‘Julian Assange has lost an attempt to be freed on bail as he awaits a US appeal against a judge’s ruling that he cannot be extradited.’
The Independent, 6th January 2021
Source: www.independent.co.uk
‘When a court appoints a person, S, to act as a deputy for a protected party, P, it can require S “to give to the Public Guardian such security as the court thinks fit for the due discharge of his functions”. In practice, a court will almost always require S to provide security where (s)he will be managing P’s property and affairs. The purpose of the security is not to punish S, but instead to provide a “speedy and effective remedy” for P if S later defaults. Carefully crafted rules set out how S must provide the security, when S may start to execute their duties and how the Public Guardian can confirm that adequate security has been obtained.’
Radcliffe Chambers, 4th February 2019
Source: www.radcliffechambers.com
‘GMH provided loans to Qucomhaps of around $4,000,000 to assist it in purchasing the business of the aircraft manufacturer, Moravan. Repayment was secured by a personal guarantee from Mr Harkin, Qucomhaps’ managing director. Further GMH was granted fixed and floating charges over the assets of Moravan Aviation, a wholly owned subsidiary of Qucomhap which had acquired the assets of Moravan.’
Hardwicke Chambers, 28th November 2018
Source: hardwicke.co.uk
‘I read the decision in Ziggurat with some incredulity. I hadn’t intended to trespass on Karen Spencer’s territory, and overall I’d agree with her conclusion that the amendments made to the ABI form seem to have confused rather than clarified matters. I’d also agree with Roddy Cormack’s comment that more radical surgery is needed if the employer wishes to secure earlier payment following the contractor’s insolvency. But I did want to offer some thoughts on what the decision tells us about wider issues in the surety bonding market.’
Practical Law: Construction Blog, 17th January 2018
‘The guarantor of an insolvent commercial tenant cannot be held liable for outstanding obligations if changes were made to the lease without its consent which had the “potential” to increase the burden on the guarantor, the Court of Appeal has confirmed.’
OUT-LAW.com, 23rd January 2014
Source: www.out-law.com
Hackney Empire Ltd v Aviva Insurance Ltd [2012] EWCA Civ 1716; [2013] WLR (D) 2
“The rule in Holme v Brunskill (1878) 3 QBD 495, permitting the discharge of a surety’s liability under a guarantee, only applied where the parties to the principal contract guaranteed had varied the terms of that contract without the surety’s consent.”
WLR Daily, 19th December 2012
Source: www.iclr.co.uk
“Supporters of Wikileaks founder Julian Assange face a wait to see if they will be asked to forfeit £140,000 of bail sureties after he sought asylum.”
BBC News, 3rd October 2012
Source: www.bbc.co.uk
McGuinness v Norwich and Peterborough Building Society [2011] EWCA Civ 1286; [2011] WLR (D) 324
“A petition in bankruptcy against a guarantor could be founded, in certain circumstances, upon a guarantee which had contained a ‘see to it’ clause.”
WLR Daily, 9th November 2011
Source: www.iclr.co.uk
In re Kaupthing Singer and Friedlander Ltd [2011] UKSC 48; [2011] WLR (D) 297
“The equitable rule which prevented a person sharing in a fund while his debts to the fund were unpaid was trumped by the rule against double proof in a suretyship situation.”
WLR Daily, 19th October 2011
Source: www.iclr.co.uk
“The UK supreme court announced this week that it was looking to recruit a couple of new judges (at salaries of £206,857). There is one immediate vacancy following the death of Lord Rodger last month, and there will be a further vacancy next April when Lord Brown retires. Who will get the jobs?”
The Guardian, 27th July 2011
Soruce: www.guardian.co.uk
White v Davenham Trust Ltd [2011] EWCA Civ 747; [2011] WLR (D) 212
“A guarantor of a debt could not set aside a statutory demand served by a creditor where the creditor had security over the assets of the principal debtor, and so could not serve a statutory demand on the principal debtor because of rule 6.5(4)(c) of the Insolvency Rules 1986, but had the benefit of an unsecured debt owed by the guarantor.”
WLR Daily, 28th June 2011
Source: www.iclr.co.uk
“A creditor was under a duty to disclose to the surety any contract or other dealing between creditor and debtor which changed the position of the debtor from that which the surety might naturally have expected, but was not under a duty to disclose to the surety other matters relating to the debtor which might be material for the surety to know.”
WLR Daily, 10th March 2011
Source: www.lawreports.co.uk
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