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One of the biggest factors that can contribute to a company’s financial difficulty is unpaid trade debts. These can often be the result of a business in your supply chain going insolvent, which is an unfortunate but too familiar result of the current uncertainty. So, what can be done to minimise the risk posed by…
Unfortunately we’re not talking Netflix recommendations here, although some may say that would make for a much more interesting article… Crown preference relates to how business debts are treated on insolvency, which has implications for business rescue at most (if not all) levels of the market, from struggling businesses to lenders. As of 1st December…
As a result of the first national lockdown – imposed in March 2020 – in order to mitigate the spread of COVID-19, many small and medium-sized businesses have seen a significant level of financial loss. This saw an increase in claims for those losses under business interruption insurance policies (“BIIP”). There quickly became widespread concern…
What is an Assignment? An assignment is the transfer of a right from one party to another. A cause of action by which a party may be able to enforce a right is a chose in action and, in principle, is capable of assignment. Generally speaking a cause of action cannot be assigned if that…
A specialist in restructuring and insolvency has returned to the frontline at Thursfields Solicitors to support the expansion of its growing Commercial Litigation department. Lauren Hartigan-Pritchard has been with the firm since 2013 and, following maternity leave in 2019, Thursfields created a business manager role to retain and develop her broad skills. She will now…
The COVID-19 pandemic has caused huge economic damage in the UK and worldwide. This will inevitably lead to more commercial disputes. Why? Because agreements may no longer fit for purpose as they did not contemplate what would happen to rights and obligations in the event of a pandemic. From leases to employment disputes, and from…
The way that insolvency can become a positive outcome for businesses facing financial problems will be discussed at Thursfields Solicitors’ webinar next month. Stephen Rome, a director in the Dispute Resolution department at Thursfields Solicitors, and an expert in contentious insolvency matters, will host the free Talk Legal webinar at 10am on Wednesday 16 September….
The Coronavirus has had a devastating impact on human life and torn through the UK economy as quickly as the Australian bushfires we witnessed earlier in the year. In order to address the impact on the economy the UK government have been quick to rush through two pieces of legislation to provide support to businesses…
The drafting of emergency legislation to soften insolvency rules during and after the COVID-19 lockdown has been cautiously welcomed by a top expert at Thursfields Solicitors. Stephen Rome, a senior associate solicitor in the Dispute Resolution department at Thursfields, was commenting after various reports debating the pros and cons of the forthcoming changes. Business secretary…
Inheritance and probate disputes are still being progressed during Covid-19 with the assistance of online mediation services. Mediation is often used to achieve resolution of disputes. The use of technology (for example, a video conferencing platform such as Zoom) can provide conditions as close as possible to those of a face to face mediation. The…
The Coronavirus (COVID-19) pandemic is of great concern to many businesses as they balance putting contingency plans in place to protect their staff’s wellbeing and also continue to provide their products and services to clients. Thursfields Solicitors is open for business as usual and has the resources and legal expertise to guide you. All of…
A woman who failed to convince a court that her mother’s nominal legacy was invalid is a prime example of why quality evidence is crucial in such cases, according to Thursfields Solicitors. The comments come after Patricia Johnson tried to challenge her mother’s Will after being left just £100, while her brother inherited assets worth…