Business Law | Mayo Wynne Baxter

Rogue Directors Beware

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In October 2016 the sentencing council launched a consultation entitled “Breach Offences Guideline Consultation”. The consultation was published on 25 October 2016 and will end 25 January 2017. The Sentencing Council is an independent body responsible for developing sentencing guidelines for the Courts to use when passing a sentence. Currently there are no guidelines available… Read the rest of this post (No Comments)

Partnerships and Phoenixing

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In business and in the media reference is often made to company’s phoenixing. Essentially a company ceases trading one day and then starts up the next, using the same staff, premises, directors or name (sometimes there is a little bit of invention with a subtle change in the name). In previous blogs the issue of… Read the rest of this post (No Comments)

Is my Company Insolvent?

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One of the most difficult and important questions for a Director of a company to answer honestly is whether their company is insolvent. For a Director of a family run company there is the additional burden of pride, the company may have been handed down through the generations and nobody wants to be in charge… Read the rest of this post (No Comments)

Filing Bankruptcy Petitions in the High Court

Building and sign bank (done in 3d)

As a general rule a bankruptcy petition should be presented to the appropriate court closest to the debtor’s home or place of business. In the event that the debtor is subject to an individual voluntary arrangement the petition should be presented in the court which has conduct of the individual voluntary arrangement. Prior to April… Read the rest of this post (No Comments)

Insolvency goes back to School – An Update

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This article is an update to the article dated 19 September 2016 entitled Insolvency Goes Back to School. At that stage the government had launched a consultation regarding the development of an insolvency regime for further education. The government set out its proposals in a consultation published 6 July 2016 which ran until 5 August. … Read the rest of this post (No Comments)

Special Administration Regime for Insolvent Housing Associations

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In the normal course of events when a company becomes insolvent it will be placed into an insolvency regime where the office holder will look to realise its assets and make a distribution to creditors, usually the highest bidder wins. In relation to a Housing Association they will normally own property which if sold to… Read the rest of this post (No Comments)

How exceptional do exceptional circumstances have to be?

Building and sign bank (done in 3d)

More often than not in a bankruptcy it will be that the family home is the main or only asset to be realised for the benefit of creditors, it is also the most emotive of issues. The home is where children are growing up or have grown up, a safe haven for them when other… Read the rest of this post (No Comments)

What is reasonable?

Most employers will be aware that if a disabled person is placed at a substantial disadvantage in the workplace there is a duty to make reasonable adjustments to alleviate that disadvantage but the question of what is and isn’t reasonable is often a matter of dispute. A person is disabled if they have a physical… Read the rest of this post (No Comments)

Insolvency is about to get more expensive!

Insolvency

A new fee structure applying to bankruptcy and company insolvency has been announced (1 July 2016) and is due to come into effect 21 July 2016. In addition to amendments to existing fees there is the introduction of the Official Receiver’s General Fee. This new fee will replace the current Secretary of State Fee, which… Read the rest of this post (No Comments)

The pitfalls of petitioning

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Whenever a creditor seeks to issue a petition against a debtor it is not unusual for the issue of how to deal with an offer to settle the debt before the petition is heard arises. Likewise how does the petitioner deal with accepting payment from the debtor both in bankruptcy proceedings and winding up? The… Read the rest of this post (No Comments)