John Houghton, Partha Pal, Ian Bean and Matthew Finnie of Greenberg Traurig review the questions the English High Court had to consider in deciding...
The Reading List is a curation of recent UK insolvency-focused articles, plus some additional content. It is meant to complement our Monday emails that highlight recent insolvency filings/news. If you like what you read, consider forwarding it to spread the word. Not getting our emails regularly? Click here to subscribe!
John Houghton, Partha Pal, IanBean and Matthew Finnie of GreenbergTraurig review the questions the English High Court had to consider in deciding whether to appoint Teneo as administrators of the London arm of Russia's VTB Bank, noting that the answers to these questions are illuminating for insolvency professionals seeking to act in other cases involving sanctioned Russian entities and who are likely to be grappling with the question as to whether they can provide advice and ‘insolvency services’ in such circumstances without a licence from the sanctions authorities in An unusual case in all sorts of ways.
Jon Chesman of Squire Patton Boggs shares what he has learned after one year of completing connected party sales under the new regulations, noting that one of the most ‘challenging’ aspects of the new regulations is deciding when to engage an evaluator, as the evaluator has to be engaged sufficiently in advance of the intended completion date for the sale in order to obtain the report ahead of completion, but not too early to risk having to commission another report if the terms of the deal change in Evaluating the Evaluation Process for UK Connected Party Sales – One Year On.
Maria Staiano-Kolaitis and Adi Jain of Ashurst predict that as the energy crisis continues, Ofgem may be left with no choice but to appoint publicly-funded special administrators to ensure supply continues if any other large (or potentially even mid-size) supplier fails, as there may not be any existing suppliers capable of taking on new customers through a Supplier of Last Resort transfer in Counting the cost of the energy crisis.
Nick Nicholson has joined GrantThornton as a partner in the firm's insolvency and asset recovery practice. Nick was previously with Haslers.
Joe Colley has been promoted to partner in the Corporate Recovery & Insolvency group of CWB in London. Read more.
FrancesCoulson has been appointed to the board of the InsolvencyService. Frances is the Head of Insolvency & Restructuring for city-based law firm WedlakeBell. Together with the other non-executive board members, Frances will work closely with the Insolvency Service’s senior leadership team to provide strategic leadership and governance for the agency. Read more.
Matthew Padian has been promoted to partner at Stevens & Bolton. Matthew advises companies, insolvency practitioners, lenders and individuals in relation to loan facilities, corporate reorganisations, debt restructurings, distressed and non-distressed business acquisitions and disposals, as well as insolvency matters. Read more.
Dylan Quail has joined the Corporate Recoveries and Insolvencies team of Primas as a consultant. Dylan joins Primas from Hanover Insolvency, and was previously a partner at BegbiesTraynor, with over 20 years’ experience as a solicitor. Dylan’s work encompasses all aspects of insolvency work with a strong emphasis on transactional work. His experience as an Insolvency Practitioner in both independent and national practices brings a unique perspective to his work. Read more.
Andrew Bowden-Brown has joined the dispute resolution and litigation practice of Shoosmiths in London. Andrew's experience encompasses advising banks, asset-based lenders and other financial institutions on security and enforcement issues arising out of facility and security documentation. These issues range from complex multi-jurisdictional fraud claims to debt recovery matters, claims against sureties, loss mitigation and actions by current or former clients against a financier, as well as contentious and non-contentious insolvency and asset recovery and tracing claims. Andrew was previously with Francis Wilks & Jones. Read more.
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