Peabody Energy Corporation is one of the biggest energy companies in the world. Its main business is coal mining and it conducts extensive operations in the United States and in Australia. Peabody had been hit by declining coal prices both for thermal coal and also for metallurgical coal used for steel making, especially due to the declining demand from … Continue Reading
The topic of net neutrality has continued to be at the forefront of public discourse over recent years. This is the result of the FCC’s repeated attempts to impose regulations designed to protect consumers while at the same time telecom companies seek to control their product and the services they provide without what they contend … Continue Reading
Abengoa, the Spanish engineering and energy firm, has communicated to Spain’s High Court that it has initiated restructuring negotiations with its creditors in an attempt to avoid insolvency proceedings. If the restructuring is unsuccessful, it would produce one of the major insolvencies in the history of Spain. On December 18 2015, the Court said it would … 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 1 October 2015 the Insolvency (Protection of Essential Supplies) Order 2015 (“PESO”) will come into force. PESO aims to strengthen the statutory protection provided to insolvent companies and insolvency practitioners who need to utilise ‘essential supplies’ to continue to trade. Essential Supplies When a business enters an insolvency process they often need continuity of … Continue Reading
In common with most of the population, now is the key time for making those resolutions for 2015. Suggestions appear below! 1. Review your cases – countdown to expiry of Conditional Fee Agreements Readers will not doubt be aware that the exemption for recoverability of success fees and insurance premiums in insolvency litigation is due … Continue Reading
After years of lobbying by Association of Business Recovery Professionals and others, the Enterprise and Regulatory Reform Act 2013 (ERRA) received Royal Assent in April 2013. Most importantly, the ERRA gives the Secretary of State power to amend s233 of the Insolvency Act of 1986. Section 233 was originally introduced in 1986 in an attempt … Continue Reading