UK Founder Series: Insolvency and Considerations for Directors and Investor Representatives | Orrick, Herrington & Sutcliffe LLP

Bankruptcy

Orrick’s Founder Series offers monthly top tips for UK startups on key considerations at each stage of their lifecycle, from incorporating a company through to possible exit strategies. The Series is written by members of our market-leading London Technology Companies Group (TCG) team, with valued contributions from practitioners across Orrick’s recognised practice areas. Our Band…

Morarjee Textiles Continues Insolvency Resolution Efforts

Bankruptcy

Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Morarjee Textiles Limited ( (IN:MORARJEE) ) just unveiled an update. Morarjee Textiles Limited has announced the holding of its Twenty Eighth Meeting of the Committee of Creditors…

Evidence Is Everything: Strike Out Application Dismissed As “Hopeless And Speculative” In The Insolvency And Companies Court – A Company -v- Visionary Future LLC & Ors. – Arbitration & Dispute Resolution

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The Insolvency and Companies Court, in A Company -v- Visionary Future LLC & ors. (unreported), has dismissed an application by a company seeking to strike out, or alternatively restrain advertisement of, a winding-up petition brought by creditors. The judgment underlines the critical importance of providing proper and substantiated evidence in insolvency proceedings. Lewis Silkin acted…

More than two thirds of Carillion businesses unable to pay creditors seven years on from collapse

Bankruptcy

Carillion collapsed in January 2018 owing close to £7 billion, with only £29 million in cash. The company’s insolvency sent shockwaves through the industry, impacting more than 30,000 suppliers and subcontractors, and led to significant government and public sector projects – around 450 construction and service contracts – being thrown into uncertainty. At the time,…