Posted by Marianne Johns, Senior Associate
There may still be restrictions on forfeiting leases for non-payment of rent, but the courts have said that this is no bar on suing for the money.
Posted by Marianne Johns, Senior Associate
On 4 May 2021, the Government will be launching the Debt Respite Scheme (Breathing Space) in order to grant those with problem debt the right to some protection from creditors. While this is timely in terms of those for whom Covid has seriously impacted their finances, the scheme is actually part of a much wider picture of helping debtors to pay off their creditors under less stress.
Posted by Marianne Johns, Senior Associate
Many businesses are being denied business interruption insurance payments, but are there any other avenues that could be investigated? Could the best place to start actually be how, or where you bought the insurance in the first place?
Posted by Marianne Johns, Senior Associate
In these unprecedented times and with the Government taking action to step in with Banks and other credit institutions as well as Landlords both commercial and residential; you may be left wondering what you can do to get your debts paid?
Posted by Marianne Johns, Senior Associate
The media are reporting that, despite the Christmas buying season, the high street continues to struggle with more and more buying happening online. We have seen big long standing brands like BHS disappear in recent years, others struggling and the rise of the likes of Amazon and associated businesses.
Posted by Marianne Johns, Senior Associate
On 26 August 2018 the Government announced new rescue measures and reforms which will aim to strengthen corporate governance and the insolvency regime for companies in financial distress.
The objective of the new measures is to establish a fairer balance between the rights of a company attempting rescue and the rights of its creditors seeking to be paid for the company’s debts.
Posted by Marianne Johns, Senior Associate
Have you written off any invoices in your accounts in the last 6 years or obtained a Judgment against a debtor and not yet enforced it as there did not appear to be anything to enforce against at the time? Have you looked to see whether your aged debtors financial positions appear to have improved?
Posted by Marianne Johns, Senior Associate
It has been a very active few years with a Valuation Officer arguing all the way to the Supreme Court that a property should not be reassessed for business rates when redevelopment works were being undertaken and preventing occupation, because the property was capable of being put back into the state of repair and occupied position at the material assessment date.
Posted by Marianne Johns, Senior Associate
The Pre-Action Protocol for Debt Claims has now been approved and included into the First Supplement of the 2017 edition of the Civil Procedure Rules. It is due to come into force on 1 October 2017 and will affect how companies recover unpaid debts from individuals. It does not apply to business-to-business debts unless the debtor is a sole trader. Now is a good time to revisit your internal credit control process and terms of business.