Substantial Disposals by Administrators in the First Eight Weeks: When is the purchaser a “connected person” and when is an evaluator independent? – Wilberforce Chambers

Posted May 2nd, 2024 in administrators, chambers articles, company law, insolvency, news by sally

‘David Pollard has published a three part article on Substantial Disposals by Administrators in the First Eight Weeks: When is the purchaser a “connected person” and when is an evaluator independent?

Published in the journal International Corporate Rescue, it discusses the statutory tests applicable when an administrator of a company seeks to make a substantial disposal during the first eight weeks of an administration under the Insolvency Act 1986.’

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Wilberforce Chambers, 29th April 2024

Source: www.wilberforce.co.uk

When is an administrator an ‘officer’ of the company? – Legal Studies

‘When a company becomes insolvent, particularly if it is a large company, this will often mean that there will be a large-scale redundancy process. The requirements of the process can be technical, but there is a list of obligations that must be adhered and these are set out within the Trade Union and Labour Relations (Consolidation) Act 1992 (TULRCA 1992).’

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Legal Studies, 19th April 2024

Source: www.cambridge.org

Former administrators have standing to apply for additional remuneration but application dismissed (Frost and another v The Good Box Co Labs Limited and others) – Gatehouse Chambers

‘Dispute Resolution analysis: An application by the former administrators of a company for an increase in their remuneration has been dismissed, despite the Court concluding that they had standing to bring the application itself.’

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Gatehouse Chambers, 19th April 2024

Source: gatehouselaw.co.uk

Insolvency law “entirely capable” of dealing with digital assets – Legal Futures

Posted April 24th, 2024 in cryptocurrencies, insolvency, news by tracey

‘English insolvency law is “entirely capable of convenient and sensible application to disputes concerning digital assets”, an expert panel has declared.’

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Legal Futures, 24th April 2024

Source: www.legalfutures.co.uk

Pension crimes, fines and insolvency practitioners – Pensions Barrister

‘David Pollard of Wilberforce Chambers has written an article about the relevance of the recent Supreme Court decision in R (Palmer) – in which it was held that an administrator was not in the class of persons liable to prosecution under the Trade Union and Labour Relations (Consolidation) Act 1992 for alleged failure to give notice to the SoS of proposed collective redundancies – to crimes and fines under pensions legislation.’

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Pensions Barrister, 18th April 2024

Source: www.pensionsbarrister.com

Hull funeral home inquiry: Legal move to close Legacy stalls – BBC News

Posted April 10th, 2024 in burials and cremation, insolvency, local government, news by sally

‘A formal move to dissolve the funeral firm at the centre of a police inquiry could not proceed in court.’

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BBC News, 9th April 2024

Source: www.bbc.co.uk

Case Comment: Byers and others v Saudi National Bank [2023] – UKSC Blog

Posted March 27th, 2024 in appeals, breach of trust, Cayman Islands, equity, insolvency, news, Supreme Court, trusts by sally

‘In this post, Adam Ferris (Senior Associate) in the Finance Disputes Team at CMS and Henry Powell (Associate) in the Real Estate Disputes Team at CMS comment on the judgment of the Supreme Court in Byers and Ors v Saudi National Bank [2023] UKSC 51, which was handed down on 20 December 2023.’

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UKSC Blog, 26th March 2024

Source: ukscblog.com

Civil case over £237m collapse of London Capital & Finance opens – with counsel leaving – Law Society’s Gazette

Posted February 20th, 2024 in barristers, fees, insolvency, legal representation, news, unfair commercial practices by tracey

‘Counsel for a defendant in a civil case concerning the £237m collapse of mini bond issuer London Capital & Finance excused themselves from court on the first hearing day this morning – stating that there was no prospect of their fees being paid.’

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Law Society's Gazette, 19th February 2024

Source: www.lawgazette.co.uk

Collapsed SSB “faces up to 1,400 negligence claims” – Legal Futures

Posted January 31st, 2024 in costs, insolvency, insurance, law firms, negligence, news by tracey

‘Consumer claims firm SSB Law, which went into administration earlier this month owing six litigation funders £200m, faces up to 1,400 professional negligence claims, it has emerged.’

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Legal Futures, 31st January 2024

Source: www.legalfutures.co.uk

Resisting enforcement of an adjudicator’s decision – Local Government Lawyer

‘Mark Roach, Sarah Davies and Dawn Gowland review a recent High Court case where a contractor sought to enforce an adjudicator’s decision against a Welsh council.’

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Local Government Lawyer, 12th January 2024

Source: www.localgovernmentlawyer.co.uk

Court of Appeal confirms applicable test when hearing an application to annul a bankruptcy under section 282(1)(a) (Khan v Singh-Sall and another) – Gatehouse Chambers

Posted November 22nd, 2023 in appeals, bankruptcy, chambers articles, dispute resolution, insolvency, news by sally

‘Dispute Resolution analysis: In a second appeal, the Court of Appeal has upheld the decisions of two lower Courts in concluding that due to the conduct of a bankrupt and his insolvency, his bankruptcy should not (on an exercise of discretion) be annulled, despite concluding that the bankruptcy order should not have been made.’

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Gatehouse Chambers, 20th October 2023

Source: gatehouselaw.co.uk

Court Control of Office-Holders: Applying the Brakes? – Gatehouse Chambers

Posted November 21st, 2023 in insolvency, news, statutory interpretation by sally

‘Under the Insolvency Act 1986 (IA 1986), office-holders are given wide powers but they are subject to the control of the court. In order to allow insolvency practitioners to carry out their duties efficiently and without having constantly to look over their shoulders, this control has always been exercised with a light touch. In recent years there have been several important cases examining these issues.’

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Gatehouse Chambers, 11th October 2023

Source: gatehouselaw.co.uk

Insolvency Newsletter: October 2023 – Gatehouse Chambers

Posted November 16th, 2023 in chambers articles, insolvency, news by sally

‘This month Alaric Watson considers the significance of the Patley Wood v Kicks and Brake v Chedington for the world of personal insolvency, Ryan Hocking gives a run down of the recent and anticipated statutory and regulatory changes, we have a two minute interview with the newest member of the team, Victoria Dacie-Lombardo and we have summaries of some of the significant cases from the last quarter.’

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Gatehouse Chambers, October 2023

Source: gatehouselaw.co.uk

Birmingham City Council finances highlight implications of local authority ‘section 114’ report – OUT-LAW.com

Posted September 25th, 2023 in insolvency, local government, news by tracey

‘News that the UK government is set to intervene in the financial problems at Birmingham City Council has again focused attention on the statutory provisions that apply where a local authority in England finds itself in severe financial straits.’

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OUT-LAW.com, 22nd September 2023

Source: www.pinsentmasons.com

Insolvent insurer’s policyholders fail in claim over unpaid legal costs – Legal Futures

Posted September 14th, 2023 in compensation, costs, insolvency, insurance, news by tracey

‘The Financial Services Compensation Scheme (FSCS) does not have to compensate policyholders for the legal costs they were awarded after taking legal action against an insurer that became insolvent before paying them, the Court of Appeal has ruled.’

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Legal Futures, 14th September 2023

Source: www.legalfutures.co.uk

Rulings support trustees in bankruptcy in carrying out their duties – OUT-LAW.com

Posted August 11th, 2023 in appeals, bankruptcy, insolvency, news, Supreme Court, trustees in bankruptcy by tracey

‘A new ruling by the UK Supreme Court, coupled with another recent judgment, will support trustees in bankruptcy in carrying out their duties free from undue interference, an insolvency law expert has said.’

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OUT-LAW.com, 10th August 2023

Source: www.pinsentmasons.com

High Court removes privilege in fraud claim involving top law firm – Legal Futures

Posted August 2nd, 2023 in disclosure, documents, fraud, insolvency, law firms, legal profession, news, privilege by sally

‘Legal professional privilege should not apply in a case where there is a “very good arguable case” that a client used global firm DLA Piper’s services to assist a fraud, the High Court has ruled.’

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Legal Futures, 2nd August 2023

Source: www.legalfutures.co.uk

Challenging CVAs as a creditor – Local Government Lawyer

‘Karen Morean and William O’Brien outline how creditor local authorities can challenge a company voluntary arrangement.’

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Local Government Lawyer, 30th June 2023

Source: www.localgovernmentlawyer.co.uk

Court rules that genuine attempt to restructure did not put assets beyond reach of creditors – OUT-LAW.com

Posted June 21st, 2023 in company law, fraud, insolvency, news, winding up by tracey

‘A recent ruling of the English High Court found that a genuine attempt to restructure a company did not amount to an ‘informal winding-up’ in contradiction of insolvency laws on the distribution of assets to creditors.’

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OUT-LAW.com, 20th June 2023

Source: www.pinsentmasons.com

Ex-One Legal staff given pay award over redundancy without notice – Legal Futures

‘Sixty-four former employees of One Legal – the alternative business structure that owned two criminal law firms – have been granted full protective awards because they were made redundant without notice.’

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Legal Futures, 21st June 2023

Source: www.legalfutures.co.uk