Emma J. Flacks

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The UK continues its objective stance on rescue procedures

The High Court has considered whether a winding-up petition is permitted where the Petitioner has a collateral purpose for bringing the petition. The collateral purpose, also referred to as an ulterior motive, would result in the Petitioner making a gain, financial or otherwise, from bringing the petition. The court found that in the event that … Continue Reading

Provisions of The Small Business, Enterprise and Employment Act now in force

We published a client alert in March, confirming that the Small Business, Enterprise and Employment Act 2015 (the “Act”) received Royal Assent on 26 March 2015 and summarising the provisions which will amend insolvency legislation. The provisions of the Act will come into force in stages over the next year, but a number of provisions, including … Continue Reading

Recent Insolvency Developments

The Ministry of Justice announced last Thursday that the insolvency exemption to the Jackson Reforms has been indefinitely extended. This means that office-holders are able to continue to operate on conditional fee arrangements, recovering success fees from the losing party and with after the event insurance premiums remaining recoverable from the losing party. See our … Continue Reading