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Directors may fear new legislation 2021 following Covid

Rogue directors will find themselves in the firing line if and when The Rating (COVID-19) and Directors Disqualification (Dissolved Companies) Bill, which is currently making its way through parliament, comes into force. The proposed bill will enable the investigation and potential disqualification of directors of dissolved companies, and responds in particular to concerns around COVID-related […]

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My Latest customer review

Hi there This afternoon I’ve had letters from one person explaining my car is exempt from my bankruptcy and another from a different person with all the copies of the letters to my bank accounts. The letter to Santander advises that I can still use my account. I’ve tried to phone Santander myself without success. […]

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Personal Insolvency 2021

After a period of significant inactivity as a result of the various temporary measures introduced during the pandemic, we are now approaching an insolvency cliff edge in the UK. Senior restructuring and insolvency lawyers from TLT’s Scottish, Northern Irish and English offices discuss: The factors that may influence when and why we might see personal […]

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Breathing Space 4th May 2021

Suffering with mental health problems and being in financial difficulty are often strongly linked, with one frequently causing or worsening the other. The introduction of The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 (referred to in this article as the ‘debt respite regulations’), which, with very […]

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Breathing Space

The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020, which will come into force on 4 May 2021, will provide individuals with the opportunity to obtain legal protection from creditors in the form of either a breathing space moratorium or a mental health crisis moratorium. Given the […]

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Covid Insolvency Figures remain low due to Government measures

The UK’s latest quarterly company insolvency statistics, published on 30 April, show that insolvency rates remain significantly below pre-pandemic levels, demonstrating the continued success of Government measures in preventing a COVID-19 related wave of insolvencies. The Q1 2021 data shows that the trends from Q4 2020 continue, with the overall number of registered company insolvencies in […]

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Bankruptcy Fees Scotland

Last year, temporary changes to the bankruptcy process were brought in by the Scottish Government, to help individuals financially impacted by the pandemic. Scottish ministers have now introduced the Bankruptcy (Miscellaneous amendments) (Scotland) Regulations 2021, to make some of those changes permanent. The main purpose of these measures is to improve access to minimal asset […]

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