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The recent announcement that Court fees are set to rise has much of the legal and business world talking. Is litigation doomed? Are the new fees prejudicial towards those without access to piles of cash? Moorfields provides their opinion on the impact on the market and how this might affect individuals and SMEs.

The apparent astonishment expressed by Adrian Bailey MP regarding “unregulated receivers” working in banks might seem slightly misconceived. However, similar views held by the public at large are damaging to the licensed insolvency profession.

The recent announcement that Kent based Aylesford Newsprint has filed for Administration is further confirmation of the issues facing the recycling and waste management sector. This follows UPM’s announcement that it will be decommissioning one of its two newsprint machines in Deeside. So what are the issues facing the sector? Ben Stanyon, Senior Manager at Moorfields Corporate Recovery expands:

For some time there have been murmurs of trouble brewing for businesses connected to the UK’s offshore oil and gas industry and there is evidence of a notable uptick in the number of formal insolvencies across the sector. Given their proximity to the North Sea oil and gas fields, cities such as Aberdeen and Norwich rely heavily on the oil and gas industry for employment and inward investment. However, the supply chain extends across the UK so this is not an isolated regional issue.

As insolvency practitioners and restructuring specialist we at Moorfields see a significant proportion of business failures and insolvencies arising as consequence of working capital shortfalls.