New Judgment: Dooneen Ltd (t/a McGinness Associates) & Anor v Mond [2018] UKSC 54 – UKSC Blog

Posted November 1st, 2018 in appeals, compensation, debts, insurance, news, Supreme Court, trustees in bankruptcy by sally

‘This appeal considered the construction of the expression ‘final distribution’ in a voluntary trust deed for creditors, and whether this includes a distribution made when the creditors receive less than 100 pence in the pound and there remain (following that distribution) assets vested in the trustee, albeit the trustee is unaware of their existence.’

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UKSC Blog, 31st October 2018

Source: ukscblog.com

Claimants who discontinued huge case during trial ordered to pay indemnity costs – Litigation Futures

Posted October 19th, 2018 in bankruptcy, civil procedure rules, costs, debts, indemnities, insolvency, news by sally

‘Claimants who discontinued their case four days into a six-week trial have been ordered to pay the defendants’ costs on the indemnity basis because their conduct took it ‘out of the norm’.’

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Litigation Futures, 19th October 2018

Source: www.litigationfutures.com

HMRC seizes assets from almost 3,000 businesses as government ramps up pressure on late tax payment – The Independent

Posted October 15th, 2018 in assets recovery, debts, HM Revenue & Customs, news, repayment, statistics, taxation by tracey

‘HM Revenue and Customs seized assets from 2,833 businesses last year as the government ramps up pressure on firms not paying tax on time. The number of firms facing asset seizures jumped 45 per cent from 2016/17 and has increased more than fourfold since 2014/15.’

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The Independent, 15th October 2018

Source: www.independent.co.uk

Divorce & Financial Remedy Update, October 2018 – Family Law Week

‘Naomi Shelton, Associate, Mills & Reeve LLP considers the news and case law relating to financial remedies and divorce during September 2018.’

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Family Law Week, 2nd October 2018

Source: www.familylawweek.co.uk

Reforms to improve enforcement of family financial orders fall short – OUT-LAW.com

Posted August 22nd, 2018 in debts, divorce, enforcement, financial provision, Law Commission, news by sally

‘Plans to make it easier for divorcees to enforce financial orders of the courts in England and Wales do not go far enough to address the challenges those divorcees face in obtaining access to offshore assets of high net worth individuals.’

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OUT-LAW.com, 20th August 2018

Source: www.out-law.com

Government agrees to improve financial order enforcement – Family Law

Posted August 21st, 2018 in debts, divorce, enforcement, financial provision, Law Commission, news by sally

‘The Law Commission has announced that the Government has agreed to help improve financial orders enforcement following its report published in 2016. The Government has committed to bringing forward non-legislative measures in order to reform and improve the enforcement system, as well as taking time to consider further reform in the future.’

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Family Law, 17th August 2018

Source: www.familylaw.co.uk

Tougher regulation of bailiffs urged as debt levels rise – BBC News

Posted August 21st, 2018 in bailiffs, citizens advice bureaux, debts, enforcement, local government, news by sally

‘A charity has called for tougher regulation of bailiffs, as it calculated that households have fallen behind on essential bills by £18.9bn.’

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BBC News, 21st August 2018

Source: www.bbc.co.uk

Families of missing people struggle with mounting debts as new powers to let them manage affairs are delayed – Daily Telegraph

Posted July 2nd, 2018 in debts, families, missing persons, news by sally

‘Families of missing people are struggling to deal with mounting debts as the Government delays new powers to enable them to manage their loved one’s affairs.’

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Daily Telegraph, 1st July 2018

Source: www.telegraph.co.uk

Grove v S&T cited as court dismisses winding up petition (Chancery Division) – Practical Law: Construction Blog

Posted June 22nd, 2018 in contracts, debts, news, winding up by tracey

‘In Victory House General Partner Ltd, Re A Company [2018] EWHC 1143 (Ch), the court dismissed a party’s winding-up petition as the employer’s cross-claim was bona fide and the debt was disputed on substantial grounds.’

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Practical Law: Construction Blog, 22nd June 2018

Source: uk.practicallaw.thomsonreuters.com

Family’s £15k debt from fight against Section 322(5) immigration rule – BBC News

Posted June 21st, 2018 in debts, deportation, immigration, news, passports, taxation by tracey

‘A family say they have been left £15,000 in debt, without passports and unable to register their son as British because of the Home Office’s actions. The Bristol couple are among 1,000 highly-skilled migrants said to be facing deportation because of how the government has applied immigration law. Home Secretary Sajid Javid has ordered a review into use of Section 322(5).’

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BBC News, 21st June 2018

Source: www.bbc.co.uk

Fake bomb detector seller James McCormick jailed again – BBC News

Posted April 26th, 2018 in confiscation, debts, fraud, news, sentencing by sally

‘A fraudster jailed for selling fake bomb detectors to war-torn countries has received two more years in prison for failing to pay back nearly £2m.’

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BBC News, 25th April 2018

Source: www.bbc.co.uk

Aggressive bailiff behaviour remains ‘lingering concern’ – MoJ review – BBC News

Posted April 3rd, 2018 in bailiffs, debts, enforcement, harassment, news, reports by sally

‘Concerns persist over bailiffs using aggressive behaviour to pursue debts despite a legal crackdown, a Ministry of Justice (MoJ) report has found.’

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BBC News, 2nd April 2018

Source: www.bbc.co.uk

Low salaries dog debt-ridden young legal aid lawyers, says social mobility report – Legal Futures

Posted March 14th, 2018 in debts, legal aid, legal profession, news, remuneration by sally

‘More than half of young legal aid lawyers are earning less than £25,000 a year, yet more than a quarter start their careers carrying more than £35,000 debt as a result of their education, according to a survey of lawyers in the sector.’

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Legal Futures, 14th March 2018

Source: www.legalfutures.co.uk

High Court says it cannot permanently stay enforcement of English law debt obligations in favour of a foreign insolvency proceeding – OUT-LAW.com

Posted February 6th, 2018 in banking, debts, enforcement, foreign jurisdictions, insolvency, news by tracey

‘The High Court has said that it could not impose a permanent moratorium against creditor action in England and Wales where the foreign restructuring of an Azerbijan bank had been recognised as a foreign main proceeding under the Cross-Border Insolvency Regulations.’

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OUT-LAW.com, 5th February 2018

Source: www.out-law.com

Debt is not a crime: reviewing imprisonment for council tax non-payment – Legal Voice

Posted December 20th, 2017 in council tax, debts, imprisonment, news by sally

‘Being in debt is not a crime. So why are nearly 100 people a year sent to prison for falling behind on council tax payments?’

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Legal Voice, 19th December 2017

Source: www.legalvoice.org.uk

A Ghost from the Past with Lessons for the Future? Grounds for a debtor’s petition under s 272(1) of the Insolvency Act 1986 – Hardwicke Chambers

Posted November 24th, 2017 in bankruptcy, debts, domicile, news by sally

‘On 20 October 2017 Registrar Derrett handed down judgment in the case of Thomas v Haederle (unreported), in which she gave reasons for dismissing a bankruptcy petition presented by the debtor (T) in the County Court at Norwich on 4 December 2014, pursuant to s 272 of the Insolvency Act 1986 (IA86), as it then was.’

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Hardwicke Chambers, 2nd November 2017

Source: www.hardwicke.co.uk

Treat Insolvency Rules as ‘a complete code’ for payment of statutory interest, rules Court of Appeal – OUT-LAW.com

‘The Court of Appeal has determined the extent of creditors’ entitlements to statutory interest on their debts and the correct approach for calculating their entitlement. It has ruled on the entitlement of representative creditors of Lehman Brothers International (Europe) (LBIE) to the surplus funds and on the calculation of the statutory interest due to them.’

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OUT-LAW.com, 10th November 2017

Source: www.out-law.com

Legal costs capped for those who can’t pay energy bills – The Guardian

Posted November 10th, 2017 in costs, debts, news, utilities, warrants by tracey

‘Gas and electricity customers who have fallen so far behind with their payments that they are forced to have a prepayment meter, are to have their court and legal charges capped at £150 by the energy regulator.’

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The Guardian, 10th November 2017

Source: www.theguardian.com

The Jackson effect: One costs firm set to close as another leaves debt behind in administrator sale – Litigation Futures

Posted October 30th, 2017 in costs, debts, insolvency, law firms, legal services, news by sally

‘The harsh impact of the Jackson reforms on the costs world is on display today as we reveal that one costs business is closing down, while it has emerged that another has been reborn after the directors bought the assets, files and outstanding WIP from its joint administrators.’

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Litigation Futures, 30th October 2017

Source: www.litigationfutures.com

Pre-Action Protocol for Debt Claims – Part II – 4 KBW

Posted October 4th, 2017 in civil procedure rules, debts, news, pre-action conduct by sally

‘On 1st October 2017, the Pre-Action Protocol for Debt Claims, (the “Protocol”) is to come into force. This raises the question: what is a ‘debt’? For this Protocol, the only ‘guidance’ provided is on the Information Sheet (Annex 1), “you have received this [notice] because a business believes that you owe it money”. None of the draft or consultation papers provide further guidance or seek to define the term ‘debt’ under English law.’

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4 KBW, 22nd September 2017

Source: www.4kbw.net