Tag: bankruptcy
Insolvency continues to be a worry for companies and individuals
The demise of Thomas Cook was a reminder that businesses and individuals are still finding the current economic situation difficult. The latest figures from The Insolvency Service, show that 4,321 companies entered insolvency between April and June 2019, a 2.6% increase on the first quarter of the year and in percentage terms the figure is... Read more »
Court of Appeal confirms test to be applied when looking to set aside transactions defrauding creditors
When an individual or a company enters into a transaction at an undervalue the Insolvency Act 1986 has provisions (sections 238 and 339) which allow an officeholder, whether they be a trustee in bankruptcy of individual or a liquidator to the company, to overturn those transactions. In relation to the company the transaction must be... Read more »