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The return of Turpin! – Validity of Administration Appointments by Directors...
In the case of Re BW Estates Ltd the High Court considered the validity of a directors’ out of court appointment in circumstances where there was technically an inquorate directors’ board meeting. It...
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The Tidal Wave of Class Actions continues to surge across Australia
It is widely accepted that there has been an increase in the number of class actions in Australia; however there have not been many examples of unmeritorious actions. The litigation funders are not in...
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Cross Border Insolvency Regulations 2006- Lifting the automatic stay on...
The English Court has agreed to lift the automatic stay on proceedings under the Cross Border Insolvency Regulations 2006 (“CBIR”) against STX Offshore & Shipbuilding Co Ltd (“STX”) which had...
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The Insolvency of Agents- When Agency Agreements are Irrevocable
The case of Bailey v Angove’s Pty Ltd heard in the UK Supreme Court has confirmed the general rule that an irrevocable agency will only be created in exceptional circumstances: there must be a...
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Chancellor of English High Court looks to a post-Brexit future
In an address last week to the Insolvency Lawyers Association, Sir Geoffrey Vos, the new Chancellor of the High Court, looked at the future for Insolvency and Business Litigation in London, especially...
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Wrongful Trading – The Importance of Quantifying Loss
The recent successful appeal in Brooks and another (Joint Liquidators of Robin Hood Centre plc in liquidation) v Armstrong and another [2016] EWHC 2893 (Ch), [2016] All ER (D) 117 (Nov) has clarified...
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Prohibited names and partnerships under Section 216
The recent case of Re Newtons Coaches [2016] EWHC 3068 considered whether a partnership falls within the remit of s.216 Insolvency Act 1986 (“IA 86”). The case looked at what s.216 is designed to...
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Beware French Employees’ Remedy for Damage to their “Individual Interests”
It is not always easy to prioritize between the various goals pursued in every insolvency legislation, namely; the continuation of the company, preservation of the jobs, the general economic/public...
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Bradford Bulls arise from the ashes?
Following the liquidation of Bradford Bulls earlier this month, the Rugby Football League have agreed a deal for a new rugby league team based in Bradford to commence life in the Kingstone Press...
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Smelting the Assets (directors’ duties/transactions at undervalue and to...
Dickinson v NAL (Realisations) Staffordshire Ltd is a useful case on how directors’ duties are looked at following a formal insolvency and ways in which an office holder can challenge transactions if...
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Spanish Court declares unlimited liability mortgage clause void
Spain’s Civil Code provides that when the sale proceeds of a mortgaged property do not cover all the debt contracted with the bank, the debt continues to subsist and the bank may go against any other...
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Insolvencies in Germany – New Avoidance Law in Force
On 5 April 2017, an amendment to the German Insolvency Code (Insolvenzordnung – “InsO”) has come into force which provides for various changes to the avoidance rules and clawback laws in German...
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The High Court in London goes digital
As of 25 April 2017, for courts within the Chancery division of the High Court in London, the filing of all applications, forms and documents must be performed electronically. This includes the...
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Does ATE insurance trump Security for Costs?
When reviewing a security for costs application under CPR 25.12, the courts are faced with the challenge of striking a balance between an impecunious claimant’s access to justice and the possibility of...
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The enforcement of pre-existing security over assets that become subject to a...
A recent decision in the High Court provided guidance with respect to the apparent conflict between freezing orders that have been granted over assets that are subject to an existing security....
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Russia cracks down on shareholders and management who cause company insolvency
The insolvency of companies in Russia is often caused by the negligent or illegal actions of their shareholders and/or management. The Russian Federal Law on Insolvency has been amended to introduce...
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BVI liquidators battle lawyers over legal costs in London court
The recent case of Crumper v Candey Ltd [2017] EWCH 1511 (Ch) delivered an updated analysis of the operation of section 245 of the Insolvency Act 1986 (“s245”). Although the insolvency proceedings...
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“But, we had a deal!” – Office Holders and Personal Liability for Costs
The recent Court of Appeal case of Stevensdrake Limited v Stephen Hunt [2017] EWCA Civ 1173 provides guidance on whether the office holder is liable to meet the legal costs in CFA cases where there are...
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Australian investors gain significant win against Standard & Poor’s
Investors in Australia, represented by Squire Patton Boggs in Sydney, have made history again with another big win over Standard & Poor’s (S&P). They were granted leave to pursue a “tort of...
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Bankruptcy Proceedings in Russia: An Analysis of Insolvency Statistics
Sergey Treschev and Elena Malevich of Squire Patton Boggs’ Moscow office have joined with legal journalists Alina Mikhailova and Maria Fomicheva of Pravo.ru to write an article recently published in...
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