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Podcast Location:
Download it here [file size: 22.9 MB]
Law Categories:
Insolvency
CPD Points:
Up to one point - details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority / ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain ½ an accredited CPD point (30 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
Standard rate: £25+VAT - Corporate users will pay less.
Special Offer:   1: Download this CPDcast FREE   2: Get this year's CPD for just £199
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to offer a practical overview of the process and considerations when seeking to purchase or acquire rights from an administrator or liquidator of an insolvent company. It covers how to negotiate a good sale and what risks are inherent when buying rights in various assets in this manner. The podcast then turns to consider acquiring employees and the possible impact of the TUPE Regulations. The podcast ends with a brief appraisal of the practice of 'pre-pack' administration.

Outcomes:
After completing the course you will:
  • Understand the differences between a solvent and insolvent sales process;
  • Understand how the pressure and limitations on the liquidator's role increases the risk to purchasers;
  • Know how to secure a better deal as a purchaser;
  • Understand the procedure and risks in acquiring various classes of company assets, including property, stock and debts;
  • Know the circumstances where the TUPE Regulations apply and how they can compromise a clean break between old and new business enterprises;
  • Appreciate the role of 'pre-pack' administrations, their drawbacks and possible benefits.
Level:
Intermediate Difficulty: of 5
Classification:
Case Update
Legal Principles
Practical Guide
Sources and References:
  • Insolvency Act 1986;
  • Insolvency Rules 1986 (as amended);
  • Dynamex Friction Ltd & Anor v Amicus & Ors [2008] EWCA Civ 381;
  • Cab Automotive Ltd v Blake & Others [2008] UKEAT 0298_07_1202;
  • Transfer of Undertakings (Protection of Employment) Regulations 2006 SI 2006/246;
  • Acquired Rights Directive 2001/23/EC;
  • Oakland v Wellswood (Yorkshire) Ltd [2009] UKEAT 0395_08_0901;
  • The Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order 2009.

This podcast examines the process by which a purchaser can acquire assets from a company that is in administration or liquidation. It outlines the process and key considerations for purchasers when seeking to acquire various classes of property rights and employment rights liabilities.

Podcast added: 03/04/09

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