Category Archives: news
Beware-Buying an Insolvent Business
As always, one man’s loss is another man’s gain. In the coming months there will be an increasing number of insolvent businesses up for sale at knock- down prices. If you have the funds to buy and the business fits … Continue reading
Posted in news
Comments Off on Beware-Buying an Insolvent Business
EAT- Prepack dismissal-Who picks up the liabilities ?
Important news for those buying a business out of “pre-pack” administration. The Employment Appeal Tribunal (EAT) in Pressure Coolers v. Molloy & others has clarified that where the purchaser of such a business dismisses employees that transfer under the Transfer of … Continue reading
Posted in news, Uncategorized
Comments Off on EAT- Prepack dismissal-Who picks up the liabilities ?
TUPE-Always transfers liabilities in Administration
The Transfer of Undertaking (Protection of Employment) Regulations 2006 (“TUPE 2006”) are designed to protect employees where a business (or part of it) is being sold or otherwise transferred to another business. Regulations 4 and 7 of TUPE 2006 have … Continue reading
Posted in news, Uncategorized
Comments Off on TUPE-Always transfers liabilities in Administration
Validity of Administrators Appointment
In the recent case of Minmar (929) Limited and Teejinder Paul Chohan v Freddy Khalatschi and Martin John Atkins [2011] EWHC 1159 (Ch), a director of Minmar applied to the High Court of Justice Chancery Division for an order setting aside … Continue reading
Posted in news, Uncategorized
Comments Off on Validity of Administrators Appointment
Uneven UK Recovery
Recovery unevenly spread in UK, says Centre for Cities Economic recovery will be “unevenly spread” across the country with some cities needing extra government help to create jobs, a study has suggested. Research group Centre for Cities said places such … Continue reading
Posted in news
Comments Off on Uneven UK Recovery
Corporate Insolvencies Set to rise in 2011
More UK firms are experiencing serious financial difficulties than at any time in almost two years, research suggests. Almost 148,000 firms had serious problems in the final three months of last year, the first year-on-year rise in the past seven … Continue reading
Posted in news
Comments Off on Corporate Insolvencies Set to rise in 2011