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Crypto Assets in Cross Border Insolvency (A Perspective from England & Wales)

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Introduction Crypto assets are currently a hot topic in the insolvency world and one with which IPs are engaging across the globe. There are increasing numbers of cases worldwide where either a crypto business has failed, crypto assets form part of an insolvent Estate or assets in an Estate are converted into crypto assets with […]

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Is it safe to dismiss an employee with less than two years’ continuous service?

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Many employers believe that it is safe to dismiss an employee with less than two years’ continuous service on the basis that they do not have ordinary unfair dismissal rights.   It is certainly true that the  general rule is that an employee requires two years’ continuous service to bring a claim of ordinary unfair dismissal

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If you've been contacted by the Insolvency Service and worried about the HMRC bounce back loan investigation, you need to seek immediate advice. Bounce back loan fraud is a very serious offence, which the authorities are looking to clamp down on.

HMRC Bounce Back Loan Investigation

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Introduced by the government in April 2020, the Bounce Back Loan Scheme (BBLS) provided rapid access to finance for small businesses affected by the coronavirus pandemic. Through the scheme, SMEs could borrow between £2,000 and 25% of their turnover, up to a maximum of £50,000. While businesses took advantage of the BBLS, it wasn’t without

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Is Your Business Struggling? Under Pressure From Your Landlord, Suppliers Or Other Creditors?

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The perfect storm of the Covid pandemic, the war in Ukraine, the current high inflationary environment and cost of living crisis has inevitably placed many pub businesses under significant financial stress. Whilst a shareholder’s liability in respect of a limited company is limited to the value of their shares, UK company and insolvency legislation imposes

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Director disqualification

Director Disqualification and Coronavirus Bounce Back Loans

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The Bounce Back Loan Scheme was introduced to provide financial aid to small and medium-sized businesses affected by the coronavirus pandemic. The scheme enabled small and medium-sized businesses to borrow up to £50,000 with no fees or interest payable for the first 12 months. After 12 months, an interest rate of 2.5% per year becomes

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30 September 2021 – a Key Date for Insolvency Professionals

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Background As a result of the coronavirus pandemic, the Corporate Insolvency and Governance Act 2020 (“CIGA”) received Royal Assent on 25 June 2020. CIGA made a number of substantial changes to existing insolvency legislation. Some of the significant changes (discussed in further detail below) were in relation to the presentation of winding up petitions and

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An update: the importance of maintaining adequate company accounting records in the context of director disqualification

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A company is obliged to keep adequate accounting records in accordance with section 386 of the Companies Act 2006. This provision sets out a number of requirements for a company’s accounting records, including that they must show and explain the company’s transactions and disclose with reasonable accuracy, at any time, the financial position of the

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