Here is our summary of key developments relevant to restructuring professionals that you might have missed, with links for further information.
The case of Mannarest is the first reported example of a liquidator converting a liquidation to an administration. Although the circumstances are not “typical”, it is helpful to know that in the right circumstances the court will support such an application.
In case you have missed this announcement, it is worth noting that Companies House are asking all companies to check that their filing records are correct. As practitioners we often rely on the register to obtain and verify information, so this is certainly something to be mindful of in the immediate term.
Did you see our newest Litigation Quick Guide? Options for Enforcement and Recovery of Insolvency Claims.
The government has just published this consultation on corporate civil enforcement reforms. It includes interesting proposals regarding the director’s disqualification regime, but of wider interest are proposals regarding preference and transaction at an undervalue (TUV) claims to include presumptions where a transaction is with a connected party.
It looks like the successful restructuring of US-quartered Fossil Group, using an English restructuring plan is catching on, with New Fortress Energy announcing its intention to restructure part of its business using an English plan. Our quick guide gives insight into Restructuring Foreign Companies In England Using a Restructuring Plan, explaining the benefits of doing so, but this is not just something for US companies!
Perhaps not something to read, but at least something to note, is the consultation on collective redundancy obligations. The Employment Rights Act 2025 introduces (or will introduce) various changes to employment law, including expanding the requirement for employers to consult where redundancies are made across an entire organisation. This will capture those companies that have multi-sites, of smaller employee numbers. The consultation invites responses on how thresholds should be set alongside the introduction of the organisation wide threshold.
What is fair when it comes to a CVA? Does this recent Scottish decision pave the way for a different approach to unfair prejudice challenges to a CVA? HMRC were unsuccessful in its challenge, but the judge cautioned against applying rigid rules when testing whether a CVA is fair to creditors. The last time we saw high profile challenges to a CVA were back when the CVAs proposed by Regis and New Look were challenged by its landlords – for a reminder of the key takeaways on fairness from those cases read our previous alert Treatment of Creditors in a Company Voluntary Arrangement – Fairness and Voting.
The latest Legal NewsBITE: Food and Drink Quarterly is a bumper packed edition, highlighting many changes that are or could impact those businesses operating in the food and drink sector – worth keeping an eye on for those practitioners that work with businesses in that sector.
Over the past 18 months or so, we have seen several cases grapple with questions concerning intellectual properties (IPs) remuneration – increases, challenges and information requirements, etc. Look out for our special newsletter (coming shortly), which will bring all those cases together in one place as a snap shot of what “to do” (or not) when considering approvals and challenges.
If you would like specific advice on any of these issues or anything else, please contact a member of our UK Restructuring & Insolvency team.
