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

Revenue and Customs Comrs v Maxwell and another – WLR Daily

Posted December 9th, 2010 in administrators, company law, debts, insolvency, law reports by sally

Revenue and Customs Comrs v Maxwell and another [2010] EWCA Civ 1379; [2010] WLR (D) 219

“The amount of a creditor’s claim against a company in administration and the characterisation of the company’s debt to the creditor were to be assessed under r 2.38(4) and (5) of the Insolvency Rules 1986 at the date of the administration, not the date of the creditors’ meeting, but the chairman’s powers of quantification under rr 2.39(1) and (3) and 2.38(5) were to be exercised taking into account events which had occurred since the administration.”

WLR Daily, 8th 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.

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

Posted October 18th, 2010 in administrators, insolvency, law reports by sally

Clark and another v Finnerty and another; In re St George’s Property Services (London) Ltd [2010] EWHC 2538 (Ch); [2010] WLR (D) 255

“Considerations that the institution of proceedings for relief under s 244 of the Insolvency Act 1986 in respect of a transaction to which the company was a party was extortionate when the issue was only triable and the consequences of thereby rescuing the company less than reasonably practicable were relevant to the existence or otherwise of good reason to remove the administrators under para 88 of Sch B1 to the Act but were not themselves sufficient to preclude good or sufficient reason.”

WLR Daily, 14th October 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.