Value Break: Our Insights on Restructuring Trends and Developments

The characterisation of fixed and floating charges remains a complex area, not least with respect to new intangible asset types.

Actions brought against the BHS directors by the group’s liquidators have resulted in the largest reported award for wrongful trading since the provision’s introduction, but the judgment highlights some unsettled areas of the law relating to directors’ duties.

Despite three recent landmark UK restructuring plan decisions, uncertainty remains around the value, if any, a plan company should offer dissenting creditors as the “deliverability price” of a plan.