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Formula 1’s Manor team collapse, following administrators fail to find a buyer

Manor, the team which started life as Virgin Racing in 2010, have ceased trading today, Friday 3rd February, after administrators FRP Advisory have failed to find a buyer for their operating company, Just Racing Services.  While this doesn’t definitively spell the end for Manor, who have experienced administration once before in 2014, if a buyer was to come in now, it would be unlikely for the team to be ready to compete in the opening race of the upcoming championship.  There have been calls for stricter regulations into F1, particularly in the distribution of prize money amongst less well-established teams.

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UK faces 5% rise in insolvency levels over the next 12 months

Euler Hermes have conducted an Economic Study in which they find insolvencies in UK business will increase by 5% over the next 12 months.  This prediction sees the biggest rise of any major European market, as well as the first rise in 7 years in the UK.  While the UK may be bucking the trend in Europe, globally insolvencies are set to increase across the board.  Many factors have been blamed for this increase, namely a slowdown in GDP growth, as well as a depreciation in value of Sterling.

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BHS liquidation proceedings begin, ending iconic 88-year history in the UK

British retail chain BHS has officially entered liquidation after falling into administration earlier this year.

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Tens Of Thousands Lose Out After Budget Travel Firm Calls In Administrators

Tens of thousands of British holidaymakers face losing not only their holidays, but their money, after budget travel firm Lowcostholidays group went into administration this summer. When administrators were called in the travel company had 27,000 customers enjoying their holidays across the globe, and a further 110,000 customers booked for the peak summer months. Passengers were left unsure about what would happen with their holidays, but it has been revealed that the online travel company did not have an ATOL licence - meaning tens of thousands will not get their money back.

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Theresa May's Plans for Corporate Governance Reform

Theresa May was confirmed as Prime Minister after David Cameron resigned in the wake of the Brexit vote, and after her competitor for the title stepped down – but what does this mean for UK company law?

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