19 Mar
Online event
9:00am - 10:00am

Breakfast Briefing: Insolvency – Rights of employer and duties of employees

The business recovery consultancy, Begbie Traynors, reported in November 2023 that almost 480,000 businesses across the UK are in significant financial distress, and a further 37,772 in critical distress in Q3 for 2023, a rise of 25% from Q2. Sectors particularly hit hard include construction and retail, and reflects the pressures on businesses caused by higher interest rates, continued inflation and declining consumer spending. The economic outlook remains negative, with the Bank of England predicting zero growth in the UK economy until 2025, and interests expected to remain high for the foreseeable future.

Against this backdrop, employers will have to consider restructuring and reorganisation, and unfortunately will inevitably for some business result in job losses.

This breakfast briefing will seek to explain the employment law issues when a business is in financial distress and facing insolvency.

What will be included in the session?

  • A recap on the meaning of insolvency, and the different types of insolvency procedures
  • The effect of insolvency on employees’ contracts of employment
  • Adoption of contracts of employment by the insolvency practitioner
  • Effect of insolvency on employee liabilities and the National Insurance Fund
  • Collective redundancy consultation
  • Effect of insolvency on TUPE rights

Who should attend?

  • HR Directors, managers and advisors
  • Finance Directors and managers
  • Insolvency advisors and practitioners