Rachael Markham

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Articles

Top 10 Predictions for 2025 in UK Restructuring and Insolvency | Open Legal Blog Archive

Jan 8, 2025 | openlegalblogarchive.org | Rachael Markham

What can we expect in R&I in 2025? Well that’s always difficult to know for certain but our predictions are based on what we saw in 2024, and how we expect some of these to play out in 2025. And let’s see where we are at the end of the year because there were a few twists and turns in 2024 that no one saw coming that kept us all on our toes. You can probably add a few of our 2024 predicitions to this list too – some of these did not come to fruition but they may well still be on the cards for 2025.
Top 10 Predictions for 2025 in UK Restructuring and Insolvency

Jan 8, 2025 | natlawreview.com | Rachael Markham

Skip to main content January 08, 2025 Volume XV, Number 8 Legal Analysis. Expertly Written. Quickly Found. Trending News Top 10 Predictions for 2025 in UK Restructuring and Insolvency Print Mail Download />i Facebook Twitter Linkedin Pinterest Reddit Facebook Messenger Email Digg Print X Buffer Flipboard What can we expect in R&I in 2025?
When Is The UK Court Likely To Agree To A Long Administration Extension?

Dec 11, 2024 | natlawreview.com | Rachael Markham

It is usual for administrators to ask for an administration to be extended by 12 months – but we have seen the courts agree to longer periods. For example, certain of the Lehman group company administrations were extended by periods of four and six years – having previously been extended by eight. In the more recent case of VTB Capital Plc[1] the court extended the administration period for 5 years. So, when is it that the Court is likely to agree to a long extension?
(UK) The Importance of a Date: When Is a Winding Up Petition Presented?

Dec 10, 2024 | natlawreview.com | Rachael Markham

The date that a winding up petition is presented has consequences – consequences for the company subject to the petition, its directors, the petitioning creditor and it is also important in the context of a subsequent liquidation where the date is relevant to claims which a liquidator can bring.
I have the power – UK court confirms the ability of sole directors to make decisions

Nov 29, 2024 | natlawreview.com | Rachael Markham

Following the decisions in Fore Fitness and Active Wear – where the court examined the validity of decisions made by a sole director of a company that operated wholly or partly under the Model Articles[1]– the position was not entirely settled. In the context of administration appointments where the validity of an appointment rests on the power of the appointor to make an appointment, the uncertainty is more acute. If there is no power, the validity of the appointment is brought into question.
Categorisation of Fixed and Floating Charges

Sep 16, 2024 | lexology.com | John Alderton |Russ Hill |Monika Lorenzo-Perez |Charlotte Møller |Devinder Singh |Jon Chesman | +10 more

Categorisation of a charge as fixed or floating will have a significant impact on how assets are dealt with on insolvency and creditor outcomes. Typical fixed charge assets include land, property, shares, plant and machinery, intellectual property such as copyrights, patents and trademarks and goodwill.
Validity of Appointments and Reliability of UK Companies House Register

Aug 15, 2024 | natlawreview.com | Rachael Markham

In the case of JDK Construction Limited the Court of Appeal had to consider whether an earlier decision by a High Court judge that liquidators had been validly appointed was correct. The answer to that question turned on whether the resolutions that the company had passed to place the company into voluntary liquidation were valid given there were questions over who the members of the company were (or should have been) at the time the resolutions were passed.
Validity of Appointments and Reliability of UK Companies House Register

Aug 15, 2024 | lexology.com | Rachael Markham

In the case of JDK Construction Limited the Court of Appeal had to consider whether an earlier decision by a High Court judge that liquidators had been validly appointed was correct. The answer to that question turned on whether the resolutions that the company had passed to place the company into voluntary liquidation were valid given there were questions over who the members of the company were (or should have been) at the time the resolutions were passed.
UK Answers if Preferential Creditors are Unsecured Creditors

Aug 13, 2024 | natlawreview.com | Rachael Markham

It seems like s248 of the Insolvency Act 1986 (“Act”) is flavour of the month with the judiciary at the moment, with two recent cases analysing this in the context of administration extensions (read our previous blogs here and here ) and now a further decision considering this in the context of converting an administration into creditors voluntary liquidation (“CVL”) – the question this time being whether “preferential creditors” are unsecured creditors in the context of converting an...
Reflections on The UK Pensions Regulator’s (TPR) Powers that could see Insolvency Practitioners facing £1million fines

Aug 7, 2024 | natlawreview.com | Rachael Markham

There is a tension between UK insolvency and pensions laws. Put simply, this is because insolvency laws look to protect all of the company’s creditors, but pension laws seek to protect the interests of the pension creditors alone.