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Perspective - Blog
Choppy waters ahead? The significance of Oceanfill
The economic outlook for the UK in 2023 remains uncertain, and more companies may need to restructure their businesses to ensure survival. This
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Perspective - Blog
Property Digital Rights – A New Revenue Stream in a Digital World
Advances in technology are opening up exciting new frontiers for property owners and managers. Almost two billion people globally use augmented reality (AR) on their mobile phones and nearly 400 million engage in a virtual metaverse reality.
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Perspective - Snapshot
Snapshots Spring 2024
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Winter 2023
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Autumn 2023
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Summer 2023
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Spring 2023
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Winter 2022
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Blog
Against a Backdrop of Rising Corporate Insolvencies HMRC Joint and Several Liability Notices: Should Directors be Concerned?
It is widely anticipated that the next twelve months could be a challenging period for many businesses in the UK and that there could be a significant rise in the number of companies in financial distress.
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Perspective - Blog
Silicon Valley, Signature and Credit Suisse: what do they all share(holder) in common?
In what has been termed "the biggest banking crisis since 2008", both Silicon Valley Bank (SVB) and Signature Bank have collapsed, and Credit Suisse has been rescued. Whether more banks are to follow suit is yet to be seen.
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Perspective - Blog
BTI 2014 LLC v Sequana SA and others – Supreme Court decision
The Judgment of the Supreme Court in BTI 2014 LLC v Sequana SA was handed down on 5 October 2022.
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Perspective - Publication
Corporate bankruptcy and insolvency litigation roundtable
The corporate bankruptcy & insolvency litigation landscape has experienced a turbulent period over the past year and a half, largely a consequence of the extreme circumstances created by the COVID-19 pandemic. Against this backdrop, many businesses have sought arrangements and restructuring plans in an attempt to avoid corporate bankruptcy. However, as government COVID-19-related stimulus is withdrawn and the true financial impact of the pandemic becomes clear, the focus turns to which businesses will remain in crisis or fold, and which are able to restructure and survive. As the battle lines are drawn, disputes are sure to rise.
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Perspective - Publication
What are the latest trends in bankruptcy and restructuring? What developments can we expect to see?
The pandemic led to the biggest change to insolvency legislation in the UK for over 20 years.
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Perspective - Publication
The UK's new restructuring plan
The UK has introduced the Restructuring Plan; a new, flexible court supervised restructuring tool. The Restructuring Plan draws upon features of the existing Companies Act 2006 scheme of arrangement procedure (which remains available) but includes features which are new to the UK but similar to those under U.S. Chapter 11 bankruptcy proceedings.
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Perspective - Blog
Carluccio's serves up a rescue recipe
On Friday 24 April, RPC hosted a 30 minute webinar on the interaction of furloughing and insolvency law.
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Perspective - Blog
COVID-19: the supply chain
Concerns regarding the strength of UK supply chains and the consequences which arise when links in the chain fail, are not new and were recently subject to significant scrutiny in the context of Brexit negotiations. But with COVID-19 causing a host of new problems for already stressed supply chains, what can businesses do to protect themselves?
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Perspective - Blog
COVID-19: Good news on wrongful trading provisions but why should directors tread carefully?
The Government has launched a number of initiatives to assist companies and businesses to trade through the current financial stress. But what should directors still be aware of as they steer their organisations through these unprecedented times?
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Perspective - Blog
COVID-19: The suspension of wrongful trading provisions and a moratorium for businesses in restructuring – what is the likely impact on your business?
COVID-19: On 28 March 2020 the Business Secretary announced further new far-reaching measures to help businesses combat the financial impact of COVID-19. What it the likely impact of the suspension of wrongful trading provisions and a moratorium for businesses in restructuring on your business?
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Perspective - Publication
Restructuring and Insolvency roundup January 2018
In this roundup, we look at crowdfunding, a sector which continues to be of interest to practitioners giving the changing regulatory landscape and the risk to investors. Other cases we look at include cover privilege in bankruptcy, the adequacy of ATE policies, and the requirement for boards to be quorate when directors appoint administrators.
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Perspective - Publication
Restructuring and insolvency roundup, July 2017
In this roundup, we consider four recent cases with implications for practitioners in the restructuring and insolvency sector.
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Perspective - Publication
“Gagging orders”: an office holder’s secret weapon
Practitioners are fully aware of the extensive powers available under ss 235 and 236 of the Insolvency Act 1986 (IA 1986) allowing administrators and liquidators as office holders (OHs) to require individuals and organisations to disgorge information.
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Perspective - Publication
Make insolvency great again
One of the great criticisms of the new President of the United States of America is that his companies filed for bankruptcy four times when he was a business mogul.
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Perspective - Publication
Legislative changes in effect today: what IPs need to know
Previously under section 165 IA 86, liquidators in a voluntary winding up would have to seek sanction of the company (in members’ voluntary liquidation) or of the court or liquidation committee (in creditors’ voluntary liquidation) in order to exercise their powers to pay debts, compromise claims etc.
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Profile
Perspective - Blog
A matter of interpretation – the Supreme Court look at contractual interpretation once more
In their recent Judgment in Sara & Hossein Asset Holdings Ltd (a company incorporated in the British Virgin Islands) v Blacks Outdoor Retails Ltd [2023] UKSC 2 the Supreme Court adopted a commercially balanced interpretation of a lease; rejecting the overly textual approach of the Court of Appeal in favour of reading the relevant clause in the context of the lease as a whole.
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Press and Media
Whistle-blowing on illegal cartels drops 70% in 5 years
Competition and Markets Authority (CMA) recently increased award to £250,000 Calls to the CMA hotline have plummeted from 1,442 in 2017 to 427 in 2022
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Perspective - Blog
No bouncing back for directors
Banned! Fraudsters! – Terms used by the Insolvency Service for directors who abused the government backed loan scheme which was put in place to help businesses struggling during the pandemic.
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Perspective - Publication
All is not (necessarily) lost: Crypto crime recovery
With over 2 million people in the UK now holding and using cryptocurrency, and the Chancellor announcing that a government backed non-fungible token ("NFT") is to be issued by the Royal Mint this summer, the market for crypto-assets is expected to continue to grow in the coming months and years; so much so that legislation is planned to implement a new regulatory regime for the crypto market.
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Perspective - Publication
Lawyers Covered - June 2024
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to the March edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
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Perspective - Blog
Compulsory mediation in small claims: a quick guide for the busy lawyer
A new pilot scheme requiring parties in money claims valued at up to £10,000 to take part in a compulsory free one-hour mediation appointment, provided by HMCTS' Small Claims Mediation Service – before the claim can then proceed to Court if no settlement is reached.
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Perspective - Publication
Lawyers Covered - May 2024
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to the May edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
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Perspective - Publication
Money Covered: The Week That Was – 10 May
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
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Perspective - Publication
Money Covered: The Week That Was – 3 May
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
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Perspective - Publication
Lawyers Covered - April 2024
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to the March edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
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Perspective - Publication
Money Covered: The Week That Was – 26 April
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
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Perspective - Publication
Money Covered: The Week that Was - 19 April
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
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Perspective - Publication
PLC QTRLY - Q1 2024
This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.
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Perspective - Publication
Lawyers Covered - March 2024
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to the March edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
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Perspective - Publication
Lawyers Covered - February 2024
Lawyers continue to face a wide range of challenges, and we are here to help guide you through them. So, welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.
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Perspective - Blog
Fixing up the rules: changes to the fixed recoverable costs regime coming soon to a White Book near you!
Practitioners are eagerly awaiting the first decisions to see how the Court deals with tricky issues such as the effect of the transitional provisions and assignment of a complexity band. In the meantime, the Civil Procedure Rules Committee and the Ministry of Justice have been busy refining the rules and the 163rd update to the Civil Procedure Rules has been published. We've read it all so that you don't have to and explain below what's new in the world of FRC.
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Perspective - Blog
Vehicle finance – FOS driving review forward, but is anyone behind the wheel?
In this article, David Allinson, Partner at RPC, has teamed up with Alex Barry, Claims Director at Collegiate Management Services Ltd, to consider a recent Financial Ombudsman Service decision concerning discretionary commission arrangements and vehicle finance loans. FOS has now published a small number of Final Decisions on this topic, which have been picked up by Martin Lewis (MoneySavingExpert.com) and the FCA, and could have wide-ranging consequences for a number of different professions and their insurers.
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Perspective - Publication
PLC QTRLY - Q4 2023
This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.
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Perspective - Publication
Lawyers Covered - January 2024
We hope 2024 has started well for all of you. A new year but some things remain constant - lawyers continue to face a wide range of challenges, and we are here to help guide you through them. So, welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.
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Perspective - Publication
Lawyers Covered - December 2023
What could be more festive than our December edition of Lawyers Covered – so here it is, a gift from the Lawyers Liability and Regulatory Group at RPC, to all of you, our lovely readers! If you have any feedback or ideas for topics that you would like us to cover in the newsletter or in our seminars, please let us know. Happy holidays!
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Perspective - Publication
Lawyers Covered - November 2023
Welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.
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Perspective - Blog
Severe consequences: severance of success fee provisions in a CFA not allowed
In Diag Human v Volterra Fietta [2023] EWCA Civ 1107 , the Court of Appeal held that a firm of solicitors that had entered into an unenforceable conditional fee agreement (CFA) could not obtain payment by severing the offending terms of the agreement and nor was payment on a quantum meruit basis permitted for public policy reasons. The consequence of this was that their clients were entitled to the return of sums paid on account.
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Perspective - Blog
Navigating professional risks and opportunities facing the legal profession in an ever-changing legal and commercial landscape
The legal profession is undergoing significant changes, driven by a range of challenges and opportunities. In recent years, the legal landscape has experienced a period of transformation, marked by unforeseen challenges and emerging horizons. This transformation has been propelled by factors such as the COVID-19 pandemic, evolving regulations, the increasing prominence of environmental, social, and governance (ESG) issues, and the growing role of artificial intelligence (AI). In this article, we examine the risks that lawyers face due to these factors, including the Solicitors Regulation Authority (SRA) focus on addressing toxic workplaces and sexual misconduct, cultural shifts, and the implications of AI.
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Perspective - Blog
Key considerations crime and D&O insurers cannot a-fraud to ignore
The UK government is committed to reforming corporate criminal liability and making it "quicker and easier" to prosecute companies involved in fraudulent conduct. These reforms will no doubt be welcomed by many where the nature and scale of fraud in the UK has evolved significantly and now constitutes more than 40% of all offences in England and Wales. However, it will inevitably have an impact on insurers, especially the D&O insurance market.
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Perspective - Publication
Lawyers Covered - October 2023
Welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.
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