On Tuesday 23rd February, we had the pleasure of holding the seminar “Key Points on UK Insolvency”, organised in collaboration with Quabbala, member of the Spanish Chamber.
On this occasion, our Secretary General, Igor Urra, received attendees on behalf of our institution and introduced the speakers from Quabbala: Rubén García-Quismondo, Managing Director and Claire Buijs, Director.
To kick off, Claire Buijs summarized the UK insolvency procedures that would be mentioned during the session: Schemes of Arrangement, Company Voluntary Arrangement, Administration, Creditor’s Voluntary Liquidation, Compulsory Liquidation and Members’ Voluntary Liquidation.
After this brief introduction, she explained the first procedure, schemes of arrangement; Claire used a structure that would be followed throughout the talk and which was composed of: nature, definition, way of application, purpose and necessity of use.
To elaborate on this content, Rubén García-Quismondo discussed some case studies to illustrate this point more clearly and the suitability of the schemes of arrangement in each of them.
After that, Claire Buijs continued explaining the other procedures through the same structure as well as adding the duties of an administrator and liquidator in Administration and Creditor’s Voluntary Liquidation procedures respectively.
To conclude the seminar, the speakers provided an overview of new tax changes which will affect certain member’s voluntary liquidations after April 2016, as well as a brief discussion about changes to the insolvency legislation and recent case law affecting company directors.
The event then moved on to the Q&A session, where the representatives of Quabbala responded to all the questions from the attendees. Once the session finished, participants could enjoy an interactive networking breakfast while sharing thoughts and discussing further all the ideas covered in the talk.
Before finishing, we would like to thank all attendees for participating as well as the team of Quabbala for creating a very enjoyable and dynamic atmosphere and for delivering such a practical and interactive talk.
Last but not least, we encourage you to keep updated on all the activities of the Spanish Chamber by visiting our UPCOMING EVENTS section. You can also subscribe to our weekly electronic newsletter in order to receive updates on the latest activities of the Chamber!