Carry on regardless
A recent High Court decision placing the UK subsidiary of a distressed US parent into administration could have significant benefits for the European arms of multinational companies, write Simon Freakley and Patrick Corr
This year was already set to be the year that would herald significant changes to UK insolvency laws, with the enactments of the 2002 Enterprise Act and parts of the 2000 Insolvency Act. However, a decision by Mr Justice Lloyd in the High Court in London earlier this month might, in time, be viewed as the most significant change of the lot by providing a solution for the growing number of financially distressed multinationals with EU operations.
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