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From garage to unicorn – Employment law lessons for scaling tech teams
Catherine Bourne
The ‘metaverse’ is one of the most hyped, and simultaneously poorly defined, concepts of the ‘new age’ of the internet’s evolution. To a certain extent a result of the vision promoted by Mark Zuckerberg when announcing Facebook’s pivot and rebranding to become ‘Meta’, the term conjures up images of fantastical worlds populated by other-worldly avatars.
The thorny issues of Restructuring Plans, “cross class cram down” and CVAs, have probably been dirty words in commercial landlord circles for some time. Landlords would be forgiven for feeling a bit hard done by too. These flexible restructuring tools, whilst hugely beneficial to struggling companies (like tenants), have been perceived as unfairly prejudicial to landlords’ interests. There is a growing scrapheap of authorities of unsuccessful challenges by landlords that arguably support this view from: JJB Sports plc (CVA)(2009), Debenhams (CVA)(2019) right through to recent examples like Deep Ocean (Restructuring Plan)(Jan 2021), New Look (CVA)(May 2021), Regis (CVA)(May 2021) and Virgin Active (Restructuring Plan)(May 2021).
As winter draws near, the days grow shorter, temperatures dip, and businesses will be turning on the lights longer and the heating up higher; all leading to higher energy bills. But, with continuing volatility in the energy market, how many businesses can afford to do so and will energy bills sound their death knell?
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