‘The appeal to the Supreme Court in Sevilleja v Marex Financial Ltd [2020] UKSC 31 re-states the principle that a company’s shareholders cannot recover damages against a wrongdoer for loss which is “reflective” of a loss caused by the wrongdoer to the company itself.’
Hailsham Chambers, July 2020
Source: www.hailshamchambers.com
‘The Children’s Investment Fund Foundation is a charitable company with more than $4bn in assets helping children in developing countries. It was founded by Sir Christopher Hohn and Ms Jamie Cooper in 2002, but it became difficult to manage when their marriage broke down. These proceedings stem from the steps they took to resolve those difficulties. Specifically, they agreed that in exchange for a grant of $360 million to Big Win Philanthropy, a charity founded by Ms Cooper, she would resign as a member and trustee of CIFF.’
UKSC Blog, 29th July 2020
Source: ukscblog.com
‘The Supreme Court’s decision in Sevilleja v. Marex Financial Ltd, 15 July 2020, fundamentally restates the doctrine of reflective loss in company law so that:
A claim by a company’s creditor against a third party will not be barred where it reflects loss suffered by the company, even if the creditor is also a shareholder; and
There is no longer an exception to the doctrine where the wrongdoer has brought about the company’s impecuniosity.’
4 New Square, 17th July 2020
Source: www.4newsquare.com
‘The City regulator will on Monday begin a test case on behalf of thousands of businesses that claim they should have been paid by insurers to cover closures during the coronavirus pandemic.’
The Guardian, 20th July 2020
Source: www.theguardian.com
‘This article has been prepared by two barristers at 33 Bedford Row outlining the basic principles in relation to redundancy as well as calculation of any redundancy payment.’
33 Bedford Row, 30th June 2020
Source: www.33bedfordrow.co.uk
‘On 27 April 2020 the British Institute of International and Comparative Law (BIICL) published Breathing Space – a Concept Note on the effect of the pandemic on commercial contracts. The central thesis is that to mitigate the damaging effects of COVID-19 on the global economy, private law should encourage compromise and mediation rather than a zero-sum rush to terminate contracts and then to litigation and arbitration.
3 Hare Court, 29th June 2020
Source: www.3harecourt.com
‘In the past week, thousands of people have lost their jobs across the UK due to the impact of Covid-19.’
Each Other, 7th July 2020
Source: eachother.org.uk
‘In this case comment, Adrian Bell, Nigel Lewis, Steven Bell and Shona Frame, all partners within the CMS Infrastructure, Construction and Energy Disputes Group, comment on the decision handed down in June 2020 in the matter of Bresco Electrical Services Ltd (in liquidation) v Michael J Lonsdale (Electrical) Ltd [2020] UKSC 25.’
UKSC Blog, 1st July 2020
Source: ukscblog.com
‘Adjudication is a quick and comparatively cheap method of dispute resolution and for those reasons is attractive to insolvent companies seeking to recover debts. However, a respondent was likely to be able to restrain the insolvent company from referring the matter to adjudication on the basis that it would be futile to do so, since any positive decision was unlikely to be enforced as a result of the very fact of the company’s insolvency. Therefore, any award lacked practical utility. Following the decision of the Supreme Court in Bresco v Lonsdale, that is no longer the case.’
Hardwicke Chambers, 17th June 2020
Source: hardwicke.co.uk
‘This article intends to investigate probably well-rehearsed principles implied in bringing actions for personal injury against long-since defunct and even dissolved companies.’
Parklane Plowden Chambers, 10th June 2020
Source: www.parklaneplowden.co.uk
‘This summary gives a short overview of the Corporate Insolvency and Governance Bill, which was first read in the House of Commons
on 20 May 2020 and is intended to proceed to the House of Lords following its final stages in the House of Commons on 3 June 2020. This Bill represents the biggest reforms to the UK’s insolvency framework since the Enterprise Act in 2002. The aim is to allow more tools to rescue struggling companies as a going concern and help more businesses weather the COVID-19 storm and avoid entering an insolvency process.’
Radcliffe Chambers, 26th May 2020
Source: radcliffechambers.com
‘In the first of what is planned to be five updates on collective consultation under the shadow of the coronavirus pandemic, David Reade QC and Daniel Northall examine the employer’s proposal for redundancy and the start of collective consultation.’
Littleton Chambers, 11th May 2020
Source: littletonchambers.com
On 21 April 2020, Zacaroli J allowed an appeal brought against the decision of HHJ Saunders in Homes of England v Nick Sellman (Holdings) Limited. The case concerned Bromham Road Development LLP (BRD), a limited liability partnership which owned the freehold of a property situated at 51 Bromham Road, Bedford (the property). Homes of England (HoE) and Nick Sellman (Holdings) Limited (Holdings) are each 50% partners in BRD. HoE alleged that Holdings, in breach of duties of honesty and good faith owed to HoE, and in breach of a duty to act in the best interests of BRD, delayed in executing documentation required to refinance the property. HoE alleged that this delay increased the amount required to redeem BRD’s original loan from Wellesley Finance plc by £206,933.21.
Hardwicke Chambers, 1st May 2020
Source: hardwicke.co.uk
‘Countries around the globe have been grappling with the fallout from the Covid-19 pandemic. Amongst many issues the crisis has thrown up is the issue of how to deal with companies which suffer from solvency issues as a result of the pandemic, or government measures taken in response to the pandemic. The response of different jurisdictions has varied, as has the speed of the response. This article looks at the UK’s likely response and how it compares to other jurisdictions.’
3 Hare Court, 23rd April 2020
Source: www.3harecourt.com
‘This article is the second in a series from Hailsham Chambers addressing insurance implications from the current Covid-19 situation. It explores various causation, mitigation and quantum issues that are likely to arise in that litigation.’
Hailsham Chambers, April 2020
Source: www.hailshamchambers.com
‘The rules of the government’s job retention scheme are complex. We put your questions to an employment specialist to cut through the confusion.’
The Guardian, 3rd May 2020
Source: www.theguardian.com
‘Britain’s financial watchdog is urgently seeking clarity from the courts over the insurance rights of companies whose business has been disrupted by the Covid-19 pandemic.’
The Guardian, 1st May 2020
Source: www.theguardian.com
‘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.’
Thomas More Chambers, 20th April 2020
Source: www.thomasmore.co.uk
‘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.’
Exchange Chambers, 22nd April 2020
Source: www.exchangechambers.co.uk
‘Given the scale of the damage to the UK economy which the pandemic continues to cause, it is unsurprising that a large number of claims has already arisen. We can expect considerable litigation, not least because individual claims will turn on their particular facts and the precise policy wording employed. Further, the problems associated with these claims place a spotlight on the potential liability of brokers. Nonetheless, certain general points and themes can be discussed at a high level.’
Hailsham Chambers, April 2020
Source: www.hailshamchambers.com
© Inner Temple Library 2023