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

HSBC Bank plc v Tambrook Jersey Ltd – WLR Daily

HSBC Bank plc v Tambrook Jersey Ltd [2013] EWHC 866 (Ch); [2013] WLR (D) 146

“The English court could not “assist” a foreign insolvency court for the purposes of section 426(4) of the Insolvency Act 1986 where there were no existing insolvency proceedings in the foreign jurisdiction or any intention to commence such proceedings.”

WLR Daily, 12th April 2013

Source: www.iclr.co.uk

Joint Administrators of Heritable Bank plc v Winding Up Board of Landsbanki Islands Hf – WLR Daily

Joint Administrators of Heritable Bank plc v Winding Up Board of Landsbanki Islands Hf [2013] UKSC 13; [2013] WLR (D) 85

“The decision of a court in another member state of the European Economic Area in relation to the insolvency of a credit institution in that state had effect in the United Kingdom in relation to any of that institution’s branches in the United Kingdom as if it were part of the general insolvency law of the United Kingdom. However the decision of that court did not have any effect on proceedings in an United Kingdom court dealing with the insolvency of an United Kingdom credit institution so that all the defences available under United Kingdom insolvency law could be invoked.”

WLR Daily, 27th February 2013

Source: www.iclr.co.uk

In re Coniston Hotel (Kent) LLP (in liquidation) Bernsten and another v Tait and another – WLR Daily

Posted February 11th, 2013 in administrators, compensation, insolvency, law reports, news, pleadings by sally

In re Coniston Hotel (Kent) LLP (in liquidation) Bernsten and another v Tait and another [2013] EWHC 93 (Ch); [2013] WLR (D) 46

“Points of claim in insolvency proceedings should concisely set out every fact necessary to establish the legal basis for the relief sought but with a degree of particularity to enable those responding to understand the nature of the case.”

WLR Daily, 1st February 2013

Source: www.iclr.co.uk

In re MF Global UK Ltd (in special administration); Heis and others v MF Global Inc – WLR Daily

Posted November 6th, 2012 in administrators, insolvency, law reports by sally

In re MF Global UK Ltd (in special administration); Heis and others v MF Global Inc [2012] EWHC 3068 (Ch); [2012] WLR (D) 304

“The appointment of an investment bank administrator under the Investment Bank Special Administration Regulations 2011 was not analogous to the appointment of a liquidator.”

WLR Daily, 1st November 2012

Source: www.iclr.co.uk

Governor & Company of the Bank of Ireland and another v Colliers International UK plc (in administration) and others – WLR Daily

Posted October 26th, 2012 in administrators, insolvency, jurisdiction, law reports, retrospectivity by tracey

Governor & Company of the Bank of Ireland and another v Colliers International UK plc (in administration) and others: [2012] EWHC 2942 (Ch);   [2012] WLR (D)  288

“The court had jurisdiction under paragraph 43(6) of Schedule B1 to the Insolvency Act 1986 to give permission retrospectively to institute legal proceedings against a company in administration.”

WLR daily, 24th October 2012

Source: www.iclr.co.uk

In re Euromaster Ltd – WLR Daily

Posted September 7th, 2012 in administrators, insolvency, law reports, time limits by tracey

In re Euromaster Ltd: [2012] EWHC 2356 (Ch);   [2012] WLR (D)  258

“If the appointment of an administrator was made in breach of the restriction in paragraph 28(2) of Schedule B1 to the Insolvency Act 1986, the appointment was irregular, but valid. In the case of an irregular (as opposed to a void) appointment of administrators the position was governed by rule 7.55 of the Insolvency Rules 1986.”

WLR Daily, 10th August 2012

Source: www.iclr.co.uk

Court does not clear up confusion over ‘deficient’ legislation, says expert – OUT-LAW.com

“A recent High Court decision which appears to confirm that the failure to serve notice of intention to appoint an administrator on the relevant company does not invalidate the appointment leaves unanswered questions, a restructuring law expert has said.”

Full story

OUT-LAW.com, 6th August 2012

Source: www.out-law.com

International Leisure Ltd and another v First National Trustee Co UK Ltd and others – WLR Daily

Posted July 18th, 2012 in administrators, company law, compensation, law reports, striking out by tracey

International Leisure Ltd and another v First National Trustee Co UK Ltd and others: [2012] EWHC 1971 (Ch);  [2012] WLR (D)  208

“The rule against reflective loss and the extent to which a shareholder could sue for loss primarily suffered by and primarily belonging to a company did not extend to loss suffered by holders of a debenture.”

WLR Daily, 16th July 2012

Source: www.iclr.co.uk

In re MK Airlines Ltd (in liquidation); MK Airlines Property Ltd (in administration) v Katz and another – WLR Daily

Posted May 18th, 2012 in administrators, insolvency, law reports, leases, rent by sally

In re MK Airlines Ltd (in liquidation); MK Airlines Property Ltd (in administration) v Katz and another [2012] WLR (D) 147

“Arrears of rent due during the provisional liquidation period were to be treated as an expense of the liquidation and payable in priority to most other liquidation expenses.”

WLR Daily, 16th May 2012

Source: www.iclr.co.uk

Bootes and others v Ceart Risk Services Ltd – WLR Daily

Posted May 9th, 2012 in administrators, financial regulation, insolvency, law reports by sally

Bootes and others v Ceart Risk Services Ltd [2012] EWHC 1178 (Ch); [2012] WLR (D) 136

“A failure to comply with section 362A of the Financial Services and Markets Act 2000 in the appointment of administrators did not necessarily invalidate that appointment irreparably.”

WLR Daily, 25th April 2012

Source: www.iclr.co.uk

Will writing: call for industry-wide regulation – The Guardian

Posted April 23rd, 2012 in administrators, consumer protection, Legal Services Board, news, wills by sally

“All firms offering will writing and estate administration should be regulated to protect consumers from falling victim to fraudsters and cowboy companies offering badly drafted documents, according to latest research.”

Full story

The Guardian, 23rd April 2012

Source: www.guardian.co.uk

Metals trader fraudster given extra seven years – The Guardian

Posted February 25th, 2012 in administrators, assets recovery, fraud, news, sentencing by tracey

“Viren Rastogi, the London metals trading tycoon behind one of Britain’s biggest ever frauds, has been ordered to serve seven years behind bars on top of an initial sentence of nine-and-a-half years because he has failed to return millions of pounds defrauded from 20 international banks.”

Full story

The Guardian, 24th February 2012

Source: www.guardian.co.uk

Costs, Expenses and Provable Debts – Hardwicke Chambers

Posted February 15th, 2012 in administrators, costs, debts, expenses, insolvency, news by sally

“October last year saw the decision of the Court of Appeal in litigation arising from the administrations of Nortel and Lehman Brothers (Re Nortel GMBH [2011] EWCA Civ 1124). The case concerned the treatment of contribution notices from the Pensions Regulator by the administrators. However, for those who ventured beyond mention of the Pensions Regulator, the decision contains a useful review of the law pertaining to whether liabilities fall as provable debts or expenses of the insolvency process.”

Full story

Hardwicke Chambers, 8th February 2012

Source: www.hardwicke.co.uk

Schmitt v Deichmann and others – WLR Daily

Posted January 25th, 2012 in administrators, foreign companies, fraud, insolvency, jurisdiction, law reports by sally

Schmitt v Deichmann and others [2012] EWHC 62 (Ch); [2012] WLR (D) 8

“The court had an inherent jurisdiction under the common law to permit the statutory power under section 423 of the Insolvency Act 1986, preventing transactions defrauding creditors, to be applied to a foreign administrator not falling within the express scope of the 1986 Act.”

WLR Daily, 23rd January 2012

Source: www.iclr.co.uk

In re Bezier Acquisitions Ltd – WLR Daily

Posted December 14th, 2011 in administrators, insolvency, law reports by sally

In re Bezier Acquisitions Ltd [2011] EWHC 3299 (Ch); [2011] WLR (D) 362

“Rule 2.8 of the Insolvency Rules 1986 did not provide a complete and exhaustive code as to service of a notice of intention to appoint administrators.”

WLR Daily, 12th December 2011

Source: www.iclr.co.uk

Finnerty and another v Clark and another; In re St George’s Property Services (London) Ltd (in administration) – WLR Daily

Posted July 26th, 2011 in administrators, appeals, insolvency, law reports by tracey

Finnerty and another v Clark and another; In re St George’s Property Services (London) Ltd (in administration) [2011] EWCA Civ 858;  [2011] WLR (D)  246

“The administrators of an insolvent company were the officers of the court with statutory powers to exercise their discretion to act for the interests of the creditors as a whole. The court had statutory power to removal and replace the administrators, but it had first to be established by the evidence that there was a good or sufficient ground or cause for the removal and replacement. Only then could the court properly proceed to consider the exercise of its discretion by having regard to all the relevant factors for and against an order for removal, such as the beneficial consequences of success in possible legal proceedings.”

WLR Daily, 21st July 2011

Source: www.iclr.co.uk

 

In re Frontsouth (Witham) Ltd (in administration) and Bridge Hospital (Witham) Ltd (in administration) – WLR Daily

Posted July 5th, 2011 in administrators, insolvency, law reports by sally

In re Frontsouth (Witham) Ltd (in administration) and Bridge Hospital (Witham) Ltd (in administration) [2011] EWHC 1668 (Ch); [2011] WLR (D) 215

“Rule 7.55 of the Insolvency Rules 1986 could not be used by the court to waive defects of a relatively technical nature in the out of court appointment of administrators and such a change should only be brought about by legislation.”

WLR Daily, 30th June 2011

Source: www.iclr.co.uk

Millburn-Snell and others v Evans – WLR Daily

Millburn-Snell and others v Evans [2011] EWCA Civ 577; [2011] WLR (D) 179

“To bring a claim on behalf of an intestate’s estate a claimant should first obtain a grant of administration as a claim purportedly brought by a claimant without a grant of administration was an incurable nullity. CPR r 19.8(1) did not confer on the court jurisdiction to correct deficiencies in the manner in which proceedings had been instituted. It was concerned only with directions for the forward prosecution towards trial of validly instituted proceedings.”

WLR Daily, 25th May 2011

Source: www.iclr.co.uk

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

In re Nortel GmbH and related companies; In re Lehman Brothers International (Europe) (in administration) and related companies – WLR Daily

Posted December 14th, 2010 in administrators, contribution, debts, insolvency, law reports by sally

In re Nortel GmbH and related companies; In re Lehman Brothers International (Europe) (in administration) and related companies [2010] EWHC 3010 (Ch); [2010] WLR (D) 324

“Liabilities arising from the financial support direction (‘FSD’) regime created by the Pensions Act 2004 upon companies in administration or liquidation were payable as a liquidation or administration expense.”

WLR Daily, 13th December 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