‘In a complex piece of litigation in which international fraud is alleged, four defendants contested the jurisdiction of the English courts to hear the claims and the associated insolvency applications. Applying the two-stage test in Spiliada Maritime Corp v Cansulex Ltd [1987], the Court dismissed the applications.’
Mills & Reeve, 3rd April 2023
Source: www.mills-reeve.com
‘In this post, Ingrida Jakuseva, a paralegal within the Litigation and Arbitration department at CMS, previews the decision awaited from the Supreme Court in R (on the application of Palmer) v Northern Derbyshire Magistrates Court and Anor. The application for permission to appeal will be heard by the Supreme Court on 8 March 2023.’
UKSC Blog, 1st March 2023
Source: ukscblog.com
‘The takeover of the collapsed energy supplier Bulb in a deal which would create the UK’s third largest gas and electricity provider has been approved in a London court.’
The Guardian, 30th November 2022
Source: www.theguardian.com
‘The Insolvency and Companies Court has recognised Chapter 11 Proceedings in the US in respect of the manufacturer of controversial surgical mesh products which have generated a significant number of claims worldwide. The British Claimants have had their claims stayed as a result of this recognition.’
Gatehouse Chambers, 11th October 2022
Source: gatehouselaw.co.uk
“The Brake v Axnoller litigation reaches the Court of Appeal again, this time on the unlawful eviction claim concerning the cottage, which the Brakes had lost at first instance. In what is the stamp of this sprawling array of litigation, there are some deeply recherché issues of law. In a development that is less common, the Brakes partly won – though what the significance of this is remains deeply unclear.”
Nearly Legal, 16th October 2022
Source: nearlylegal.co.uk
“The Supreme Court has handed down a significant judgment in BTI 2014 LLC v Sequana SA. It addresses the existence, substance and circumstances of the ‘creditor duty’ – the duty of company directors to consider or act in accordance with the interests of companies’ creditors in the context of prospective insolvency.”
Law Society's Gazette, 14th October 2022
Source: www.lawgazette.co.uk
‘Company directors need to remain wary of their duty to consider the interests of creditors in certain circumstances, despite a new UK Supreme Court ruling that they are likely to welcome, experts have said.’
OUT-LAW.com, 10th October 2022
Source: www.pinsentmasons.com
‘This appeal raised questions of considerable importance for company law. It provides the first opportunity for the Supreme Court to consider the existence, content and engagement of the so-called “creditor duty”: the alleged duty of company directors to consider, or to act in accordance with, the interests of the company’s creditors when the company becomes insolvent, or when it approaches, or is at real risk of, insolvency.’
UKSC Blog, 5th October 2022
Source: ukscblog.com
‘I appreciate that some of you might be reading this blog on your summer holidays, so you may well have far better things to be doing with your time (ordering another piña colada perhaps?). I will therefore keep the blog short – what might be termed a “blogette”. As one would expect over the summer break, there haven’t been many reported TCC cases recently and so the case I want to discuss today is from June, namely ML Hart Builders Ltd (in liquidation) v Swiss Cottage Properties Ltd, which is a judgment of Mr Roger Ter Haar QC sitting as a deputy High Court judge.’
Practical Law: Construction Blog, 17th August 2022
‘A Lincoln student has been banned from running a company for 10 years after abusing a Covid recovery loan.’
BBC News, 8th August 2022
Source: www.bbc.co.uk
‘Despite the UK’s intention to be a global leader in cryptoassets, the courts are still wrestling with the basics: Rachel Coyle of 36 Commercial explains why it’s time to get to grips with the insolvency context.’
New Law Journal, 8th July 2022
Source: www.newlawjournal.co.uk
‘In its decision in Bresco v Lonsdale, the Supreme Court confirmed that insolvent companies have the statutory and contractual right to adjudicate construction disputes, even if that claim is affected by insolvency set-off.’
Practical Law: Construction Blog , 29th June 2022
‘The general rule created by section 111 of the Construction Act 1996 is well known: in the absence of a pay less notice, the notified sum is to be paid without set-off or deduction. Although this is capable of causing problems for an employer in the short term, any overpayments can usually be corrected in future payment cycles (whether interim or final) or by a true value adjudication (following S&T (UK) Ltd v Grove Developments Ltd).’
Practical Law: Construction Blog, 15th June 2022
‘The Court of Appeal has dismissed an attempt by solicitors to secure a £2m payment from an insolvent client for work carried out on a damages based agreement.’
Law Society's Gazette, 12th May 2022
Source: www.lawgazette.co.uk
‘On 19 January 2022, the Supreme Court heard the appeal in Stanford International Bank Ltd (In Liquidation) v HSBC Bank Plc. The appeal turns on whether a company in liquidation can be considered to have suffered loss where, while it is still trading, its bank pays money out of the company’s accounts to discharge debts owed by the company. It is likely that this case will further set out the limits of the Quincecare duty, following a spate of recent high-profile cases in this area.’
UKSC Blog, 26th April 2022
Source: ukscblog.com
‘The case of Levi Solicitors LLP v Wilson and another considered the impact of contractor insolvency on debts owed to an employer under a JCT contract.
Significantly, the court helpfully clarified how the payment regime under JCT contracts operated in the context of insolvency. This blog takes a closer look at the case.’
Practical Law: Construction Blog, 6th April 2022
‘Clare Mendelle and James Goldthorpe discuss how the insolvency of Farrar Construction leads to clarity from the Courts on dealing with an insolvent contractor under JCT.’
Local Government Lawyer, 11th March 2022
Source: www.localgovernmentlawyer.co.uk
‘An English High Court ruling in an insolvency case concerning a Joint Contracts Tribunal (JCT) Minor Works contract (2011) could apply to other standard form contracts in the same suite, a legal expert has said.’
OUT-LAW.com, 4th March 2022
Source: www.pinsentmasons.com
‘Clare Mendelle and Sarah Wertheim take a look at guidance provided by the Court of Appeal regarding security arrangements for insolvent claimants in the post-Bresco landscape.’
Local Government Lawyer, 12th November 2021
Source: www.localgovernmentlawyer.co.uk
‘In England and Wales, there should only be one bankruptcy petition against a debtor at any one time. As stated in Re Maud [2020] EWHC 1469 (also known as Edgeworth Capital (Luxembourg) Sarl v Maud)(‘Re Maud’), by Snowden J, at paragraph 98:
“Consistent with the principle that a bankruptcy petition is a class remedy, the legislation, rules and court practice are generally based upon the notion that there should only be one petition against a debtor at any one time.”‘
33 Bedford Row, 14th October 2021
Source: www.33bedfordrow.co.uk
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