Laura Crawford and Jon Chesman wrote an article in November 2016 commenting on Hanjin Shipping Co’s filing for bankruptcy protection in the Seoul Central District Court and applications for temporary protection in the US. See Stormy Waters for the Shipping Industry Jon Chesman has been quoted in a further article about Hanjin Shipping Co written by Tom … Continue Reading
The shipping industry was recently in the headlines when on 31 August 2016 Hanjin Shipping Co filed for bankruptcy protection in the Seoul Central District Court. Hanjin was South Korea’s biggest container carrier and the seventh largest in the world. Upon obtaining bankruptcy protection, 66 of its ships containing an estimated $14.5bn of cargo were left … Continue Reading
At the closing of the summer transfer window on 31 August, it was announced that the Premier League had splurged a record-breaking £1.165 billion on player transfers. To put that in context, that is roughly equivalent to the GDP of the Central African Republic but was spent by 20 English clubs in a two month period. … Continue Reading
Significant changes have taken effect and are expected to continue within the education sector, the result of which may lead to an increase in restructuring activity and additional pressure on funding streams. In the Further Education (“FE”) sector, the Government has introduced “Area Reviews”, whereby FE institutions within a particular geographical area are encouraged to merge … Continue Reading
The performance of the UK manufacturing sector is one of the key indicators of the health of the UK economy as a whole. To what extent is the current stagnant growth in that sector a result of the impending EU referendum? The Markit/CIPS manufacturing Purchasing Managers’ Index fell to 49.4 in April 2016, its lowest … Continue Reading
From 1 April 2016, all workers over the age of 25 will have to be paid the National Living Wage (“NLW”) of £7.20 per hour. For workers under the age of 25, the National Minimum Wage (“NMW”) will continue to apply. The NLW represents a 50p (7.5%) increase per hour compared to the current NMW for … Continue Reading
Unless you have been living in a cave, you will have heard the very disappointing news that the current exemption to the Jackson reforms for insolvency claims under the Legal Aid, Sentencing and Punishment of Offenders Act (“LASPO”) will cease as of 1 April 2016. If you are to avail yourself of the benefits of … Continue Reading
When will the Court exercise its discretion to adjourn a bankruptcy petition or make an immediate bankruptcy order? The recent Bankruptcy Court decision of Aabar Block Sarl v Maud provided clarification on the matters that the Court will take into consideration. John Alderton (Partner) and Jon Chesman (Associate) represented the Debtor, Glenn Maud, who successfully applied for … Continue Reading
On 1 October 2015, several changes to UK insolvency legislation are coming into force. Insolvency practitioners and stakeholders should take note of the following key amendments to make sure they are up to date with these changes. The amendments are the next raft of changes to insolvency law under the Small Business Enterprise and Employment Act … Continue Reading
On Friday 11 September in the High Court in London, Mr E Murray (sitting as a Deputy High Court Judge), handed down a reserved judgment: Clutterbuck & Paton v William Cleghorn (as Judicial Factor to the Estate of Elliot Nichol Deceased), in which the entirety of the Claimants’ £97.5m claim was struck out as an … Continue Reading
