Disruptive Asset Finance

Welcome to the Autumn 2021 edition of Disruptive Asset Finance

The COVID-19 pandemic has put a huge number of plans on hold and certain reforms proposed by the government have been no exception. However, somewhat out of the blue, the government has now announced that it will proceed with implementing a broader fixed costs regime for certain types of litigation. This means for many engaged with litigation there will be a fixed amount of costs recoverable from the other party. These reforms have the potential to shake up costs recovery significantly. In this edition of Disruptive Asset Finance Geraldine Stephens has considered these reforms and has focused on the impact for debt recovery claims. As yet no date for implementation has been set but we are likely to see significant steps to implement these reforms over the course of the next year.

Temporary restrictions, introduced due to the effect of COVID-19, have made it difficult for creditors to wind up a debtor company. However, these restrictions have now been eased and winding up is, once again, a viable tool for many creditors. However, we are not ‘back to normal’ yet: Stephanie Bishop informs us of the new restrictions. Another powerful enforcement tool are information hearings. Cases on this procedure are rare but, Owen Williams explores three recent cases strengthening the creditor’s position.

Peter Brewer considers the potential impact of a perfect position statement for mediation and Ed Halden considers eight common mistakes to avoid when it comes to serving proceedings.

John Flint

In this edition

Wider fixed costs regime set to be implemented

The rules relating to the recovery of legal costs in the majority of money cases up to £100,000 is to be subject to a major reform. Read more

Getting service right

Errors made when serving a claim can be extremely costly – it can leave a claimant with no action at all. Read more

Information hearings: A powerful tool against judgment debtors

A powerful tool available to judgment creditors are information hearings. Read more

Change to temporary insolvency provisions

The Corporate Insolvency and Governance Act 2020 (CIGA), enacted on 25 June 2020, introduced a number of permanent changes to the UK restructuring and insolvency regime as well as some temporary changes. Read more

Preparing the perfect position statement

Mediation is all about collaboration and compromise and getting the position statement wrong could cause more harm than good. Read more