LEXLAW Solicitors & Barristers
The Respondent to an application to set aside a statutory demand must bear the costs of the application, even if they withdrew the demand shortly after the application was filed.
The FCA is set to recommend a compensation scheme for businesses harmed by RBS’s Global Restructuring Group (GRG), according to an upcoming report. While the GRG Review may be quicker than litigation, it is criticised for being unfair and limiting compensation. Victims are advised to consider parallel litigation, which is designed to ensure a fair outcome. GRG, a troubled business support unit within RBS, controlled assets of 16,000 SMEs before being disbanded in 2014 following misfeasance allegations.
Directors disqualified for 18 years under the Company Directors Disqualification Act 1986 for selling but failing to deliver event tickets while continuing to trade insolvently. Lexlaw offers specialist legal defence for directors facing disqualification and guidance on court applications to act despite disqualification.
LEXLAW’s M Ali Akram was featured on Sky News discussing the Comet Group Limited administration. He highlighted concerns over potential unfair outcomes in the liquidation process. As experts in insolvency law, Lexlaw offers professional guidance and representation for businesses and individuals affected by company administrations and liquidations. Contact Lexlaw for specialist insolvency advice.
Sky News interviewed our Insolvency Team’s senior partner on the Comet Group collapse into administration. The administrators’ proposals revealed that while secured creditors were set to recover only about a third of their debts, unsecured creditors—including HMRC, employees, and customers—would receive less than 1p in the pound.
The early advertisement of winding-up petitions can be a serious abuse of process, potentially causing unjust harm to businesses before legal matters are resolved. We provide expert guidance and representation to protect clients from these premature actions. We focus on securing fair treatment and safeguarding your business’s reputation. Contact us today for professional support.