As one element of a package of measures intended to assist UK businesses with coping with economic difficulties brought about by the coronavirus pandemic, the UK government will temporarily suspend wrongful trading laws. The proposal to temporarily suspend wrongful trading laws is set out in the Corporate Insolvency and Governance Bill (the ‘Bill’), which is currently going through the UK parliament’s legislative process and is expected to be passed into law imminently. The suspension is set to commence from 1 March 2020 and will end 30 days following the Bill coming into force.
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UK Corp Insolvency and Governance Bill
In an effort to alleviate the impact of COVID-19 on UK businesses and encourage the supply of essential goods and services during the pandemic, the UK Government announced plans earlier this year to temporarily suspend wrongful trading laws and to fast track proposed permanent reforms to the existing insolvency regime (these reforms were developed in 2016 and consulted on in 2018).
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KWM’s UK Dispute Resolution Round-Up – Q2
Q2 2019: missed the key litigation news of the last quarter? Fear not as all you need to know is here, from jurisdiction to service, as massive class actions and parental liability suits stand pending in the English Courts, UWOs turn out to have multiple use cases and arbitration awards continue to be hard to challenge.
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Impact of Criminal Finances Act 2017(2nd draft)
By Vanessa Docherty King & Wood Mallesons’London office.
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Britain votes to leave the EU – what next for Private Equity?
By King & Wood Mallesons
By an almost four percentage point margin, the British people have voted to leave the European Union, and the Prime Minister has announced that he will stand down in October. Market uncertainty will now make the UK a very challenging environment for investors for some time – although no doubt…
Britain votes to leave the EU – implications for your business
By King & Wood Mallesons
On Thursday June 23rd, a majority of the British electorate voted in favour of leaving the European Union, setting the country on an entirely new course for the next generation.
It is important to remember, of course, that overnight, nothing has changed: EU law continues to apply, as do UK…
Busting the brexit myths
By Simon Holmes and Naomi Inns, King & Wood Mallesons’ London Office
On 23 June 2016, the UK will hold a referendum on its continued membership in the European Union (EU).The result will have significant implications for both UK businesses and businesses operating in the UK.
UK business leaders – alongside politicians – have been fiercely debating their ‘Stay’ or ‘Leave’ positions. In this article we explore one of the key arguments of the ‘Leave’ campaign (Brexit), namely that Brexit will be good for businesses because it will reduce red tape regulation.
Brexit may not reduce red tape to the benefit of businesses
In addition to the official Leave Campaign, there are a number of independent campaigns calling for Brexit, including Business for Britain which argues that:
“Free from unnecessary, restrictive and financially punitive regulation, able to make our own trade arrangements and to better invest our wasted EU “tax”, Britain will be the best place in the world to do business.”
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Major changes to UK company law – the Register of People with Significant Control
By Michael Goldberg David Parkes King & Wood Mallesons’ London Office
The Small Business, Enterprise and Employment Act 2015 makes major changes to UK company law on 6 April. The new rules are aimed at achieving transparency of the beneficial owners and controllers of UK companies, and form part of wider international initiatives…