‘continuity of supply’ rules to benefit UK business rescue climate – R3 8 July 2014 Responding to the government’s plans to consult on proposals to require utility companies and other key suppliers to continue to supply insolvent companies (announced today), R3 President Giles Frampton says:“Contract cancellations and ‘ransom’ charges which take effect on… Continue Reading

Breach of duty by directors and dishonest assistance claims by an English liquidator

Breach of duty by directors and dishonest assistance claims by an English liquidator July 4 2014 Key Points Where a sole director and shareholder of a company had breached fiduciary duties he could not ratify the breach if the company was….” http://www.lexology.com/library/detail.aspx?g=7424c7b2-802c-42a6-a39f-8f156a1ae72b

Protecting your rights to retention of title

Protecting your rights to retention of title July 8 2014 In the recent case Blue Monkey Gaming v Hudson & Others the High Court held that the responsibility of identifying and proving title to goods ….” http://www.lexology.com/library/detail.aspx?g=ef4d49b4-0db8-445c-b229-a57edbd14a6b

Ways to restructure financings in Germany

Ways to restructure financings in Germany July 4 2014 This is a two-part article on ways to restructure debt taken up by a German company. The first part looks at financings under English law, the second refers to German law-governed debt. Part I – Financings governed by English law (restructuring through schemes of arrangement) In… Continue Reading