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Podcast: Edwin Coe LLP's Podcast
Episode: Bite-sized Legal Update: The Matches Fashion Group administration: proposals; waterfall; and outcome for employees
Description: Restructuring and insolvency litigation partner Simeon Gilchrist provides an insight into the Matches Fashion administration. Coming hard on the heels of the Body Shop administration, Simeon discusses the administrators’ proposals for achieving the purpose of the administration. This is a plain English review of what is otherwise an extremely complex area of law and economic reality. The collapse of the Matches Fashion Group leaves employees, suppliers, tax authorities and investors competing to recover what they can. Simeon looks at the order of distribution, known as “the waterfall” , the prescribed part of the sale proceeds that is ear-marked for unsecured credit...