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I have recently received an email from a former director of Specialised Mouldings Ltd, the company whose name will always been synonymous with the adoption of employment contracts issue and Mr Justice Harman's famous unreported decision. The correspondent wrote:
"Andrew Conquest was administrative receiver of Specialised Mouldings Limited - a landmark case for insolvency practitioners in the area of employment liabilities
My husband.... and I founded and were directors and major shareholders in Specialised Mouldings and are interested to know a little about the the insolvency judgement by Sir Jeremiah Harman and the subsequent House of Lords ruling re. the Specialised Mouldings Letter....
...the issuance of raw material import permits, likely caused the downfall of the business - we being unable to lay off workers even though we had no raw materials for completion of orders in hand."
Do any of the blog readership have any memories of the turbulent period back in 1994 when the Insolvency Acts of that year were passed and the furore surrounding Powdrill v. Watson, etc?
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...