Insolvency

Material Breach of Contract Explained

What happens when a critical business agreement falls apart? A material breach of contract doesn’t just disrupt daily operations – it can unravel key partnerships, cause significant financial loss, and damage a company’s reputation. When one party fails to uphold contractual obligations, the ripple effects can disrupt even the most well-structured agreements, leaving companies vulnerable […]

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Corporate Debt Restructuring: The Ultimate Legal Guide

When a business is under financial pressure, corporate debt restructuring can offer a lifeline. Helping companies survive, regain control of their finances, and protect stakeholder interests, it’s a practical way forward that avoids the harsh consequences of insolvency. In this guide, we take you through the key aspects of corporate debt restructuring, from the options

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Director Disqualification Update – January 2022: New Year, New Laws

On 15 December 2021, the Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act 2021 received Royal Assent and serves as an interesting development within the director disqualification legal regime. You may have read our previous update on this in May 2021 Director Disqualification Update after the Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill had its first

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Director disqualification

Director Disqualification and Coronavirus Bounce Back Loans

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

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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Extension of Restrictions under Corporate Insolvency and Governance Act 2020

As of yesterday, Thursday 24 September 2020, the Government has brought into force an extension to the operation of a number, but not all, of the restrictions and measures found within the Corporate Insolvency and Governance Act 2020 (“CIGA”). This has been done via Regulation 2 of The Corporate Insolvency and Governance Act 2020 (Coronavirus)

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