When a company is in financial distress, its directors will face difficult choices. Should they trade on to trade out of the company's financial difficulties or should they file for insolvency? If they delay filing and the...more
Silicon Valley Bank (SVB), the US’s 16th largest bank, was closed on Friday 10th March 2023. SVB’s UK operations were conducted through its subsidiary, Silicon Valley Bank UK Limited (SVBUK). ...more
The UK High Court has considered and granted permission for a so called “credit bid” in an application by the Special Administrators of Sova Capital Ltd (in special administration) for a substantial portfolio of illiquid...more
Company directors who act in breach of their statutory and fiduciary duties can face disqualification for up to 15 years pursuant to the Company Directors Disqualification Act 1986 (CDDA). Prior to 15 February 2022, civil...more
The Act introduces two new offences – conduct risking accrued DB benefits and avoidance of employer debt, as explained below. Each offence is punishable by up to seven years' imprisonment and / or an unlimited fine. There are...more
The Pension Schemes Bill [HL] 2019-20 (Bill) was re-introduced before Parliament on 7 January 2020. Among its proposed amendments to the Pensions Act 2004 (Act) are new criminal offences for failing to comply with a...more
1/27/2020
/ Criminal Liability ,
Defined Benefit Plans ,
Employee Benefits ,
Employer Contributions ,
Insolvency ,
Legislative Agendas ,
Moral Hazard Powers ,
Pension Protection Fund (PPF) ,
Pension Schemes ,
Pensions ,
Protection Plans ,
Restructuring ,
Retirement Plan ,
The Pensions Regulator (TPR) ,
UK ,
UK Parliament