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The BBC has an interesting story on the Allders department store in Croydon and its closure. See here. The piece highlights what Professor Elizabeth Warren (the famous Harvard bankruptcy law professor who is standing for the American Senate) has coined communitarianism in insolvency. The ramifications of the job losses and such like will undoubtedly have a detrimental effect on Croydon.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...