The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. Many of the provisions of the act are based on the bill which was initially proposed pre-COVID-19, with a framework having been set out in August 2018. However, since the pandemic struck, new temporary provisions have been added to the act.…
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades. Now they are slouching further into the corporate world. “In the corporate world, a zombie is defined as a company which hasnt actually…
THE future of Indigenous entity Bigambul Ltd will be decided at a second meeting of creditors next week. The entity, which is headquartered in King Scrub, was placed into voluntary administration on August 19 and is in the hands of Mackay Goodwin’s Thyge Trafford-Jones and Domenic Calabretta. According to minutes of the creditors meeting on…
Henry Boot has put its affordable housing company Starfish Commercial into a creditors voluntary liquidation. The firm, which it acquired just over a year ago, has been hit hard by the coronavirus crisis, a statement from the contractor said. Whilst we have been encouraged by recent increases in activity within our construction division, which is…
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades. Now they are slouching further into the corporate world. “In the corporate world, a zombie is defined as a company which hasnt actually…
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades. Now they are slouching further into the corporate world. “In the corporate world, a zombie is defined as a company which hasnt actually…
On 25 June 2020, the new Corporate Insolvency and Governance Act (the “Act”) received Royal Assent. We anticipate that the changes introduced by the Act will have a significant impact on the future direction of the UK restructuring market. The purpose of the Act is to promote a stronger rescue culture in the UK, providing…
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades. Now they are slouching further into the corporate world. “In the corporate world, a zombie is defined as a company which hasnt actually…
The low down According to the OECD, the UK economy will shrink by 11.5% this year and by as much as 14% in the event of another lockdown. Unsurprisingly, the government has rushed through legislation to avert a deluge of corporate insolvencies, pushing it through parliament in just six weeks. It moves UK law closer…
While the disconnect between markets and the real economy has widened further, there is no guarantee that it will narrow, especially with central banks acting as the buyer of last resort. Yet the risk of an extended run of corporate insolvencies remains. In this environment, high-quality income generation is the key, together with the flexibility…