‘Abolishing the exemption from LASPO for insolvency cases would create a “windfall” for third-party funders, insolvency trade body R3 has argued.’
Litigation Futures, 29th October 2015
Source: www.litigationfutures.com
‘Lord Justice Jackson has called for the recently extended exemption for insolvency cases from the impact of his reforms to come to an end, describing recoverability as “an instrument of oppression, which is liable to crush defendants who have a good defence”.’
Litigation Futures, 20th October 2015
Source: www.litigationfutures.com
‘Lord Justice Jackson has urged the government to ditch one of the final exemptions to his civil justice reforms.’
Law Society’s Gazette, 19th October 2015
Source: www.lawgazette.co.uk
‘It is up to the directors of an insolvent company to prove that they took “every step” to minimise the potential loss to creditors as soon as they knew that the company could not reasonably avoid liquidation, the High Court has confirmed.’
OUT-LAW.com, 7th August 2015
Source: www.out-law.com
‘Granting an option to purchase a shareholding to a party for a significant sum as relief for unfair prejudice was within the court’s discretion under the Companies Act 2006 s.996 despite valuation evidence showing the company was balance sheet insolvent.’
Tanfield Chambers, 14th July 2015
Source: www.tanfieldchambers.co.uk
‘The Small Business, Enterprise and Employment Act 2015 (SEEBA) and the Deregulation Act 2015 were added to the statute book on 26 March. Both contain provisions that make significant changes to the Insolvency Act 1986.’
Hardwicke Chambers, 10th June 2015
Source: www.hardwicke.co.uk
‘Restructuring & Insolvency analysis: Discussing the European Court of Justice’s (ECJ) judgment in Comité d’entreprise de Nortel Networks SA, John Jessup of 11 Stone Buildings says the significant point to be taken from this case is that those who plan to open, or have opened, main insolvency proceedings can do little to prevent secondary proceedings being opened in another member state.’
Full story (PDF)
11 Stone Buildings, July 2015
Source: www.11sb.com
‘In a consultation paper published on 18 June 2015, the Law Commission considers whether prepaying consumers should be better protected in the event of company insolvency, either through improved voluntary mechanisms or required by law.’
Law Commission, 18th June 2015
Source: www.lawcommission.justice.gov.uk
In re Hartmann Capital Ltd (in special administration); [2015] EWHC 1514 (Ch); [2015] WLR (D) 241
‘As a matter of construction of article 4 of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (Commencement No 5 and Saving Provisions) Order 2013, which spoke in specific terms of an administrator “appointed pursuant to the provisions of Part II of the [Insolvency] 1986 Act” and a company which had “entered into administration under Part II of the 1986 Act”, administrators appointed pursuant to the Investment Bank Special Administration Regulations 2011 (SI 2011/245) were denied the funding possibilities available to other administrators.’
WLR Daily, 13th May 2015
Source: www.iclr.co.uk
‘The Court of Appeal made rulings following determination of issues raised in the administration of three companies as to the potential liability of two members in the group for the liabilities of the principal trading company, an unlimited company, and in particular its subordinated liabilities, and the relationship between their liability, if any, as members and their claims as creditors.’
WLR Daily, 14th May 2015
Source: www.iclr.co.uk
Howell v Lerwick Commercial Mortgage Corporation Ltd [2015] EWHC 1177 (Ch); [2015] WLR (D) 200
‘Where the debt in a statutory demand itself was not disputed but the debtor relied on a cross-claim which did not equal the debt but fell short of it by less than £750, the statutory demand was not necessarily to be set aside under the residual discretion in rule 6.5(4)(d) of the Insolvency Rules 1986.’
WLR Daily, 1st May 2015
Source: www.iclr.co.uk
Supreme Court, 29th April 2015
Jetivia SA and another (Appellants) v Bilta (UK) Limited and others (Respondents) [2015] UKSC 23 (YouTube)
Supreme Court, 22nd April 2015
‘The defence of ex turpi causa non oritur actio is not available to company directors in a claim by the company for conspiracy to defraud the company because the directors’ conduct cannot be attributed to the company in the context of its claim for a breach of the directors’ duties. Section 213 of the Insolvency Act 1986 has extra territorial effect and can be invoked against the directors.’
WLR Daily, 22nd April 2015
Source: www.iclr.co.uk
In re Melodious Corpn; Pui-Kwan v Kam-Ho and others [2015] EWHC 621 (Ch); [2015] WLR (D) 162
‘Rule 7.55 of the Insolvency Rules 1986 had no application in circumstances where a meeting of the board of directors of the company purporting to place the company into administration out of court pursuant to paragraph 22(2) of Schedule B1 to the Insolvency Act 1986 was inquorate and accordingly the resolution to appoint an administrator was invalid.’
WLR Daily, 10th March 2015
Source: www.iclr.co.uk
‘If a potential defendant is insolvent, it is a matter of critical importance to the potential claimant if they are able to assert a proprietary right over money or goods as opposed to a mere personal claim for damages.’
Hardwicke Chambers, 24th March 2015
Source: www.hardwicke.co.uk
‘The recent High Court decision in Horton v Henry has now thrown the debate over the extent to which the pension pot of a bankrupt can be made available to his creditors wide open.’
Full story (PDF)
11 Stone Buildings, January 2015
Source: www.11sb.com
‘The recent decision of Mr Justice Edis in DavisonSebry v Companies House and the Registrar of Companies [2015] EWHC 115 (QB) has highlighted how, in the interconnected age of the internet, the careless click of a mouse button can have incredibly far-reaching consequences and abruptly destroy the business of a successful company. The unusual facts would suggest that further cases against the Registrar (against whom judgment was entered) would be unlikely, not least because the reporting procedures are bound to be tightened up.’
Full story (PDF)
New Square Chambers, February 2015
Source: www.newsquarechambers.co.uk
‘The Solicitors Regulation Authority has ignored most respondents to its consultation on ceasing to regulate insolvency practitioners (IPs) and will press ahead with the plan.’
Law Society’s Gazette, 12th March 2015
Source: www.lawgazette.co.uk
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