With recent challenges such as the COVID-19 pandemic, the economic downturn and the costs of living crisis, it's no surprise that the number of corporate insolvencies over the first half of 2023 are in excess of 12,000; the highest in the previous 10 years for this point of the year.
Ward Hadaway recently submitted a detailed response to a Ministry of Justice (MoJ) consultation on the UK’s accession to the Hague Convention 2019, encouraging the Government to sign up as soon as possible.
Income received by a bankrupt individual after the date of the bankruptcy order does not form part of their bankruptcy estate.
The licensed trade has had a tough couple of years. Even well-known high street brands have struggled to survive, and many have disappeared.
After a very long wait for creditors during a difficult economic period, the restrictions placed on Winding Up actions, introduced in response to the Covid-19 pandemic, have expired on 31 March 2022.
With restrictions now eased we are perhaps beginning to see the cost and effect of the pandemic on businesses starting to emerge, with the total number of corporate insolvencies now back at levels similar to those we saw pre-pandemic.
Anyone selling crystal balls over the last couple of years has probably had to give some pretty hefty refunds
During the Covid-19 pandemic there have been several government support measures to help support businesses.
