‘You may or may not have heard that one of the largest Property Guardian firms put itself (and all its related companies) into voluntary liquidation on 6 November 2019. But that is what Camelot did.’
Nearly Legal, 5th December 2019
Source: nearlylegal.co.uk
‘The High Court in England has ruled that it does not have the authority to stop a criminal trial in another court to protect the creditors of a company in voluntary liquidation.’
OUT-LAW.com, 25th November 2019
Source: www.pinsentmasons.com
‘Two recent decisions have shed yet more light on the “byzantine” system for out of hours appointments. Both confirm that the courts will continue to take a relatively detailed, yet pragmatic, approach to this issue.’
Guildhall Chambers, 8th November 2019
Source: www.guildhallchambers.co.uk
‘The High Court in England has overturned decisions made by supervisors of a company voluntary arrangement (CVA) to reject creditors’ proof of debt for dividend purposes.’
OUT-LAW.com, 11th November 2019
Source: www.pinsentmasons.com
‘In May 2019, the requisite majority of the creditors of Debenhams Retail Ltd voted in favour of a company voluntary arrangement (“CVA”) proposed pursuant to s.1 of the Insolvency Act 1986. As has become common, the scheme of arrangement proposed by the CVA only affected the rights of landlords and rating authorities. All other creditors were to be paid in full.’
Falcon Chambers, 31st October 2019
Source: www.falcon-chambers.com
‘Restructuring & Insolvency analysis: James Bickford Smith, barrister at Littleton Chambers, examines the High Court’s decision in Nicoll v Promontoria (Ram 2) Ltd that the appellant debtor’s challenge to the validity of an assignment of his debt to the respondent should not have been entertained by the judge below because although the appellant had sought to put the effectiveness of the assignment in issue in his first witness statement, the point that he took was entirely different from that which he took before the judge.’
Littleton Chambers, 3rd October 2019
Source: www.littletonchambers.com
‘The recent case of Sell Your Car With Us Ltd v Anil Sareen will be of interest to practitioners in Corporate Insolvency as it provides a useful reminder that there is no strict rule that the winding up procedure is inapt for mere debt collection.’
Hardwicke Chambers, 7th October 2019
Source: hardwicke.co.uk
‘2018 was seen by many as the ‘year of the CVA’ and the year of the so -called ‘Retail CVA’ in particular. Such CVAs have been used in an attempt by companies operating in the retail and casual dining sector with burdensome leases to reduce the cost of their premises whilst continuing to trade.’
Hardwicke Chambers, 14th October 2019
Source: hardwicke.co.uk
‘Phillip Patterson provides a summary of recent corporate insolvency cases covering:
– Fraudulent trading;
– Misfeasance, transactions defrauding creditors and the duties of directors; and
– The out of court appointment of administrators.’
Hardwicke Chambers, 9th October 2019
Source: hardwicke.co.uk
‘Shail Patel acted for the successful defendants at trial in Bank of Baroda v Maniar [2019] EWHC 2463 Comm, in resisting claims by the bank on personal guarantees. The case raised a number of important points of European cross border insolvency law under the European Insolvency Regulation, and the English Court’s exercise of a foreign law judicial power.’
4 New Square, 28th October 2019
Source: www.4newsquare.com
‘The head of a bogus solicitors’ firm has received a 10-year director’s disqualification for running the business with a total lack of integrity.’
Legal Futures, 24th October 2019
Source: www.legalfutures.co.uk
‘MPs are to hold an inquiry into the role of “corporate greed” in the collapse of Thomas Cook, focusing on directors’ stewardship of the company, how much they were paid and how its accounts were prepared and signed off by auditors.’
The Guardian, 26th September 2019
Source: www.theguardian.com
‘If you are considering commencing insolvency proceedings against another party, do ensure that they actually owe you a debt before you do so. This point is so obvious that it barely needs stating. However, Martin v McLaren Construction Ltd serves as an example of how things can go badly wrong if it is not double-checked.’
Hardwicke Chambers, August 2019
Source: hardwicke.co.uk
‘In January, in the second of the two conjoined appeals of Bresco Electrical Services Ltd v Michael J Lonsdale (Electrical) Ltd, Cannon Corporate Ltd v Primus Build Ltd, the Court of Appeal upheld the first instance decision to enforce an adjudicator’s decision where the enforcing party was in a company voluntary arrangement (CVA). In contrast, last week in Indigo Projects London Ltd v Razin and another, the court refused to enforce an adjudicator’s decision where the enforcing party was in a CVA. The reasoning was that enforcement of the decision would interfere with the accounting exercise to be carried out under the CVA. The court provided useful guidance on when this argument is likely to succeed.’
Practical Law: Construction Blog, 22nd May 2019
‘The number of insolvencies among solicitors’ firms reached a new high last year, Insolvency Service figures have shown, and a funder has warned that the practice of ‘loan stacking’ will only make things worse.’
Legal Futures, 10th April 2019
Source: www.legalfutures.co.uk
‘Government orders FCA inquiry into £236m scandal surrounding investment firm.’
The Guardian, 1st April 2019
Source: www.theguardian.com
‘Income tax must be deducted before administrators can pay out statutory interest to the creditors of an insolvent company, the UK’s highest court has confirmed.’
OUT-LAW.com, 14th March 2019
Source: www.out-law.com
‘The Gambling Commission has defended its handling of the controversial closure of the online bookmaker BetBright, which decided to void bets with a potential payout of around £1m when it ceased operations last week, saying that customers of the firm would have received nothing back had the firm gone into liquidation.’
The Guardian, 14th March 2019
Source: www.theguardian.com
‘This case concerned both the appeal in Bresco v Lonsdale and Cannon Corporate v Primus Build. The present case comment is only concerned with the former.’
Hardwicke Chambers, 6th February 2019
Source: hardwicke.co.uk
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