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A Multifaceted Maze: The FCA's Role and Powers in Distressed Situations

United Kingdom - March 12 2021 The last five years have seen a substantial increase in the number and variety of regulated firms operating in the United Kingdom, with the…

Alexandra Lofthouse, Adam R. Brown, Ben Larkin, Aidan Lawes, Harriet Territt

Administration Sales to Be Subject to Further Scrutiny in the United Kingdom

United Kingdom - February 5 2021 Pre-pack sales have long been criticized by certain stakeholders for allowing the Phoenix to rise from the ashes having shed its liabilities. However…

David Harding, Ben Larkin

Restoration of Crown Preference and Erosion of the English Floating Charge

United Kingdom - February 4 2021 With effect from December 1, 2020, Her Majesty's Revenue and Customs ("HMRC") ranks ahead of floating charge holders and unsecured creditors with…

Stanzi Rosenthal, Anthony Whall

Restoration of Crown Preference and Erosion of the English Floating Charge

United Kingdom - December 5 2020 The Finance Act 2020, which received Royal Assent on 22 July 2020, has established that with effect from 1 December 2020, HMRC benefits from ranking…

Anthony Whall

Administration Sales to Be Subject to Further Scrutiny in the United Kingdom

United Kingdom - November 25 2020 The UK government has published draft regulations providing that sales by administrators to connected persons will be subject to compulsory scrutiny…

David Harding, Ben Larkin