Is the CVA the missing piece of the Jigsaw?

The proposal by Jigsaw to put the company into a Creditors Voluntary Arrangement (CVA) has been accepted by its creditors. It seems that Jigsaw has not recovered from the effects of the pandemic and is yet another high street retailer which is using the CVA tool to jettison underperforming stores. Jigsaw will close around 19 […]

Rishi’s Autumn capital gain ….

The UK’s national debt now exceeds £2 trillion.  The ‘eat out to help out’ and furlough schemes have been hugely expensive and the Chancellor is widely expected to increase taxes in the Autumn. Many commentators are expecting increases to Capital Gains Tax and are expecting CGT rates will be raised to the same rate as […]

Bailiffs are back!

After a five month suspension, bailiffs are now allowed out again, however because of the risk of transmission of Covid-19 they are not allowed to shout. Many of the debts they will be chasing are pre Covid and are mostly council tax arrears and parking fines.  Councils are suffering financially because no action has been […]

Welcome Charlotte

We are pleased to welcome Charlotte Hutchinson to the team.  Charlotte joins us straight from the University of Leeds. Charlotte will be looking after the creditors in our cases. Outside of work, Charlotte has a virtual vintage clothes shop and likes to go jogging to keep fit. For more information on bankruptcy, liquidation, administration and […]

Advice for those claiming redundancy pay

During the pandemic the Redundancy Payments Service (RPS) have closed their helpline.  However claims are being processed as normal and the RPS are still contacting claimants with updates. Claims cannot be made until the claimant has been given a ‘CN’ number, which will be provided by the insolvency practitioner.  Claims are made online and will […]

The Corporate Insolvency and Governance Act

Filing Requirements One of the new rules relates to filing requirements.  Companies are required to make several different filings by fixed deadlines at Companies House each year.  Missing the deadline automatically results in a financial penalty.  Companies House has already done all it can under existing law to offer extensions to those deadlines.  Over 70,000 […]

Lean time for lenders?

The Corporate Insolvency and Governance Act 2020 makes some temporary and some permanent changes to UK insolvency law, one of which has the potential to change the way lenders and qualifying charge holders can enforce their security. The new Moratorium gives directors time, without pressure from creditors (including banks), to see if they can rescue […]