 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS Application of TUPE regulations to insolvency takeovers clarified in Appeal Court ruling  An Appeal Court ruling has provided some clarity about how to apply TUPE regulations in business takeovers. Workers employed by a business which has been rescued from insolvency by administrators are subject to TUPE, a judge ruled last month in the Key2Law v Secretary of State for Business case. Previously, administrators have lacked the legal certainty of this judgment, but this will rule out any doubts as to how TUPE should be applied. However, there is concern that this new legislation will make administrative takeovers less attractive to buyers. This could have wider implications for the failure rate of businesses who apply for insolvency, and in turn their employees. UK insolvency rates have been improving in the south-east of England, where the failure rate stood at 0.07 per cent, according to official figures published by Experian last month. However, failures in the north-east, north-west and Yorkshire increased, with insolvency rates now standing at 0.14 per cent, 0.12 per cent and 0.11 per cent respectively. Posted by Georgina Price 
Related Articles: 21/5/2012 - Vince Cable rounds on Tory no-fault dismissal plans 18/5/2012 - Dockers strike again over 'attack on employment contracts' 3/5/2012 - OECD called into investigate 'blatant' employment law breaches at Liverpool firm 27/4/2012 - Supreme Court ruling gives green light to forced retirement? 20/4/2012 - Disabled workers demonstrate over Remploy closures More Employment Law News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |