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United Kingdom

Restructuring and Insolvency: ECCTA guidance; Wealthtek IBSA distribution; Cine-UK Part 26A plans; de facto director liability; Wirecard v Greybull; fraudulent trading freezing order; constructive trusts/minors (England and Wales)

Published on: 10 October 2024

Published by a LexisNexis Restructuring & Insolvency expert
Legal News
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Article summary

In this issue:

  • Key R&I law developments
  • Corporate insolvency processes
  • Personal Insolvency
  • Restructuring
  • Insolvency litigation
  • Daily and weekly news alerts
  • New content

Key R&I law developments

Home Office publishes guidance on Economic Crime and Corporate Transparency Act

The Home Office has issued guidance covering the information-sharing powers under the Economic Crime and Corporate Transparency Act 2023. It explains the rules designed to secure business compliance and outlines practical points for firms, such as routes for cross-sector data sharing, obligations around reporting to law enforcement, adherence to the UK General Data Protection Regulation, and avenues for customer redress. See: LNB News 04/10/2024 39.

Corporate insolvency processes

Judgment alert: Re Wealthtek LLP (in special administration) [2024] EWHC 2520 (Ch)

The court may sanction a distribution plan that departs from clients’ strict proprietary entitlements in client assets, so long as the scheme is fair and reasonable. A bare trust was found: WealthTek LLP held each client’s share of the client assets on a bare trust for that individual client...

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