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“Corporate restructuring topical issues and more”

Corporate Restructuring Blog

Review of the Corporate Insolvency Framework

The UK Government has today launched a consultation on options for reform of the corporate insolvency regime. Its proposals are in four broad areas: introducing a moratorium for distressed businesses to benefit from protection against legal action while considering their options for rescue widening the definition of essential supplies,...

Date: 25th May, 2016   |   Author: Chris Laughton   |   Comments: 0


Mercer & Hole on saving an investment firm

The breakdown of corporate governance in any organisation can lead to significant problems, financially, operationally and structurally for the business going forward. Often such breaches are associated with financial loss, breach of regulation and loss of trust, both internally and externally. Once such a breach is discovered it is essential that...

Date: 18th March, 2016   |   Author: Chris Laughton   |   Comments: 0


Administrators can sell fixed charge assets

Re: Musion Systems Ltd [2014] EWCA Civ 639 illustrates paragraph 71, Schedule B1 (“Sch B1”), Insolvency Act 1986 and endorses the sale by administrators of assets subject to a fixed charge. Background The company provided holographic illusion services at events organised by its customers. Three founder-directors had seriously fallen...

Date: 15th February, 2016   |   Author: Chris Laughton   |   Comments: 0


The best Insolvencies are constructive

The latest Government statistics on corporate insolvency are available at: https://www.gov.uk/government/statistics/insolvency-statistics-october-to-december-2015--2 Mercer & Hole’s experience of formal insolvency appointments mirrors the downward trend in the Government figures, but the detail of our work is revealing. We have four of...

Date: 4th February, 2016   |   Author: Chris Laughton   |   Comments: 0


Chris Laughton will be presenting at R3 and LexisNexis webinar

Chris Laughton, Restructuring & Insolvency Partner will be presenting at the R3 and LexisNexis Restructuring and Insolvency webinar on 9 February covering ‘Reform of EU insolvency regulation and case law update’. The leading panel of experts, consisting of Simeon Gilchrist, Chris Laughton and Chris Mallon, discuss the issues...

Date: 29th January, 2016   |   Author: Natalie Taylor   |   Comments: 0


Chris Laughton addresses a European audience

Chris Laughton, Restructuring & Insolvency Partner discusses Insolvency Practitioners’ fees in England and Wales in Eurofenix, INSOL Europe’s quarterly journal. The fees regime for Insolvency Practitioners (IPs) in England and Wales changed with effect from 1 October 2015 as a result of the Insolvency (Amendment) Rules 2015. The...

Date: 28th January, 2016   |   Author: Natalie Taylor   |   Comments: 0


Mercer & Hole safeguard 53 jobs as Safesec Ltd goes into Administration

Mercer & Hole Chartered Accountants’ Restructuring & Insolvency team saved a significant number of people from facing a bleak Christmas, when they protected their employment immediately before Christmas by rescuing a business. Ailing railway security firm, Safesec Ltd, instructed Mercer & Hole’s Restructuring &...

Date: 22nd January, 2016   |   Author: Natalie Taylor   |   Comments: 0


Henry Page features in Recovery magazine - Are investment banks special?

Our Restructuring & Insolvency Director, Henry Page has written the attached article ‘Are investment banks special?’ which appears in the Winter edition of Recovery magazine. Whereas special administrations were introduced under the Investment Bank Special Administrations Regulations 2011, their relevance extends beyond investment...

Date: 18th January, 2016   |   Author: Natalie Taylor   |   Comments: 0


Solvent liquidations new tax rules

The Government has issued draft legislation for inclusion in the Finance Bill 2016 covering distributions to shareholders in a winding up - Members’ Voluntary Liquidation (MVL). The proposed new rules Where the following three conditions are met, distributions to individuals from the liquidation of a company in respect of share capital may...

Date: 12th January, 2016   |   Author: Steve Smith   |   Comments: 0


Technology Company Rescue

Rescue is the appropriate solution for viable businesses in financial distress. For Mercer & Hole’s restructuring team this is more than a belief – it’s what we do. With many owner managed businesses struggling to obtain additional bank finance to boost their liquidity, what options are there for companies that are exhausting...

Date: 19th November, 2015   |   Author: Chris Laughton   |   Comments: 0


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