Laura Crawford

Latest Articles

The demise of high street retail and the insolvency of household names, including Woolworths, BHS, and more recently Debenhams and Monsoon has been a real headache for property owners. The moratorium created by administration ties the hands of landlords, preventing them from forfeiting leases without first having obtained the consent of the administrator or the leave of the court. When a landlord (or indeed any creditor) comes to court asking the court to exercise its…
The shipping industry was recently in the headlines when on 31 August 2016 Hanjin Shipping Co filed for bankruptcy protection in the Seoul Central District Court. Hanjin was South Korea’s biggest container carrier and the seventh largest in the world. Upon obtaining bankruptcy protection, 66 of its ships containing an estimated $14.5bn of cargo were left stranded at sea.  Ports around the world refused entry to Hanjin’s ships, on the basis that they feared that Hanjin…
At the closing of the summer transfer window on 31 August, it was announced that the Premier League had splurged a record-breaking £1.165 billion on player transfers. To put that in context, that is roughly equivalent to the GDP of the Central African Republic but was spent by 20 English clubs in a two month period. It is widely believed that this 35% increase in spending (up from £859m in 2015) is due to the new…
Significant changes have taken effect and are expected to continue within the education sector, the result of which may lead to an increase in restructuring activity and additional pressure on funding streams. In the Further Education (“FE”) sector, the Government has introduced “Area Reviews”, whereby FE institutions within a particular geographical area are encouraged to merge with one another in order to consolidate the number of FE providers in that area. The stated aim is to…
The performance of the UK manufacturing sector is one of the key indicators of the health of the UK economy as a whole. To what extent is the current stagnant growth in that sector a result of the impending EU referendum? The Markit/CIPS manufacturing Purchasing Managers’ Index fell to 49.4 in April 2016, its lowest level since early 2013. The index measures the growth in the manufacturing sector; a figure of less than 50 indicates…
Unless you have been living in a cave, you will have heard the very disappointing news that the current exemption to the Jackson reforms for insolvency claims under the Legal Aid, Sentencing and Punishment of Offenders Act (“LASPO”) will cease as of 1 April 2016. If you are to avail yourself of the benefits of the Jackson exemption, which was one of the few pieces of legislation that levelled out the playing field between Insolvency…
On 1 October 2015, several changes to UK insolvency legislation are coming into force. Insolvency practitioners and stakeholders should take note of the following key amendments to make sure they are up to date with these changes. The amendments are the next raft of changes to insolvency law under the Small Business Enterprise and Employment Act 2015 and the Deregulation Act 2015. The previous changes, brought into force on 26 May 2015, are detailed here.…
On Friday 11 September in the High Court in London, Mr E Murray (sitting as a Deputy High Court Judge), handed down a reserved judgment: Clutterbuck & Paton v William Cleghorn (as Judicial Factor to the Estate of Elliot Nichol Deceased), in which the entirety of the Claimants’ £97.5m claim was struck out as an abuse of process. Squire Patton Boggs, acting for the Defendant, mounted a successful strike out on the basis that…
Did you know that if a company is listed on the Interim Permission Consumer Credit Register that the directors of the company need the written consent of the FCA before they can file a notice of intention to appoint administrators (“NOI”), and failure to obtain FCA consent renders any subsequent appointment invalid? Most businesses that; offer goods or services on credit, lend money to consumers, or provide debt solutions and advice to consumers will be…
Months of anticipation culminated in a successful result for the Liquidators of Bilta (UK) Limited (in liquidation) on 22 April 2015 in a pivotal fraud case, whereby the Supreme Court unanimously dismissed an appeal involving the ‘illegality defence’, in the case of Jetivia SA and another v Bilta (UK) Ltd (in liquidation) and others [2015] UKSC 23. The Supreme Court upholding the decision of the Court of Appeal confirmed: Directors cannot rely on their own…