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Partner Bankruptcy, Partnership Assets and selling the Family Home

In a recent article we recapped the type of partnerships available and specifically, that of ‘basic partnerships’ governed by the Partnership Act 1890 (the PA Act). In short, it primarily highlighted the stark default position of a partnership being automatically...

Type of partnerships and the effect of bankruptcy on business partners

“Partnership” is a term that, surprisingly, covers a number of different types of partnership relationships governed by law. There is the “basic partnership” governed by the Partnership Act 1890 (“PA 1890”). This type of partnership is not a separate legal entity and...

COVID-19 and Insolvency Legal Advice

As you will be aware over the last few months, the Government has introduced a number of schemes and incentives in order to assist individuals and businesses during the COVID-19 pandemic. Some of these measures include: The Coronavirus Job Retention Scheme where small...

Wrongful Trading, Director’s Duties and, of course, COVID-19

COVID-19. The country faces total lockdown, whilst the world’s health care services desperately try to reduce the tragic effects of the coronavirus pandemic in December 2019. By now, there are ample free resources and materials being made available to help businesses...

Thomas Cook – what now?

On 23 September 2019, Thomas Cook Group PLC and associated companies were placed into insolvent liquidation. As with all insolvent liquidations upon the granting of the winding up order, the Official Receiver was appointed as the Liquidator to commence the...

The Pitfalls of Personal Guarantees in Insolvency Proceedings

Bimal Kotecha highlights matters to consider before enforcing a personal guarantee in insolvency proceedings. Our Insolvency team is regularly instructed to pursue and defend bankruptcy proceedings arising from written personal guarantees given by individuals. Most...