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Insolvency Blog

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

Administration to dissolution: what does para 84 mean?

Administrators frequently use paragraph 84, Schedule B1, Insolvency Act 1986 to bring to an end an administration when they have no assets left, but can this be a risky course of action? Section 1032, Companies Act 2006, appears to strive to ensure that restoration of a dissolved company causes the dissolution to have had no effect: s1032(1)...

Date: 16th November, 2015   |   Author: Chris Laughton   |   Comments: 0

Around the insolvency world

Thoughts after a conference call amongst hww international cooperation partners* Formal insolvency is out of fashion in Western Europe as a result of low interest rates, banks’ reluctance to precipitate formal procedures and few assets remaining in the insolvencies that do happen. Regionally there are certain industries producing more...

Date: 4th November, 2015   |   Author: Chris Laughton   |   Comments: 0

Chris Laughton receives Top Insolvency Practitioner Award

Congratulations to Chris Laughton, Restructuring & Insolvency Partner at Mercer & Hole who has been awarded Top Insolvency Practitioner by Manolete Partners PLC. The awards ceremony took place to celebrate Manolete’s 100th insolvency litigation case. The award was given to Chris Laughton to celebrate one of the most successful cases...

Date: 1st October, 2015   |   Author: Natalie Taylor   |   Comments: 1

ICAEW publishes LLP article by Mercer & Hole Partner

Mercer & Hole Restructuring & Insolvency Partner, Steve Smith has had his article ‘From Partnership to LLP to Limited Company: advice along the road’ published on the ICAEW Business Advice Service website. The article discusses the pros and cons to each entity and also, of course, many issues to be aware of when...

Date: 26th August, 2015   |   Author: Natalie Taylor   |   Comments: 0

LLP to Limited Company – advice on conversion

The conversion of a partnership into an LLP is a relatively easy concept to envisage and is one that was adopted by many partnerships after the introduction of the Limited Liability Partnership Act 2000.  In principle, the assets owned by the partners, which are reflected in the partners’ capital accounts, were transferred to the...

Date: 29th June, 2015   |   Author: Steve Smith   |   Comments: 0

Creditors’ rights and overcharged VAT

Overcharged customers, HMRC and unsecured creditors generally are all protected by the result of a recent Judicial Review. If a supplier has overcharged VAT (and paid it over to HMRC) there are a number of consequences if it then enters formal insolvency proceedings: It can no longer reclaim the overpayment from HMRC; HMRC cannot set off the...

Date: 5th June, 2015   |   Author: Chris Laughton   |   Comments: 0

The Value of Insolvency

Insolvency professionals make a valuable contribution to the economy and should be paid for the value they provide (not the time they spend). Insolvent businesses are often rescued, saving hundreds of thousands of jobs and ensuring that creditors are treated fairly. So says “Why Insolvency Matters”, the report of a ComRes survey for...

Date: 22nd May, 2015   |   Author: Chris Laughton   |   Comments: 0

Mercer & Hole update Business Rescue Case Studies publication

Mercer & Hole’s Restructuring & Insolvency team have launched an updated version of Business Rescue Case Studies. The publication presents a range of examples where the Restructuring & Insolvency team have saved companies that had financial concerns. The experience of a technology company where the company’s customer base...

Date: 13th May, 2015   |   Author: Natalie Taylor   |   Comments: 0

Reorganising company ownership of properties

Although there may be good commercial reasons for the transfer of a property, such as reducing exposure to risk or reorganising shareholdings, the threat of crystallising a tax charge may be an unacceptable obstacle. This can be overcome with some careful planning. Situations where the commercial reorganisation of a company’s ownership of...

Date: 11th May, 2015   |   Author: Steve Smith   |   Comments: 0

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