United Kingdom: Corporate and Company Law

When a business or an inpidual in England and Wales becomes insolvent and is facing bankruptcy there are important legal obligations.

Earlier this month, the Government published a draft set of regulations laying out the framework for a new register of contractual controls (authorised by section 221 of the Levelling Up and Regeneration Act 2023) along with some Government guidance.

Certain types of acquisition in 17 so-called "sensitive sectors" trigger mandatory notification, in which case the buyer may not proceed with the acquisition until it has received approval from the UK Government. (Transactions outside of these sectors can be notified on a voluntary basis, which buyers may consider doing to avoid the possibility of proactive intervention by the Government.)