Lexis®PSL Restructuring and Insolvency monthly highlights—January 2017

Lexis®PSL Restructuring and Insolvency monthly highlights—January 2017

January 2017 highlights from the Lexis®PSL Restructuring and Insolvency team. This month’s highlights include the recent Brexit decision from the Supreme Court, our plans for dealing with the new Insolvency (England and Wales) Rules 2016, together with a round up of other restructuring and insolvency news and cases.

Restructuring & Insolvency—looking ahead to 2017

Our panel of experts—Chris Laughton of Mercer & Hole, Frances Coulson of Moon Beever, Mark Sands of RSM and Nick Hood of Opus Business Services—consider what lies ahead for R & I lawyers in 2017—see blog post—Restructuring & Insolvency—looking ahead to 2017.

Rare appellate decision on a very common argument

In what circumstances can a guarantor avoid a call on the guarantee by the lender on the ground of misrepresentation? Joseph Curl, barrister at 9 Stone Buildings, reviews the appellate decision in Gaind v Dunbar Assets plc in which he acted for the lender—see blog post: Rare appellate decision on a very common argument.

Update on the Insolvency (England and Wales) Rules 2016

The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) are due to come into force on 6 April 2017. The team at Lexis®PSL have been busy creating a number of resources to help you understand the new rules which can be found in our new subtopic The Insolvency (England and Wales) Rules 2016—overview. In addition, one of the most significant and immediate impacts of the new rules is that, while Companies House and the Insolvency Service will continue to produce some forms, the format of other notices and documents will no longer be in a prescribed form. LexisNexis is working with leading practitioners from the insolvency profession to produce suggested forms to replace the existing prescribed forms, which we expect to be widely adopted by the industry.

Brexit update

On 24 January 2017, the Supreme Court upheld the High Court’s verdict that the government cannot trigger Article 50, TEU without Parliamentary say-so. In a majority vote of eight votes to

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About the author:
Kathy specialises in restructuring and cross-border insolvency. She qualified as a solicitor in 1995 and has since worked for Weil Gotshal & Manges and Freshfields. Kathy has worked on some of the largest restructuring cases in the last decade, including Worldcom, Parmalat, Enron and Eurotunnel.