New insolvency legislation: A guide to the new Deregulation Act 2015 and Small Business, Enterprise and Employment Act 2015 – Hardwicke Chambers

Posted July 28th, 2015 in administration orders, insolvency, legislation, news by sally

‘The Small Business, Enterprise and Employment Act 2015 (SEEBA) and the Deregulation Act 2015 were added to the statute book on 26 March. Both contain provisions that make significant changes to the Insolvency Act 1986.’

Full story

Hardwicke Chambers, 10th June 2015

Source: www.hardwicke.co.uk

In re MF Global UK Ltd (in special administration) (No 3); MF Global UK Ltd (in special administration) v Heis and others – WLR Daily

Posted June 18th, 2013 in administration orders, administrators, insolvency, law reports, trusts by sally

In re MF Global UK Ltd (in special administration) (No 3); MF Global UK Ltd (in special administration) v Heis and others [2013] EWHC 1655 (Ch); [2013] WLR (D) 236

“The court had an inherent jurisdiction to give such directions as would enable the administrators of a regulated investment firm, holding client money under rules imposing a statutory trust, to put in place a client money distribution procedure for dealing with rejected claims and unknown claims which could provide a degree of certainty and protection and ensure a timely return of client money.”

WLR Daily, 14th June 2013

Source: www.iclr.co.uk

In re MF Global UK Ltd (in special administration) Heis and others v Attestor Value Master Fund LP and another – WLR Daily

Posted January 31st, 2013 in administration orders, financial regulation, insolvency, law reports by sally

In re MF Global UK Ltd (in special administration); Heis and others v Attestor Value Master Fund LP and another [2013] EWHC 92 (Ch); [2013] WLR (D) 30

“The hindsight principle was not applicable to the determination of claims to client money for the purposes of a distribution under Chapter 7A of the Client Assets Sourcebook (‘CASS 7A’) issued by the Financial Services Authority in accordance with its powers under Part X of the Financial Services and Markets Act 2000.”

WLR Daily, 29th January 2013

Source: www.iclr.co.uk

Cartwright and another v Registrar of Companies – WLR Daily

Posted August 30th, 2012 in administration orders, appeals, conversion, insolvency, law reports, notification by tracey

Cartwright and another v Registrar of Companies: [2012] EWCA Civ 1159;   [2012] WLR (D)  255

“The date on which the administration of a company was converted into a creditors’ voluntary liquidation was the date on which the registrar of companies registered the conversion notice on the company’s file at Companies House, not the date the registrar received the notice sent by the administrators, on the true construction of paragraph 83 of Schedule B1 to the Insolvency Act 1986 as inserted. The administrators’ term of office was in general automatically extended if a conversion notice under paragraph 83 was duly filed.”

WLR Daily, 24th August 2012

Source: www.iclr.co.uk

Cartwright and another v Registrar of Companies – WLR Daily

Posted March 1st, 2012 in administration orders, insolvency, law reports by tracey

Cartwright and another v Registrar of Companies: [2012] EWHC 359 (Ch);  [2012] WLR (D)  48

“Where a company’s administrators sent notice to the registrar of companies to place the company into voluntary liquidation, and the notice was sent and received by the registrar before the termination of the administration, but the administrative steps to bring about that registration occurred after the end of administration, paragraph 83(4) of Schedule 1B to the Insolvency Act 1986 should be interpreted as requiring registration with effect from the day of receipt. The phrases in paragraph 83(6) ‘on the registration of a notice’ and ‘on the day on which the notice is registered’ were treated as references to the effective date of registration, ie the date of receipt of the notice.”

WLR Daily, 24th February 2012

Source: www.iclr.co.uk

In re Kaupthing Singer and Friedlander Ltd – WLR Daily

Posted October 20th, 2011 in administration orders, insolvency, law reports, Supreme Court, surety by tracey

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

Habibsons Bank Ltd v Standard Chartered Bank (Hong Kong) Ltd – WLR Daily

Posted November 26th, 2010 in administration orders, conflict of laws, contracts, law reports, loans, news by sally

Habibsons Bank Ltd v Standard Chartered Bank (Hong Kong) Ltd [2010] EWCA Civ 1335; [2010] WLR (D) 299

“Where, in the course of a contractual transaction, a document had been altered unilaterally, and the other party sought to rely on the rule in Pigot’s case in submitting that the underlying transaction was thereby rendered void, it was important to draw a distinction between documents which contained or evidenced the transaction and documents which were required to carry it into effect.”

WLR Daily, 25th November 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Brazzill and others v Willoughby and others – WLR Daily

Posted June 3rd, 2010 in administration orders, appeals, banking, insolvency, law reports by sally

Brazzill and others v Willoughby and others [2010] EWCA Civ 561; [2010] WLR (D) 140

“A segregated trust account was held on trust for all account holders of a bank in respect of whose deposits should have been made into the account in accordance with a notice served by the Financial Services Authority (‘FSA’) and was not limited to those account holders in respect of whose accounts payments were in fact made into the account. ‘Deposits’ had its regulatory meaning which meant it was limited to regulated depositors only.”

WLR Daily, 28th May 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

In re Kaupthing Singer & Friedlander Ltd (in administration) – WLR Daily

Posted May 13th, 2010 in administration orders, appeals, banking, debts, insolvency, law reports by sally

In re Kaupthing Singer & Friedlander Ltd (in administration) [2010] EWCA Civ 518; [2010] WLR (D) 119

“After the set-off of cross-claims as between a company in administration and one of its creditors, the balance payable by a creditor to the company under r 2.85(8) of the Insolvency Rules 1986 in respect of a future debt was not to be a sum discounted to present value under r 2.105 but was to be an equivalent undiscounted amount.”
WLR Daily, 11th May 2010
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

In re Frankice (Golders Green) Ltd and others – WLR daily

Posted May 11th, 2010 in administration orders, gambling, insolvency, law reports by sally

In re Frankice (Golders Green) Ltd and others; [2010] WLR (D) 118

“The words ‘legal process’ in para 43(6) of Sch B1 to the Insolvency Act 1986 meant something with a defined beginning and an ascertainable outcome, involving the compulsive power of the law, which, in the interim, was governed by a recognisable procedure which was legal or quasi-legal in nature.”

WLR Daily, 10th May 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Administration and Enforcement Restriction Orders – Response to Consultation – Ministry of Justice

Posted September 18th, 2009 in administration orders, enforcement restriction orders, press releases by sally

“A consultation on administration orders, a long-term debt management scheme administered by the courts, and enforcement restriction orders, which provide short-term assistance (via enforcement relief) to those who encounter an unforeseen change to their financial circumstances.”

Full press release

Ministry of Justice, 18th September 2009

Source: www.justice.gov.uk