Alan Meek is a Consultant in MFMac's Restructuring & Insolvency team.
He advises insolvency practitioners, company directors and creditors on a wide range of corporate insolvency matters, helping clients navigate financial distress, protect their interests and identify options in challenging circumstances.
Alan has particular experience advising on the acquisition and sale of businesses and assets from insolvency, including pre-pack transactions. He regularly supports insolvency practitioners on technical insolvency issues and works with boards of distressed companies on their legal duties, potential risks and available options when facing financial difficulties. He also advises creditors on protecting and enforcing their rights in insolvency processes.
Clients value Alan's responsive and commercial approach. He combines strong technical expertise with practical advice that helps clients make informed decisions and progress matters efficiently, even in complex and time-sensitive situations.
Alan is also an associate member of R3.
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This is one of a series of articles we are producing to guide our clients through the wholesale change proposed in Scots law in relation to security over goods and intellectual property, on the one hand, and invoice finance or the purchase of receivables, on the other. For a general introduction to what the Bill covers, see this article. The Moveable Transactions (Scotland) Bill was passed by the Scottish Parliament on 4 May 2023 and is expected to be implemented in the latter half of 2024. This article is concerned with the how the changes being introduced will interact with Scots insolvency law.
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Directors resign for many reasons. For example, there may be disagreements among stakeholders about the future course of the company, they may be concerned about the risks associated with financial difficulty/insolvency, or they may just wish to retire.
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In this two part article we highlight for directors some of the main ways in which the general protection of limited liability does not apply or can be lost. Part one of this article discusses those exceptions to the principle of limited liability that arise in insolvency or distress situations. Part two deals with the provisions that have more general applicability.