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.
Continue Reading Temporary Suspension of UK Wrongful Trading Laws – the Exclusions

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).
Continue Reading UK Corp Insolvency and Governance Bill

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.
Continue Reading KWM’s UK Dispute Resolution Round-Up – Q2

By Vanessa Docherty King & Wood Mallesons’London office.

The Criminal Finances Act (“CFA”) 2017 comes into effect on 30 September 2017.  The CFA introduces two new offences which could affect any company with links to the UK.
What are the offences?
Failure to prevent” the facilitation of UK tax evasion, in the UK; and “failure to prevent” facilitation of foreign tax evasion overseas.
Continue Reading Impact of Criminal Finances Act 2017(2nd draft)

By Simon Holmes and Naomi Inns, King & Wood Mallesons’ London Office

Oholmes_sn 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.”
Continue Reading Busting the brexit myths