It looks like the unregulated company sector is booming and government hostility to the regulated insolvency profession is producing a boom in the number of strike offs and a reduction in the number of company rescues. Administrations are being regulated out of existence by the Goverment, but transferring assets to a new company and allowing the old company to be struck off, by breaching company law in failing to file accounts, is all the rage. No report on the conduct of the directors is prepared in a strike off and with well over 1,000 strike offs per day, no one can effectively monitor
Whils most people expect insolvencies to have increased over the last few years, Government figures show that the opposite is the case. The latest figures for Q4 2015 showed that Corporate Insolvencies were at their lowest levels since 1989 and Personal Insolvencies were at their lowest level since 2005. A stuttering economy and low interest rates were the cause of the low figures. A recent hike in Court fees and the raising of the debt level for bankruptcy petitions to £5,000 is expected to further suprress personal insolvency numbers.
KW Law, acting for Top Brands & Lemione, were again successfull in defeating the appeal of Gagen Sharma to the Court of Appeal in the case which first appeared in Birmingham before HH Judge Browne QC. Permission to appeal to the Supreme Court was refused and Mrs Sharma was ordered to pay the costs of the appeal.
KW Law are looking to recruit at NQ-1 yr PQE. Candidates must have a good academic record, and experience in insolvency or commercial litigation. A Paralegal who has completed the LPC and with relevant experience would be considered. Please send CV and covering letter to Julian@KW-Law.co.uk.
KW Law successfully represented corporate clients Top Brands and Lemione Services in an action for misfeasance against former liquidator Gagen Sharma. Mrs Sharma was ordered to pay in excess of £500,000 plus legal costs. The case moves to the Court of Appeal with a hearing expected in the New Year. Robin Koolhoven has conduct of the case.