But the Assets are Already Frozen! Where Civil Freezing Orders and Criminal Restraint Orders Collide – Gatehouse Chambers

‘The Claimants were two companies and their respective administrators, who alleged in the main proceedings that substantial sums had misappropriated, by or for the benefit of the Defendants, or otherwise in circumstances giving rise to liability on the part of the Defendants.’

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Gatehouse Chambers, 27th July 2021

Source: gatehouselaw.co.uk

E-money and online payment institutions: when it all goes wrong – Radcliffe Chambers

‘The 2007-2008 financial crisis and the devastating reminder that banks were not immune from failure, brought about a raft of regulatory changes designed to protect customers and the wider economy. These included, if all else failed, bespoke administration procedures for banks, building societies and investment banks contained within the Banking Act 2009 (“BA 2009”).’

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Radcliffe Chambers, 22nd July 2021

Source: radcliffechambers.com

High Court dismisses allegations over administrators’ conduct – OUT-LAW.com

Posted April 16th, 2021 in administrators, chambers articles, insolvency, liquidators, news by tracey

‘The High Court of England and Wales has dismissed a claim brought by the liquidators of One Blackfriars Limited against its former joint administrators over the sale of the company’s main asset, a development site in Blackfriars, London.’

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OUT-LAW.com, 15th April 2021

Source: www.pinsentmasons.com

Administrator appointment not void despite notice failure – OUT-LAW.com

Posted February 9th, 2021 in administrators, floating charges, insolvency, news, notification by tracey

‘A secured creditor’s appointment of an administrator was not void despite the fact it failed to notify its intention to make the appointment to another secured creditor whose security was in place first, the High Court has ruled.’

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OUT-LAW.com, 8th February 2021

Source: www.pinsentmasons.com

Claimants in breast implant case buy cause of action to sue defendant’s lawyers – Litigation Futures

‘A leading defendant law firm and a QC have failed to strike out a professional negligence action brought after the claimants in a case they defended acquired their insolvent client’s cause of action.’

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Litigation Futures, 16th December 2020

Source: www.litigationfutures.com

FCA pursues Gavin Woodhouse’s ex-business partner in high court – The Guardian

‘The former business partner of the disgraced entrepreneur Gavin Woodhouse is being pursued by the Financial Conduct Authority in the high court over alleged links to care home investments in which investors appear to “have lost at least £30m”.’

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The Guardian, 12th November 2020

Source: www.theguardian.com

Recovery against insolvent estates – The 36 Group

‘Local authorities frequently have cause to seek recovery of sums owing from the estates of deceased persons, particularly (but not exclusively) in relation to care home fees owed by the deceased.’

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The 36 Group, 26th October 2020

Source: 36group.co.uk

Furlough and administration: when is a contract of employment ‘adopted’? – Exchange Chambers

‘The Coronavirus Job Retention Scheme (the scheme) has been ground breaking for employers, employees and administrators of insolvent companies, each of whom have swiftly adjusted to the practical and commercial effects of the scheme. The scheme very quickly gave rise to applications to the High Court, by administrators of high-profile companies, for directions as to whether a contract of employment of a “furloughed employee” had been “adopted” by an administrator. If it was, the “wages or salary” (which are defined by paragraph 99(6) of schedule B1 of the Insolvency Act 1986 (the Act) to include holiday pay and sick pay) would have super-priority over (a) the administrators’ remuneration and (b) a floating charge, under paragraph 99(3) and (4) of schedule B1 of the Act.’

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Exchange Chambers, 13th October 2020

Source: www.exchangechambers.co.uk

Successful adjudication enforcement in favour of an insolvent company – Practical Law: Construction Blogger

‘Hot on the heels of the Supreme Court’s decision in Bresco Electrical Services Ltd v Michael J Lonsdale (Electrical) Ltd, in what may be the first summary judgment to enforce an adjudicator’s decision in favour of a party in administration, we have successfully represented the claimant in Styles and Wood Ltd (in administration) (S&W) v GE CIF Trustees Ltd.’

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Practical Law: Construction Blog, 1st October 2020

Source: constructionblog.practicallaw.com

Re Debenhams Retail: do the wages of furloughed employees enjoy super priority in an insolvency? – Hardwicke Chambers

‘The Appellants were the Joint Administrators of Debenhams Retail Ltd (“the Company”), which had entered into administration on 9 April 2020. This had followed decisions in late March to place some 14,000 of its employees on furlough under the Government’s Coronavirus Job Retention Scheme (“the Scheme”).’

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Hardwicke Chambers, 11th August 2020

Source: hardwicke.co.uk

Dealing with estate administration – Family Law

‘It is the job of Executors (appointed under a Will) or Administrators (entitled by law where there is no Will) to deal with administering the estate of someone who has died.’

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Family Law, 22nd May 2020

Source: www.familylaw.co.uk

The Court of Appeal provides confirmation on the implications of the use of the Government’s coronavirus job retention scheme by companies in administration: Re Debenhams Retail Limited [2020] EWCA Civ 600 – Radcliffe Chambers

‘In a judgment handed down on 6th May 2020 in Re Debenhams Retail Ltd (in administration) [2020] EWCA Civ 600, the Court of Appeal provided confirmation on the implications for office holders and insolvent estates of using the Government’s Coronavirus Job Retention Scheme in administrations, following the previous first instance decisions on the issue in Re Carluccio’s Ltd [2020] EWHC 886 (Ch) and Re Debenhams Retail Ltd [2020] EWHC 921 (Ch). Matthew Weaver considers the judgment and its implications in this briefing.’

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Radcliffe Chambers, 13th May 2020

Source: radcliffechambers.com

Insolvency Administrations Under the Coronavirus Lockdown – Thomas More Chambers

‘Insolvency administrators often like to compare their salvage missions to the activity of fungi in recycling dying matter. Administrators, like fungi, earn a living by grappling with the products of decay, taking apart dying businesses and, where possible, identifying, reconstituting and revivifying the most promising bits.’

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Thomas More Chambers, 20th April 2020

Source: www.thomasmore.co.uk

Sign of the times: Debenhams Retail Ltd (in administration): Administrators and furlough arrangements – Exchange Chambers

‘It is a sign of the times that there have been two urgent applications to the High Court of Justice for directions by administrators in respect of furlough arrangements in the course of one week. Each application has concerned high profile companies employing vast numbers of people. The financial implications of the issues before the court in each case are significant for both employees and administrators.’

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Exchange Chambers, 22nd April 2020

Source: www.exchangechambers.co.uk

The consequences for administrators of furloughing employees – further clarification: Re Debenhams Retail Limited [2020] EWHC 921 (Ch) – Radcliffe Chambers

‘In a judgment dated 17th April 2020 in Re Debenhams Retail Limited (in administration) [2020] EWHC 921 (Ch), Trower J determined an application for directions by the joint administrators of Debenhams which concerned the impact of the application of the Government’s Coronavirus Job Retention Scheme in administrations and the recent decision of Snowden J in Re Carluccio’s Limited (in administration) [2020] EWHC 886 (Ch). Matthew Weaver considers Trower J’s judgment and its implications in this briefing.’

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Radcliffe Chambers, 21st April 2020

Source: radcliffechambers.com

Re Carluccio’s Limited (in Administration) – Pump Court Chambers

‘It should be noted from the outset that Snowden J’s judgment in Re Carluccio’s is not binding. There were no representative employees or interested parties during the remote video hearing so the judgment does not bind the employees or the government.’

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Pump Court Chambers, 22nd April 2020

Source: www.pumpcourtchambers.com

‘Light Touch’ Administration as a Rescue Tool – 3 Hare Court

‘On the 28 March 2020, the Department for Business, Energy, and Industrial Strategy announced a series of insolvency legislation reforms including a new court based restructing tool modelled on the Scheme of Arrangement and a short business moratorium to protect companies facing the prospect of insolvency as a result of the Covid-19 crisis.’

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3 Hare Court, 20th April 2020

Source: www.3harecourt.com

Use of the Government’s coronavirus job retention scheme by companies in administration: Re Carluccio’s Limited [2020] EWHC 886 (Ch) – Radcliffe Chambers

‘In a judgment handed down on Monday 13th April 2020 in Re Carluccio’s Limited (in administration) [2020] EWHC 886 (Ch), Snowden J considered the application of the Government’s Coronavirus Job Retention Scheme in administrations both as a matter of principle and in respect of the logistics and practicalities involved for office holders. Matthew Weaver considers the judgment and its implications in this briefing.’

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Radcliffe Chambers, 16th April 2020

Source: radcliffechambers.com

Carluccio’s, Covid-19 and Catch 22: The Furlough Scheme and paragraph 99(5) of Schedule B1 to the Insolvency Act 1986 – Hardwicke Chambers

‘The judgment Re Carluccio’s Ltd [2020] EWHC 886 (Ch) provides some much-needed clarity on the interrelation of the Furlough Scheme and the requirements of insolvency legislation. It is to be commended for its clarity and for the fact that it had to construe the workings of the Furlough Scheme in the absence of any statutory guidance as to its implementation. It is to be hoped that, when the Government comes to enact the necessary legislative measures (including perhaps amendments to Schedule B1 and IR 2016), that it does so with this judgment very firmly in mind.’

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Hardwicke Chambers, 14th April 2020

Source: hardwicke.co.uk

Carluccio’s Limited (in administration) [2020] EWHC 886 (Ch). The first judicial decision on the Government’s Furlough Scheme – Parklane Plowden

‘In a judgment handed down by Snowden J on a bank holiday on 13 April 2020 in the matter of Carluccio’s Limited (in administration) [2020] EWHC 886 (Ch), we have the first decision regarding the application of the Government’s Coronavirus Job Retention Scheme (“the Scheme”). The Scheme allows employers to claim for 80% of an employee’s salary (up to a maximum of £2500 per month) if staff are kept on the books doing no work (furloughed) rather than dismissed as redundant.’

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Parklane Plowden, 16th April 2020

Source: www.parklaneplowden.co.uk