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Corporate Reconstructions

 
Andy Newsome Tax Partner Deloitte LLP introduces this special edition focusing on corporate reconstructions
 
Government figures released in January 2009 confirmed that the UK was officially in recession for the first time since 1991. Unemployment rose to 2.22 million at the end of March 2009 up 592 000 over the year and the insolvency statistics make for some grim reading (see Figure 1).
 
Figure 1: Liquidation/adminstration statistics
 
Source: The Insolvency Service
 
Despite this there are those who have seen the first 'green shoots' of recovery. Economic data seem to indicate a quarterly rate of contraction in GDP for Q2 2009 of around 0.5%. The 1.9% drop in output seen in the first quarter...
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