Russell Hill

Mar 12, 2024 | lexology.com | John Alderton |Charlotte Møller |Russell Hill |Devinder Singh |Monika Lorenzo-Perez |Vanessa Stuart

In recent months, there have been a few changes regarding MVLs, which we set out below as a helpful reminder to practitioners. Statements of SolvencyCopies OnlyS89 of the Insolvency Act 1986 sets out the requirements for a statutory declaration of solvency where it is proposed that a company is wound up on a solvent basis. Previously, it was a requirement of s89 that the original statement had to be delivered to the registrar of companies.

Nov 30, 2023 | lexology.com | John Alderton |Monika Lorenzo-Perez |Devinder Singh |Russell Hill |Charlotte Møller |Vanessa Stuart

With increased public awareness that a notice of intention to appoint administrators (NOI) has been filed, we are finding that third parties – usually the company’s creditors, suppliers and employees – are disrupting the administration process in a way that can cause significant risk to a company’s ability to continue trading, the overall value of its business and its ability to be rescued as a going concern.

Oct 19, 2023 | lexology.com | John Alderton |Russell Hill |Charlotte Møller |Vanessa Stuart

Beware of Demand LettersAn immediate concern for any company is a threat to present a winding up petition made in an email or letter – regardless of the size of debt, whether the debt is disputed or the company has a counterclaim. The consequences of ignoring such a threat can have an immediate and adverse impact on a business. Failure to respond can be used as evidence that the company is unable to pay and that can be used as evidence to support presentation of a winding up petition.