Alan is Head of our Restructuring & Insolvency team and is a Partner in our Corporate team. He is a corporate lawyer of considerable experience.
He specialises in advising on corporate restructuring and insolvency. He is a very experienced and well-respected practitioner who routinely advises insolvency practitioners, directors, lenders and other stakeholders in all aspects of corporate distress situations.
Alan has been involved in many of the high profile insolvencies in Scotland over many years.
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.
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.
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.
From our offices we serve the whole of Scotland, as well as clients around the world with interests in Scotland. Please complete the form below, and a member of our team will be in touch shortly.