The number of corporate insolvencies in Scotland fell below 2019 levels last year as the array of government Covid-19 support measures continued to provide a lifeline for those businesses who have been adversely affected by the pandemic, according to new figures released by KPMG.
Published 25 January 2021
The re-introduction of Crown preference and the resulting change in the order of priority of creditors on insolvency was announced as part of the Autumn budget in 2018, way before anyone had heard of Covid-19, and was originally due to come into force on 6 April 2020. It was delayed until 1 December 2020 in terms of the 2020 budget which was presented to Parliament on 11 March 2020, the same day as the World Health Organization declared the outbreak of Covid-19 to be a pandemic.
Published 5 November 2020
Corporate insolvencies may increase this winter, with new research from the insolvency and restructuring trade body R3 indicating that a steep rise may start as early as this October.
Published 11 August 2020
Nicola Ross explains the details of new legislation aimed at helping ailing businesses.
Published 2 June 2020
The UK's wrongful trading law will be suspended to allow businesses to "weather the storm" of the coronavirus pandemic, business secretary Alok Sharma has announced.
Published 30 March 2020
Directors across the UK are asking the UK government for a temporary indemnity which allows them to keep technically insolvency firms in operation during the coronavirus pandemic without fear of legal action.
Published 26 March 2020
The number of Scottish companies entering into administration, receivership or liquidation has decreased by almost 35 per cent in the last quarter, according to new analysis by KPMG.
Published 18 October 2019
Stuart Clubb highlights the significance of a recent decision of the Inner House of the Court of Session regarding the insolvency of Scottish companies carrying out business in India.
Published 30 July 2019