What we do

We at Buckinghamshire and London based media law practice, Richard Howard & Co Solicitors / Lawyers offer legal services in the areas of commercial, corporate, business, dental / healthcare / medical and media law with special and specific reference to media and general communications businesses, such as: television companies; paper and electronic publishing firms; multimedia organisations and telecommunications concerns.

What we do for corporate dental practices and private primary healthcare companies

In addition, we at Richard Howard & Co Solicitors offer advice on all manner of legal topics specific to the requirements of corporate dental practices and private primary healthcare companies, such as: acquisitions; practice conversion to corporate and LLP status; investment and joint venture agreements; property / lease acquisition and assistance with National Care Standards; partnership / shareholders agreements; employment agreements, employment disputes and dismissals. We also offer advice to overseas / offshore private healthcare companies opening UK branches and subsidiaries.

What we do for the media sector

Our media law services at Richard Howard & Co Solicitors / Lawyers include offering advice on a broad range of company, commercial and intellectual property areas specifically in the media law sector and to clients in the media industry - both in the UK and internationally (abroad / offshore). Specific media law related legal assistance covers such areas as: company insolvency; company incorporation of non-UK businesses; joint ventures; franchising; company acquisitions; employment contracts; copyright disputes; defamation disputes; rights disputes; distribution agreements; company formations; commercial and regulatory advice for channel launches; rights and agreements for TV formats and all aspects of television production; employment law.

In short, for legal advice for the media / communications sector (especially in respect of television companies) or the medical profession (particularly Primary Healthcare Trusts or Dental Practices) look no further that Richard Howard & Co Media Law, Business Law and Dental / Healthcare / Medical Law Solicitors / Lawyers.

Learn more about the business / corporate law services provided by our specialist lawyers at Richard Howard & Co Media and Business Law Solicitors based in London and Buckinghamshire

RICHARD HOWARD & CO

Solicitors

Business and Media Law

  
 

Corporate Voluntary Arrangements

Is yours working out?

Corporate Voluntary Arrangements (CVA) became a popular way of restructuring a company's debts long before the economic downturn but these types of arrangements along with administration are being deployed more frequently in the credit crunch. For further details of CVAs see the Avoiding Corporate Insolvency information sheet (PDF document - download Adobe Acrobat Reader free).

A CVA can last for a number of years, so what can you do if things start going wrong?

Many companies find that the friendly "nominee" who wrote their proposal may turn into a foe if companies struggle to maintain the rescheduling proposals in their arrangement. Often a company finds that the fees charged by their supervisor are excessive and that much of work undertaken seems unnecessary.

Creditors often find that the debt repayment programme that the company promised in the proposal is not adhered to. The supervisor hoards cash, creditors are disgruntled and this further damages the goodwill of the company.

Many companies and creditors feel powerless. The supervisor is in a position of control. There is little direct contact with the individual supervisor that the directors and creditors met at the approval meeting, and day to day complaints addressed to junior fee-earners at the Insolvency firm running the arrangement, do not produce any results.

It is important to try and maintain a dialogue with the supervisor, to obtain and discuss reports about receipts and payments and attend meetings when they are called. If dialogue with the supervisor breaks down however, because ultimately CVAs are controlled by the court, you may need to take your concerns to a judge.

The court maintains a wide jurisdiction to oversee the decisions of the supervisor, if a creditor or another person with an interest in the arrangement is dissatisfied and brings it to the court's attention. A relatively simple and low cost procedure is available to bring matters before the court. An application (called an ordinary application, the court fee for which is currently £60) can be issued for a hearing before a registrar in the Companies Court or a district judge in the County Court, depending where the CVA proposed was first filed.

At least 14 days before the hearing of the application, the person applying must serve a witness statement setting out what his or her complaints are and the supervisor has the opportunity to reply. The supervisor may decide to instruct his own solicitors at this point, if he has not already done so.

On the hearing the court has a wide jurisdiction either to reverse a decision of the supervisor, to give directions as to what the supervisor should do, or "make such order as it thinks fit".

Sometimes the fact that an application has been issued against the supervisor can assist a company or a creditor in its negotiations with the supervisor about the implementation of the arrangement. Supervisors are not immune from personal costs orders and if an application against a supervisor is successful he should not be permitted to recover his own costs from the arrangement.

If the main cause of complaint is the size of the supervisor's costs, the court may make an order that an assessor is appointed to check whether the costs have been reasonably charged or sometimes carry out this assessment by itself.

If you are experiencing difficulties with the supervisor of a voluntary arrangement and would like advice whether an application to the court could resolve the issues, please feel free to contact us on 0800 093 4212.

  
 

© 2004 - 2009 Richard Howard & Co Solicitors
Central Court, 25 Southampton Buildings, LONDON, WC2A 1AL
The Open Space, Edgcott Road, Doddershall, BUCKINGHAMSHIRE, HP22 4DE, UK
Telephone: +44 (0) 20 7831 4511

Richard Howard & Co is a practice name of The Howard Partnership Limited
Registered Office: The Open Space, Edgcott Road, Doddershall, BUCKINGHAMSHIRE, HP22 4DE, UK
Registered in England number 4924814
Regulated by the Solicitors Regulation Authority number 388174

Website designed by OXLink ®

Who we are to the media sector

Who we are to the corporate / business sector

Who we are to the medical / healthcare / dentistry sector