Apcoa’s cross-border, contested, Schemes of Arrangement sanctioned by the English High Court | Druces LLP

Legal Briefing

In April 2014, the pan-European car park operator, Apcoa, obtained the sanction of the High Court in England to a set of schemes of Arrangement under Part 26 of the Companies Act1. With the group’s finances under pressure, this step was taken purely in order to extend the term of its loan facilities. In September, …

Buying businesses from administrators: now is the time to prepare | Druces LLP

Legal Briefing

As daily news heralds the emergence of the British economy from the worst recession since the 1930s it may seem a strange time to suggest that companies should consider acquiring businesses from companies which go into an insolvency process. However, looking back at past recessions shows that, apart from a spike of insolvencies when the …

Court of Appeal clarifies application of TUPE in administration proceedings | Druces LLP

Legal Briefing

An important decision of the Court of Appeal in November 2013 has overturned the decision of the Employment Appeal Tribunal in the case of employees made redundant by the administrator of a football club prior to its sale. The decision is relevant to purchasers of business and assets from companies in administration. The club was …

The EC Commission’s proposal for changes to the EC regulation on insolvency proceedings | Druces LLP

Legal Briefing

The EC regulation on insolvency proceedings1 (the Regulation) was introduced as a directive taking effect in the laws of member states of the European Union, without the need for member states to pass any local law of implementation. It has been part of EU law and the law of the United Kingdom since 31 May …

Winding up petitions: the sharpest debt recovery tool in the box? | Druces LLP

Legal Briefing

As economic pressures continue to affect corporate Britain, companies are imposing their own austerity measures. As suppliers of goods and services, companies want to receive payment as soon as it is due, either in accordance with payment terms set out in their terms of business or within a reasonable time. On the other hand, as …