The suitability of the collective consultation regime under the Trade Union and Labour Relation (Consolidation) Act 1992 (“TULRCA”) in an insolvency scenario has always been a hot topic amongst insolvency professionals. The recent case of West Coast Capital (USC) Limited (“USC”) provides a stark example of the hard-line approach the Secretary of State for Business … Continue Reading
Background As things currently stand The aim of the EC Regulation on Insolvency Proceedings (1346/2000) (Regulation) is to improve the efficiency of insolvency proceedings with cross border aspects. It provides, within the European Union (EU), rules for determining: the proper jurisdiction for a debtor’s insolvency proceedings; the applicable law to be used in those proceedings; … Continue Reading
In the United Kingdom, the Pension Protection Fund (“PPF”) is the safety net for the employee members of a defined benefit pension plan or scheme. The PPF compensates members when an employer has not and cannot put sufficient assets in the pension scheme to meet its obligations to member employees and the employer has suffered a … Continue Reading
