Law will change on receiverships
17th March 1994, Page 7
17th March 1994
Page 7
Page 7, 17th March 1994
— Law will change on receiverships
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Keywords :
Bankruptcy, Insolvency Law, Finance, Court Orders, Contract Law, Administration, Receivership, Contract, Insolvency, Law / Crime, Labor
• Trade Secretary Michael HeseRine is set to change the law on company receiverships following a controversial court decision which could have led to premature closure of insolvent companies and thousands of job losses.
The Court of Appeal ruling would have made hauliers in receivership liable for contracts of employment for staff they kept on for more than two weeks after the company was put into receivership or administration.