In re MF Global UK Ltd (No 4) (in special administration); Heis and others v Attestor Value Master Fund LP and another – WLR Daily

Posted September 2nd, 2013 in administrators, breach of trust, contracts, insolvency, law reports by sally

In re MF Global UK Ltd (No 4) (in special administration); Heis and others v Attestor Value Master Fund LP and another [2013] EWHC 2556 (Ch); [2013] WLR (D) 339

“For the purposes of the client money rules and the client money distribution rules contained in the Client Assets Sourcebook, CASS 7 and 7A a client’s contractual claim and the amount for which it might prove in respect of such claim fell to be reduced by the amount of any actual or anticipated distribution from the client money pool. The client could not prove for both a claim resulting from a shortfall in the client money trust and the balance of its contractual claim where the shortfall claim did not exceed the contractual claim. However, the rule against double proof did not prevent a claim by a client in respect of a shortfall in payment of its client money entitlement to the extent that it exceeded its contractual claim or in a case where the client had no contractual claim.”

WLR Daily, 16th August 2013

Source: www.iclr.co.uk

Regina (Nash) v Barnet London Borough Council – WLR Daily

Regina (Nash) v Barnet London Borough Council [2013] EWCA Civ 1004; [2013] WLR (D) 335

“A local authority’s duty to consult under section 3(2) of the Local Government Act 1999 arose at a formative stage of the relevant process when the authority made arrangements to secure continuous improvement in the way in which its functions were exercised within section 3(1) of the Act. For the purposes of CPR r 54.5, a judicial review claim challenging the authority’s lack of consultation had to be brought within three months of the date when the grounds to make the claim had first arisen. That was the date the defendant authority had taken the decision to enter the procurement process for outsourcing, and since the claim had not been issued until the decision to enter into the contracts had been taken, it was out of time.”

WLR Daily, 2nd August 2013

Source: www.iclr.co.uk

High Court rejects challenge to maximum expenditure policy on adult care – Local Government Lawyer

“A High Court judge has rejected claims that a council unlawfully decided to introduce a ‘maximum expenditure policy’ on funding for adult care packages where people choose to live in the community.”

Full story

Local Government Lawyer, 12th August 2013

Source: www.localgovernmentlawyer.co.uk

High Court ruling establishes certainty for members of underfunded pension schemes on company insolvency, says expert – OUT-LAW.com

Posted August 5th, 2013 in administrators, debts, insolvency, news, pensions by sally

“It would be ‘unprincipled’ to allow administrators of an insolvent company to use money ring-fenced for the purposes of its underfunded pension scheme to settle their debt to the scheme’s trustees, the High Court has ruled.”

Full story

OUT-LAW.com, 2nd August 2013

Source: www.out-law.com

Nortel / Lehman Supreme Court decision: guidance on insolvency expenses and provable claims – 11 Stone Buildings

Posted July 31st, 2013 in administrators, debts, expenses, insolvency, news, pensions by sally

“The Supreme Court ruled today that sums claimed under a Financial Support Direction of the Pensions
Regulator that is issued after a company’s entry to insolvency will rank as provable debts. It disagreed with both the High Court and a unanimous Court of Appeal, which had held that sums claimed under such a FSD were payable as insolvency expenses. The Supreme Court also rejected an argument that such a claim ranked below ordinary creditors as a non-provable liability.”

Full story (PDF)

11 Stone Buildings, 24th July 2013

Source: www.11sb.com

Council loses Supreme Court appeal over disclosure of equal pay data – Local Government Lawyer

“The Supreme Court has rejected an appeal by a council against disclosure of information on equal pay.”

Full story

Local Government Lawyer, 29th July 2013

Source: www.localgovernmentlawyer.co.uk

In the matter of the Nortel Companies; In the matter of the Lehman Companies; In the matter of the Lehman Companies No 2 – Supreme Court

Posted July 29th, 2013 in administrators, contribution, debts, expenses, insolvency, law reports, pensions by sally

In the matter of the Nortel Companies; In the matter of the Lehman Companies; In the matter of the Lehman Companies No 2 [2013] UKSC 52 (YouTube)

Supreme Court, 24th July 2013

Source: www.youtube.com/user/UKSupremeCourt

R (on the application of Modaresi) (FC) (Appellant) v Secretary of State for Health (Respondent) – Supreme Court

R (on the application of Modaresi) (FC) (Appellant) v Secretary of State for Health (Respondent) [2013] UKSC 53 | UKSC 2012/0069 (YouTube)

Supreme Court, 24th July 2013

Source: www.youtube.com/user/UKSupremeCourt

Regina (Government Actuary’s Department) v Pensions Ombudsman – WLR Daily

Regina (Government Actuary’s Department) v Pensions Ombudsman: [2013] EWCA Civ 901; [2013] WLR (D) 298

“The Government Actuary’s Department performed an important proactive role, by producing and from time to time revising the actuarial tables, which was central to the administration and proper operation of the firefighters’ public sector pension scheme, and as such was ‘concerned with the … administration of … the scheme’, within the meaning of section 146(4)(b) of the Pension Schemes Act 1993, as substituted.”

WLR Daily, 22nd July 2013

Source: www.iclr.co.uk

Game “rent on administration” case to be fast-tracked to the Court of Appeal – OUT-LAW.com

Posted July 3rd, 2013 in administrators, appeals, expenses, insolvency, landlord & tenant, news, rent by sally

“Landlords pursuing the administrators of Game for millions of pounds in rent that went unpaid while the retailer was insolvent will have their case fast-tracked to the Court of Appeal, according to press reports.”

Full story

OUT-LAW.com, 2nd July 2013

Source: www.out-law.com

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