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The Finance Act 2020 receives Royal Assent
The Finance Act 2020 received Royal Assent on the 22 July, confirming the government’s intention to restore HMRC as a secondary preferential creditor on insolvency. From 1 December 2020 HMRC’s claim will sit ahead of floating charge holders and unsecured creditors reducing the monies available for other creditors in an… Read more
Guidance on lodging and admitting proof of debt
The case of Re Rochay Productions Ltd [2020] EWHC 1737 (Ch) provides useful guidance to those both lodging and admitting proofs of debt at creditors meetings. Opus Art Limited brought an application to the court challenging the admission of a proof of debt lodged by Rochay Elite Limited at… Read more
Case Law Update: Manolete Partners plc v Ellis
The decision in Manolete Partners plc v Ellis has recently been published here https://www.bailii.org/ew/cases/EWHC/Ch/2020/1674.html The decision deals with and provides a review of wrongful trading, preference and transactions at an undervalue and also touches upon directors duties. It is interesting due to the fact that two of the… Read more