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Caroline Stark
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Recent Articles
Incomplete records will not avoid repayment of Directors' debts
A liquidator's investigation into a family company resulted in the liquidator pursuing the directors (and other family members as de facto directors) for repayment of overdrawn loan accounts as well as compensation for misfeasance and breach of fiduciary duty.
Credit crunch hits UK businesses
The number of companies facing insolvent liquidation rose by 15% during the second quarter of 2008, as compared to the same period last year, as the credit crunch continues to impact upon the UK economy. Figures from The Insolvency Service...
Individual insolvencies unexpectedly fall
The number of individuals becoming insolvent fell 8.3% to 24,553 in the second quarter, surprising analysts who expected to see an increase as evidence that higher living costs were impacting upon people's finances. Individual insolvencies were made up of 15,297...
Bankruptcy annulment
The High Court insists on payment of the bankruptcy debts and expenses being made in full before granting an annulment order, whereas in the county courts orders are often granted based upon undertakings to pay. In the case of Halabi...
Transactions at an undervalue and defrauding creditors
The time limits within which transactions at an undervalue can be upset under sections 238 and 339 of the Insolvency Act 1986 are reasonably well understood: 2 years for companies and 5 years for individuals.Section 423, which deals with transactions...