Category: insolvency

AWB Geneva SA and another v. North America Steamships Ltd. – WLR Daily

Posted May 22nd, 2007 in conflict of laws, insolvency, jurisdiction, law reports by sally

AWB Geneva SA and another v. North America Steamships Ltd. [2007] EWHC 1167 (Comm) 

“A party to a contract that was subject to the exclusive jurisdiction of the English High Court could not restrain the other party’s foreign trustee in bankruptcy from seeking an order in foreign insolvency proceedings that certain conditions precedent to liability under the contract should cease to apply.”

WLR Daily, 17th May 2007

Source: www.lawreports.co.uk

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

Godfrey v. Torpy and Others – Times Law Reports

Posted May 16th, 2007 in insolvency, law reports by sally

Leave not needed to continue claim

Godfrey v. Torpy and Others

Chancery Division

Leave of the court was not required to continue proceedings in which an order to set aside a transaction at an undervalue which had defrauded creditors had been applied for, even though the individual or company against whom the application had been made was adjudged bankrupt or became insolvent after those proceedings had been launched.

The Times, 16th May 2007

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

Prudential Assurance Co. Ltd. v. PRG Powerhouse Ltd. and others; Luctor Ltd. v. PRG Powerhouse Ltd. and others – WLR Daily

Posted May 9th, 2007 in guarantees, insolvency, law reports by sally

Prudential Assurance Co. Ltd. v. PRG Powerhouse Ltd. and others; Luctor Ltd. v. PRG Powerhouse Ltd. and others [2007] EWHC 1002 (Ch)

“A company voluntary arrangement which contained terms releasing guarantees given by the defendant’s parent company to the claimant creditors, unfairly prejudiced the claimants within the meaning of s 6(1)(a) of the Insolvency Act 1986.”

WLR Daily, 1st May 2007

Source: www.lawreports.co.uk

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

Landowners secure landmark victory against troubled tenants – The Times

Posted May 2nd, 2007 in insolvency, news, rent by sally

“A clutch of Britain’s biggest landowners who together count for about £100 billion of commercial property have won a landmark High Court battle to prevent tenants wriggling out of unpaid rent when they go under.”

Full story

The Times, 2nd May 2007

Source: www.timesonline.co.uk

Regina (Balding) v Secretary of State for Work and Pensions – Times Law Reports

Posted May 1st, 2007 in benefits, insolvency, law reports by sally

Overpaid benefit not recoverable

Regina (Balding) v. Secretary of State for Work and Pensions

Queen’s Bench Divisional Court

“Liability to repay overpaid social security benefit occurring prior to a bankruptcy was a bankruptcy debt. Discharge from bankruptcy released the debtor from liability for recovery of the overpaid benefit.”

The Times, 1st May 2007

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

Call to update UK insolvency law – Financial Times

Posted May 1st, 2007 in insolvency, news by sally

“London’s status as a leading financial centre could be diminished unless the UK reforms its insolvency regime ahead of the next economic downturn, according to an influential group of restructuring professionals.”

Full story

Financial Times, 30th April 2007

Source: www.ft.com

Godfrey v Torpy and others – WLR Daily

Posted April 26th, 2007 in insolvency, law reports by sally

Godfrey v. Torpy and others [2007] EWHC 919 (Ch) 

“Where an application for an order had been made under s 423 of the Insolvency Act 1986 to set aside a transaction which had been entered into at an undervalue and had defrauded creditors, and the individual or company against whom the application had been made was thereafter adjudicated bankrupt or became insolvent, the proceedings could continue without the leave of the court.”

WLR Daily, 23rd April 2007

Source: www.lawreports.co.uk

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

Official Receiver v. Hollens – WLR Daily

Posted April 12th, 2007 in insolvency, law reports, partnerships by sally

Official Receiver v. Hollens [2007] EWHC 753 (Ch)

“Subsections 303(2A) to (2C) of the Insolvency Act 1986 conferred upon the court the power to direct that the affairs of a partnership be wound up and its property administered as if the debtors had themselves presented a joint petition, even though they had not, so long as the partnership was insolvent and the order sought was one that could have been made had the individual members presented the joint petition.”

WLR Daily, 4th April 2007

Source: www.lawreports.co.uk

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

Hickling v. Baker – WLR Daily

Posted April 12th, 2007 in committals, insolvency, law reports by sally

Hickling v. Baker [2007] EWCA Civ 287

“An application for a committal order under s 364 of the Insolvency Act 1986 where an undischarged bankrupt failed to co-operate with the trustee in bankruptcy should normally be made on notice, unless a statutory provision provided otherwise. Any other exception to that practice had to be justified by evidence. Further, any committal order made without notice should require that, once arrested, the person in question should be brought promptly before the court for a hearing in order to comply with art 5 of the Convention for the Protection of Human Rights and Fundamental Freedoms.”

WLR Daily, 4th April 2007

Source: www.lawreports.co.uk

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

R (Balding) v. Secretary of State for Work and Pensions – WLR Daily

Posted April 5th, 2007 in benefits, insolvency, law reports by sally

R (Balding) v. Secretary of State for Work and Pensions [2007] EWHC 759 (Admin)

“Where an individual was liable to repay overpaid social security benefit under the Social Security Administration Act 1992 this was counted as a liability to pay money under an enactment for the purposes of s 382(4) of the Insolvency Act 1986 and was a bankruptcy debt. Discharge of the bankrupt released him from liability for recovery of the overpaid benefit.”

WLR Daily, 4th April 2007

Source: www.lawreports.co.uk

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