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There has been a spate of interesting insolvency items in the news of late. Perhaps unsurprisingly last week's release of the fourth quarter insolvency statistics for 2011 have provided plenty of grist for the mill for our journalist friends. The Herald Scotland has focused on the fact that insolvency rates in Scotland are twice as high at the UK average. The Independent meanwhile has focused in a doom monger sense on the potential for future misery on the corporate side.
Elsewhere, the Irish insolvency reforms continue to feature strongly, not least in the Irish Independent (see also here, here, here and here for other views on the reforms). Lord Ashcroft's failed British Caribean Bank is being pursued by its liquidator. He is still having problems gaining access to the Bank's documentation according to the Guardian. The directors of Farepak are to get their just deserts according to the Scottish Daily Record. It seems that the Insolvency Service is about to agree Directors' Disqualification Undertakings with the directors of the failed company. Talking of failure, Kate Bleasdale, the entrepreneur is close to bankruptcy according to the Daily Telegraph. The case is going to be heard in Kingston, and is on Valentine's Day. If a surprise has not been planned for me I might just pop along! For an interesting discussion of bankruptcy forum shopping, see here.
Finally, the recently shelved pre-pack reforms have also been receiving some press attention. See here for the Herald Scotland perspective.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...