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Restructuring & Insolvency weekly highlights—14 May 2020

Restructuring & Insolvency weekly highlights—14 May 2020
Published on: 14 May 2020
Published by: LexisPSL
  • Restructuring & Insolvency weekly highlights—14 May 2020
  • In this issue:
  • New weekly highlights
  • Coronavirus (COVID-19)
  • Court of Appeal confirms that employment contracts of employees furloughed prior to the commencement of administration are adopted by administrators if they keep the employees furloughed (Re Debenhams Retail Ltd)
  • Coronavirus does not justify restraining a winding-up petition (Re Saint Benedict’s Land Trust Ltd; Re Shorts Gardens LLP)
  • Flexible approach taken by Court under Remote Hearings Protocol coronavirus (Re Smith Technologies Ltd (in liquidation)—Abdulali v Pearson)
  • New protocol for making and administering statutory declarations in insolvency proceedings by video conference
  • High Court allows virtual scheme meeting to be held (Re Castle Trust Direct plc)
  • Is rent an ‘administration expense’ during coronavirus lockdown?
  • More...

Article summary

This week’s edition of Restructuring & Insolvency weekly highlights focuses on legal, market and government responses to the coronavirus (COVID-19) pandemic, including analysis of the Court of Appeal’s decision on the government’s Job Retention Scheme in the Debenhams administration and the legal reforms being introduced by other jurisdictions to facilitate corporate rescue. We also look at the court’s approach to remote creditors’ meetings in a scheme of arrangement (Re Castle Trust Direct Plc), plus a round-up of other news and cases for restructuring and insolvency professionals. or take a trial to read the full analysis.

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