It was Paul Daniels who made the phrase, “You’ll like this… not a lot, but you’ll like it” famous. Perhaps that would have been apt last week when the IMF revised its 2013 growth forecast for the UK from 0.7% to 0.9%. Not great, but it’s a start.
However, there is no doubt that it will be a long road to recovery and we will still see the effects of the recession for some years to come. I’m not an insolvency expert, but I realised the other day that insolvency is a factor in much of my current workload. For example, I’m acting as adjudicator where one party is in financial difficulties, acting as expert in matters where developers have gone pop, and so on. MCMS is even acting as PQS where the previous PQS succumbed to its heavy financial burdens.
Insolvency is never far from the law reports either. In fact, Ramsey J had to deal with some interesting insolvency points in the adjudication enforcement case, FG Skerritt v Caledonian Building Systems. Continue reading