Schmitt v Deichmann and others – WLR Daily

Posted January 25th, 2012 in administrators, foreign companies, fraud, insolvency, jurisdiction, law reports by sally

Schmitt v Deichmann and others [2012] EWHC 62 (Ch); [2012] WLR (D) 8

“The court had an inherent jurisdiction under the common law to permit the statutory power under section 423 of the Insolvency Act 1986, preventing transactions defrauding creditors, to be applied to a foreign administrator not falling within the express scope of the 1986 Act.”

WLR Daily, 23rd January 2012

Source: www.iclr.co.uk

Spaceright Europe Ltd v Baillavoine and another – WLR Daily

Posted December 16th, 2011 in insolvency, law reports, transfer of undertakings, unfair dismissal by tracey

Spaceright Europe Ltd v Baillavoine and another: [2011] EWCA Civ 1565;  [2011] WLR (D)  369

“The company administrator’s dismissal of a company employee when it had gone into administration could be for a reason connected with the transfer of a business, for the purposes of regulation 7(1) of the Transfer of Undertakings (Protection of Employment) Regulations 2006, and constituted an automatic dismissal of the employee, even if the disposal of the business and assets and the identity of the transferee had not been in contemplation at the time of that dismissal.”

WLR Daily, 14th December 2011

Source: www.iclr.co.uk

In re Bezier Acquisitions Ltd – WLR Daily

Posted December 14th, 2011 in administrators, insolvency, law reports by sally

In re Bezier Acquisitions Ltd [2011] EWHC 3299 (Ch); [2011] WLR (D) 362

“Rule 2.8 of the Insolvency Rules 1986 did not provide a complete and exhaustive code as to service of a notice of intention to appoint administrators.”

WLR Daily, 12th December 2011

Source: www.iclr.co.uk

Football League in court fight with HMRC over football creditors’ rule – The Guardian

Posted December 1st, 2011 in debts, illegality, insolvency, news, sport, taxation by sally

“A high court judge has been asked to take action against a football industry debt rule described as revealing ‘the ugly side of the beautiful game’.”

Full story

The Guardian, 30th November 2011

Source: www.guardian.co.uk

Interedil Srl (in liquidation) v Fallimento Interedil Srl and another – WLR Daily

Posted November 22nd, 2011 in EC law, insolvency, jurisdiction, law reports, winding up by sally

Interedil Srl (in liquidation) v Fallimento Interedil Srl and another Case C-396/09; [2011] WLR (D) 334

“The term ‘centre of a debtor’s main interests’ in article 3(1) of Council Regulation (EC) No 1346/2000 was to be interpreted by reference to European Union law, which attached greater importance to the place of the company’s central administration, in particular the place of its registered office. Where a company’s registered office was transferred before the lodging of a request to open insolvency proceedings, its centre of main activities was presumed to be the place of its new registered office.”

WLR Daily, 20th October 2011

Source: www.iclr.co.uk

Rescue me … insolvency issues for employment lawyers – 11 KBW

Posted November 14th, 2011 in employment, insolvency, news, transfer of undertakings by sally

“The policy aim behind the legislation governing insolvency is that of facilitating the so-called ‘rescue culture’ by making insolvent employers more attractive to prospective purchasers. The policy aim behind employment protection legislation is to provide valuable rights for employees. It is unsurprising that, when these two policy aims collide, problems arise.”

Full story (PDF)

11 KBW, 10th November 2011

Source: www.11kbw.com

Fenland District Council v Sheppard and others – WLR Daily

Posted November 8th, 2011 in insolvency, law reports, mortgages by sally

Fenland District Council v Sheppard and others [2011] EWHC 2829 (Ch); [2011] WLR (D) 316

“In making a vesting order, pursuant to section 320 of the Insolvency Act 1986, in favour of a statutory chargee whose charge ranked in priority to the mortgagees’ charge over the property, the court was not bound to set aside the mortgagees’ charge where the mortgagees did not themselves apply for a vesting order. Such an order would not effectively benefit only the mortgagees by extinguishing the statutory charge if it could be shown that the statutory chargee intended to preserve the benefit of its charge, or that the extinguishment of its charge would be against the statutory chargee’s interests, in which case there would be a presumption against extinguishment.”

WLR Daily, 3rd November 2011

Source: www.iclr.co.uk

Is the decision in Godfrey a mark of the demise of Debt Relief Orders? – Hardwicke Chambers

Posted October 31st, 2011 in debts, insolvency, news, repossession by sally

“The Court of Appeal heard joined appeals considering the impact of insolvency on the right to make an order for possession and order for money judgment. Sharples concerned a possession claim brought under Ground 8 Housing Act 1988 (a mandatory ground for possession) and was a case in which the tenant had become bankrupt. Godfrey was a case in which possession was sought on discretionary grounds and the court of first instance had made a suspended possession order on terms of repayment of the arrears and granted money judgment; the order was made although the arrears were included within a debt relief order ‘DRO’.”

Full story

Hardwicke Chambers, 28th October 2011

Source: www.hardwicke.co.uk

In re Kaupthing Singer and Friedlander Ltd – WLR Daily

Posted October 20th, 2011 in administration orders, insolvency, law reports, Supreme Court, surety by tracey

In re Kaupthing Singer and Friedlander Ltd [2011] UKSC 48;  [2011] WLR (D)  297

“The equitable rule which prevented a person sharing in a fund while his debts to the fund were unpaid was trumped by the rule against double proof in a suretyship situation.”

WLR Daily, 19th October 2011

Source: www.iclr.co.uk

In re Nortel GmbH and related companies; In re Lehman Brothers International (Europe) (in administration) and related companies – WLR Daily

Posted October 18th, 2011 in appeals, expenses, insolvency, law reports by sally

In re Nortel GmbH and related companies; In re Lehman Brothers International (Europe) (in administration) and related companies [2011] EWCA Civ 1124; [2011] WLR (D) 293

“Neither the obligation to comply with a financial support direction issued by the Pensions Regulator under section 43 of the Pensions Act 2004 nor the obligation to pay the trustees of the relevant occupational pension scheme the sum specified in a contribution notice issued under section 47 of the 2004 Act, following non-compliance with the direction, constituted a provable debt in an administration or liquidation within the meaning of rule 13.12 of the Insolvency Rules 1986 where the direction was issued after the commencement of the insolvency process; such obligations ranked instead as an expense of the administration or liquidation.”

WLR Daily, 14th October 2011

Source: www.iclr.co.uk

Landmark pensions ruling upheld – The Independent

Posted October 14th, 2011 in insolvency, news, pensions by tracey

“The Court of Appeal has upheld a landmark ruling that gives priority to company pensioners – ahead of creditor banks and bondholders – when those companies become insolvent.”

Full story

The Independent, 14th October 2011

Source: www.independent.co.uk

Nowhere to run: insolvency is no protection from possession proceedings – Zenith Chambers

Posted September 28th, 2011 in debts, insolvency, landlord & tenant, news, rent by sally

“Social landlords face a constant struggle trying to persuade heavily indebted tenants that paying rent is a priority over paying off the tenants’ bigger, more threatening creditors.”

Full story (PDF)

Zenith Chambers, 13th September 2011

Source: www.zenithchambers.co.uk

New rules set pension protection levy at reduced level for next three years – OUT-LAW.com

Posted September 23rd, 2011 in compensation, insolvency, news, pensions by tracey

“The levy paid into a special fund by pension schemes to pay compensation to their members should the scheme go insolvent has been reduced for the next three years, the fund organisers have announced.”

Full story

OUT-LAW.com, 23rd September 2011

Source: www.out-law.com

New Cap Reinsurance Corpn Ltd (in liquidation) and another v Grant and others – WLR Daily

Posted August 15th, 2011 in enforcement, foreign jurisdictions, insolvency, law reports by sally

New Cap Reinsurance Corpn Ltd (in liquidation) and another v Grant and others [2011] EWCA Civ 971; [2011] WLR (D) 274

“Section 426 of the Insolvency Act 1986 could be used to seek assistance with a view to the enforcement of a money judgment issued in foreign insolvency proceedings, and was not excluded by section 6 of the Foreign Judgments (Reciprocal Enforcement) Act 1933.”

WLR Daily, 9th August 2011

Source: www.iclr.co.uk

Belmont Park Investments Pty v BNY Corporate Trustee Services Ltd – WLR Daily

Posted July 29th, 2011 in insolvency, law reports, Supreme Court, winding up by tracey

Belmont Park Investments Pty v BNY Corporate Trustee Services Ltd [2011] UKSC 38;  [2011] WLR (D)  260

“The policy behind the anti-deprivation rule in insolvency law, that parties could not, on bankruptcy, deprive the bankrupt of property which would otherwise be available for creditors, was to be given a commonsense application which prevented its application to bona fide commercial transactions which did not have as their predominant purpose the deprivation of the property of one of the parties on bankruptcy.”

WLR Daily, 27th July 2011

Source: www.iclr.co.uk

Supreme Court upholds CoA Lehman ruling using 200-year-old insolvency law – The Lawyer

Posted July 28th, 2011 in contracts, insolvency, news, Supreme Court by tracey

“A seven-strong panel of Supreme Court justices has dismissed an attempt by the trustees of Lehman Brothers to recoup £61m from noteholders, by upholding an insolvency law principle that has existed for 200 years.”

Full story

The Lawyer, 27th July 2011

Source: www.thelawyer.com

Finnerty and another v Clark and another; In re St George’s Property Services (London) Ltd (in administration) – WLR Daily

Posted July 26th, 2011 in administrators, appeals, insolvency, law reports by tracey

Finnerty and another v Clark and another; In re St George’s Property Services (London) Ltd (in administration) [2011] EWCA Civ 858;  [2011] WLR (D)  246

“The administrators of an insolvent company were the officers of the court with statutory powers to exercise their discretion to act for the interests of the creditors as a whole. The court had statutory power to removal and replace the administrators, but it had first to be established by the evidence that there was a good or sufficient ground or cause for the removal and replacement. Only then could the court properly proceed to consider the exercise of its discretion by having regard to all the relevant factors for and against an order for removal, such as the beneficial consequences of success in possible legal proceedings.”

WLR Daily, 21st July 2011

Source: www.iclr.co.uk

 

Places for People Homes Ltd v Sharples; A2 Dominion Homes Ltd v Godfrey – WLR Daily

Posted July 19th, 2011 in appeals, housing, insolvency, landlord & tenant, law reports, repossession by tracey

Places for People Homes Ltd v Sharples; A2 Dominion Homes Ltd v Godfrey [2011] EWCA Civ 813;  [2011] WLR (D)  233

“The provisions of the insolvency legislation did not fetter the power of the county court to make a possession order for non-payment of rent against a bankrupt assured tenant or an assured tenant protected by a debt relief order (“DRO”) made under Part 7A of the Insolvency Act 1986 (inserted by section 108(1) of and Schedule 17 to the Tribunals, Courts and Enforcement Act 2007) , although the court could not make an order for payment of unpaid rent against a bankrupt’s estate. Although the moratorium under a debt protection order rendered it unreasonable to make a suspended possession order conditional on paying off past debt, the county court had jurisdiction to make such an order conditional on payment of the current rent.”

WLR Daily, 15th July 2011

Source: www.iclr.co.uk

In re Frontsouth (Witham) Ltd (in administration) and Bridge Hospital (Witham) Ltd (in administration) – WLR Daily

Posted July 5th, 2011 in administrators, insolvency, law reports by sally

In re Frontsouth (Witham) Ltd (in administration) and Bridge Hospital (Witham) Ltd (in administration) [2011] EWHC 1668 (Ch); [2011] WLR (D) 215

“Rule 7.55 of the Insolvency Rules 1986 could not be used by the court to waive defects of a relatively technical nature in the out of court appointment of administrators and such a change should only be brought about by legislation.”

WLR Daily, 30th June 2011

Source: www.iclr.co.uk

Panter v Rowellian Football Social Club and others – WLR Daily

Posted May 24th, 2011 in clubs, company law, insolvency, law reports by sally

Panter v Rowellian Football Social Club and others [2011] EWHC 1301 (Ch); [2011] WLR (D) 170

“Paragraph 111(1A)(c) of Schedule B1 to the Insolvency Act 1986, as inserted, applied to companies which were incorporated in states outside the European Economic Area and it did not apply to entities that were not incorporated at all.”

WLR Daily, 20th May 2011

Source: www.iclr.co.uk

Please note that once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.