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Force India – recording decisions

Insolvency Practitioners are required to keep records of decisions to sufficiently demonstrate the administration of each matter and any decisions made which materially affect the case pursuant to regulation 13 of The Insolvency Practitioners Regulations 2005 (the IP Regs)

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Bulletin

Insolvency – News and Legal Updates, March 2021

In this bulletin, we focus on some interesting legal developments affecting the construction sector - particularly the developing authorities regarding adjudication and set off in both administration and liquidation, and the impact to industry suppliers with the introduction of the VAT reverse charge on construction services.

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article

Re DeepOcean 1 UK Ltd [2021] EWHC 138 (Ch)

This case concerned the first consideration of the use of cross class cram down by the court. The case involved three subsidiary companies within the DeepOcean group that had each proposed a similar restructuring plan with their creditors.

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Bulletin

Insolvency News Bulletin - March 2021

The recently handed-down judgment in Uralkali v Rowley & anor (Re Force India Formula One Team Limited) demonstrates the court's understanding of the task faced by office-holders dealing with a multitude of stakeholders and competing interests, often when time is at a premium.

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article

Re-use of a company name after liquidation

In the current economic climate it is expected that many businesses will be forced into liquidation after the Covid-related financial support is gradually reduced, particularly when the current restrictions on presenting winding-up petitions are lifted.

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article

Force India - IPs' duties to third party bidders in a sales process

The Court has recently been asked to consider the extent to which IPs conducting sales owe duties to bidders and buyers. In Uralkali v Rowley [2020] EWHC 3442 (Ch), a prospective purchaser of the Force India F1 racing team brought claims in negligence against the administrators of the company which owned and operated that racing team, for events relating to the sale and bidding process.

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