Emily Davis

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To Complete or not to Complete – “Early” Completion of Company Voluntary Arrangements (UK)

Can a Company Voluntary Arrangement (“CVA”) complete, but still remain in place and bind creditors? The simple answer is yes; but it does require (a) the terms of the CVA to be carefully drafted to allow notice of completion to be filed before the end of the CVA term; (b) compliance with the terms of … Continue Reading

(UK) Keeping the (light) Bulb on special energy administrations – what will happen next to Bulb ?

We discussed the announcement that Bulb Energy Ltd (“Bulb”) was due to be placed into special administration in our previous blog outlining how the rules for energy supply companies work, the supplier of last resort (“SoLR”) regime and what energy supply company special administration entails. In this blog we look at why it was necessary … Continue Reading

A (partial) phasing out of the current prohibitions on presenting UK winding up petitions?

Further to our blog last week regarding the restrictions on presentation of winding-up petitions being (partially) lifted, the draft legislation replacing the existing restrictions has now been published and is due to come into force on 29 September 2021. Following the end of the current restrictions on 30 September 2021 (please see our previous blogs … Continue Reading

Updated: Guide To Financial Support Measures Across Europe And The Middle East

Our most recently updated guide includes updates for the UK, France, Italy, Germany, Czech Republic and Slovakia. In brief, the updates include: UK Updates to the Coronavirus Job Retention Scheme (CJRS) including that claims for furlough days in August 2021 must be made by 14 September 2021. Updates to temporary extension to carry back of … Continue Reading

Resetting the UK Landlord and Tenant Relationship Post-COVID-19 Webinar

On 29 September 2021, our panel of experts will consider the position of UK landlords and tenants post-pandemic. Our speakers will explore strategies for rent recovery and rent payment from both the landlord’s and tenant’s view, the question of arbitration versus negotiation, the impact of re-negotiating and re-gearing leases on covenant strength and values, and … Continue Reading

Small suppliers no longer sheltered from the UK “ipso facto” regime

Last year, the Corporate Insolvency and Governance Act 2020 made a number of changes to the UK insolvency landscape. Amongst the changes, was the addition of the “ipso facto” regime, which prevents suppliers terminating supply contracts as a result of insolvency-related events. Up until 30 June 2021, “small suppliers” were exempt from the regime.  However, … Continue Reading

Updated: Guide To Financial Support Measures Across Europe And The Middle East

Our most recently updated guide includes updates for Germany, the Kingdom of Saudia Arabia and Prague, notably: Germany Based on the “Guideline for Federal Funding of Production Plants for Borosilicate Tubular Glass and Glass Vials for Use in Vaccine Production”, the BMWi is funding important products for vaccine supply in Germany. Kingdom of Saudi Arabia … Continue Reading

UPDATED Global Insolvency Report: Impact of Covid-19 on Insolvency Laws

The most notable changes to our updated guide this week are those impacting Germany where: The suspension of the obligation to file for bankruptcy has expired. A new preventive restructuring framework for enterprises has been introduced (implementation of the European Directive on the Preventive Restructuring Framework). The suspension of the obligation to file for insolvency … Continue Reading

Updated: Guide To Financial Support Measures Across Europe And The Middle East

Our most recently updated guide includes updates for the Czech Republic, France, UK, Italy, Germany, the Slovak Republic and the UAE, notably: Czech Republic There have been updates to: The deadline for submitting applications for the COVID-lease programme has now expired. A new COVID-2021 programme has been introduced. A new COVID Uncovered Costs programme has … Continue Reading

Updated: Guide To Financial Support Measures Across Europe And The Middle East

Our most recently updated guide includes updates for the UK, Italy, Germany and the Czech Republic notably: UK Updates to the Coronavirus Job Retention Scheme (CJRS) Grants under the Self-Employment Income Support Scheme (SEISS) have been extended. An increase to the Value Added Tax (VAT) for hospitality, holiday accommodation and attractions. The full relief available … Continue Reading

Guide for UK Corporates: Assessing Business Viability and Director Risk

2021 remains challenging for many businesses, and uncertainties about the future make it imperative for UK businesses to identify and address potential risks to their business now. We have updated our Assessing Your Business Viability and Director Risk Guide to assist UK businesses with identifying those risk areas.  Our guide covers cash flow considerations, financial … Continue Reading

Caution for UK lenders: failure to abide by deed of priority may result in appointment of administrators being void

The case of Arlington Infrastructure Ltd (In Administration) v Woolrych [2020] EWHC 3123 (Ch) is a cautionary reminder to qualifying floating charge holders (and their advisors) to review the terms of all security documents, before seeking to appoint an administrator. In this case, failure by junior chargeholders to obtain consent from senior chargeholders (as required … Continue Reading

UK Government Extends Furlough Scheme Until 31 March 2021

As you will have seen in recent announcements, the government is now: Extending the Coronavirus Job Retention Scheme (CJRS) until 31 March 2021. Postponing the Job Support Scheme (JSS), possibly indefinitely. Scrapping the Job Retention Bonus (JRB), but this will apparently be replaced by another “retention incentive at the appropriate time”. Businesses that have spent … Continue Reading
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