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This month’s highlights include a discussion on the decline of BHS, Brexit, government proposals to boost the insolvency regime and more, plus a round up of other interesting cases and developments
Why has BHS recently fallen into administration? Mark Smith and Nick Moser, partners with Taylor Wessing LLP, examine the causes and effects of BHS’s recent decline. For further details, see News Analysis: The decline and fall of British Home Stores.
SI 2016/550: The remaining provisions of the Third Parties (Rights against Insurers) Act 2010 (TP(RAI)A 2010), which are not already in force, will be commenced on 1 August 2016.
R3 is recommending a 21-day moratorium, during which creditors will be prevented from taking any action to recover their debts to allow directors of struggling companies time to make considered decisions about their company’s future when facing insolvency.
For further details, see News Analysis: R3 proposals moratorium.
The Bankruptcy (Scotland) Bill (Session 2015-16) received royal assent on 28 April 2016 as the Bankruptcy (Scotland) Act 2016 (asp 21). The Bill was introduced for an Act of the Scottish Parliament to consolidate the Bankruptcy (Scotland) Act 1985, the Bankruptcy (Scotland) Act 1993, Part 1 of the Bankruptcy and Diligence etc. (Scotland) Act 2007, Part 2 of the Home Owner and Debtor Protection (Scotland) Act 2010, the Bankruptcy and Debt Advice (Scotland) Act 2014, the Protected Trust Deeds (Scotland) Regulations 2013 and related enactments.
LSREF III Wight Ltd v Gateley LLP  EWCA Civ 359,  All ER (D) 145 (Apr)
The Court of Appeal has handed down judgment in LSREF III Wight Ltd v Gateley LLP, a case which concerned a forfeiture clause
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