News
Insolvency and the continuation of essential supplies
Posted on April 21, 2015
The Insolvency (Protection of Essential Supplies) Order 2015 (the Order) will mean that contractual terms that allow suppliers of essential supplies to withdraw their services or demand additional (“ransom”) payments in return for their continued provision, or otherwise vary the terms … Continue reading
Gov’t ‘must address conflicts between insolvency and employment law’
Posted on March 16, 2015
Conflicts between employment law and insolvency law are putting insolvency practitioners in a difficult situation, it has been claimed. The point was made by Accountancy Age in reference to administrators from Duff & Phelps and the Gallagher Partnership being scrutinised … Continue reading
Insolvency practitioner fee rules laid out in parliament
Posted on March 16, 2015
New rules that will tackle excessive fees charged by insolvency practitioners have been laid out in parliament. They mean that practitioners in England and Wales have to provide more information about their fees, including a summary of estimated costs, work … Continue reading
Waverton businessman banned from acting as company director
Posted on March 16, 2015
A businessman from Waverton has been banned from being a company director for 12 years. An investigation by the Insolvency Service found that Alan Proto created false documents in order to try to transfer assets worth more than £1 million. … Continue reading
LASPO delay ‘helps gov’t look after its own’
Posted on March 7, 2015
The delay of the introduction of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LAPSO) indicates that the government is simply looking after its own interests, it has been suggested. The no-win, no-fee regime will not “for the … Continue reading
Trade bodies join forces against controversial business insolvency policy
Posted on March 6, 2015
Seven trade bodies have united to fight justice minister Chris Grayling over Legal Aid changes that they say could cost firms and taxpayers £160 million. The controversial policy which will affect insolvency cases could come into effect next month. It … Continue reading
Football League demands to meet with Birmingham FC owners
Posted on March 2, 2015
The Football League is calling for an urgent meeting with BIHL, the owners of Birmingham City FC, following its move into administration. BIHL has gone into receivership and the Football League issued a statement confirming that its officials wanted to … Continue reading
Racehorse owner banned for £9.3m wine investment scam
Posted on March 2, 2015
A businessman and racehorse owner has been handed a 15-year ban on acting as a company director for a £9.5 million wine investment scam. Kenneth Gundlach ran Bordeaux Fine Wines (BFW) from a Croydon office and received more than £10 … Continue reading
‘Bring back criminal bankruptcy’, says R3
Posted on February 27, 2015
Company insolvency trade body R3 has called for criminal bankruptcy to be re-introduced to help return money from fraudsters to victims. The Midlands branch has said that bringing back Criminal Bankruptcy Orders would be more effective than the current system, … Continue reading
Football League demands to meet with Birmingham FC owners
Posted on February 27, 2015
The Football League is calling for an urgent meeting with BIHL, the owners of Birmingham City FC, following its move into administration. BIHL has gone into receivership and the Football League issued a statement confirming that its officials wanted to … Continue reading