Purnells News & Blog

Pre-Pack Reforms

Pre-Pack Reforms

The Government has recently announced that new reforms are to be made in respect of pre-packaged sale agreements in Administrations, which are often called “Pre-Packs”.

Posted: 23/11/2020

The R3 Standard Form for COVID-19 Company Voluntary Arrangements (“CVA’s”)

The R3 Standard Form for COVID-19 Company Voluntary Arrangements (“CVA’s”)

The Association of Business Recovery Professionals (“R3”) has recently released a standard form for a Covid-19 Company Voluntary Arrangement (“CVA”) Proposal together with a set of accompanying Covid-19 Standard Conditions.

Posted: 17/11/2020

Coronavirus (COVID-19) Guidance for Protocol IVA’s

Coronavirus (COVID-19) Guidance for Protocol IVA’s

The Government has recently released guidance on how Individual Voluntary Arrangements (“IVA's”) should be handled during the Coronavirus (COVID-19) pandemic so as to provide options to consumers who are struggling to adhere to the terms of their arrangements.

Posted: 28/09/2020

Finance Act 2020

Finance Act 2020

With so many more important things going on with the Coronavirus Pandemic it may have been missed that the Finance Act 2020 received Royal Assent on 22 July 2020.

Posted: 07/09/2020

HMRC Releases New Guidance on Tax Debts

HMRC Releases New Guidance on Tax Debts

On the 13 August 2020 HMRC issued new guidance on how they treat customers with a tax debt...

Posted: 28/08/2020

New Insolvency Moratorium Procedure

New Insolvency Moratorium Procedure

The purpose of this blog is to give a brief overview of the new Moratorium procedure.

Posted: 03/07/2020

New Procedures & Measures are Coming...

New Procedures & Measures are Coming...

The Corporate Insolvency and Governance Act 2020 received Royal Assent last night and came into force at midnight.

Posted: 26/06/2020

The Impact of the Coronavirus on Insolvency

The Impact of the Coronavirus on Insolvency

We are currently living and working in unprecedented times with the nationwide lockdown and the financial impact of the Coronavirus still developing.

So much is happening, so quickly, that it is hard to keep up, particularly if you are having to advise clients on the impact of the Coronavirus and the options open to them and their business.

Accordingly, I am going to give a brief overview of a few of the issues in this blog.

Posted: 27/03/2020

First Compensation Order

First Compensation Order

In 2015 the Government brought in new legislation to enable The Insolvency Service to seek Compensation Orders against directors of insolvent companies who have been disqualified as acting as a director, and whose conduct has caused a loss to one or more creditors.

Posted: 19/02/2020

Directors Duties Can Survive Insolvency

Directors Duties Can Survive Insolvency

A few weeks ago the Courts handed down Judgment in Systems Building Services Group Limited [2020] EWHC 54 (Ch), which may have long reaching consequences for the Insolvency Profession, and also directors.

Posted: 03/02/2020

The Insolvency Corporate Governance Consultation

The Insolvency Corporate Governance Consultation

The Government are looking to make some reforms to the Insolvency Legislation and within the Government’s Insolvency Corporate Governance Consultation two new insolvency procedures were proposed which will provide directors and Insolvency Practitioners with more options.

Posted: 10/12/2019

Making a Difference in the Local Community

Making a Difference in the Local Community

Purnells are pleased to announce that we are working with Dorchester Youth and Community Centre.

Posted: 28/10/2019