City watchdog told to review London Capital & Finance collapse – The Guardian
‘Government orders FCA inquiry into £236m scandal surrounding investment firm.’
The Guardian, 1st April 2019
Source: www.theguardian.com
‘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
‘Ever since 31 July 2018, when Fraser J handed down his judgment in Michael J Lonsdale (Electrical) Ltd v Bresco Electrical Services Ltd (in liquidation) [2018] EWHC 2043 (TCC), many of those involved in either insolvency or construction have been in a state of confusion tinged with disbelief. The potential ramifications were quite startling and the unease was only heightened by the more or less contemporary but very different decision of HHJ Waksman QC (as he then was) in Cannon Corporate Ltd v Primus Build Ltd [2018] EWHC 2143 (TCC). Both matters came before the Court of Appeal in November, since when the legal profession has been holding its collective breath. Now that the Court of Appeal has handed down its much-awaited judgment in these conjoined appeals the exhalation has been audible.’
Hardwicke Chambers, 7th February 2019
Source: hardwicke.co.uk
‘With the Court of Appeal’s decision in Bresco Electrical Services Ltd v Michael J Lonsdale (Electrical) Ltd just a few weeks old, it is hardly surprising that people are looking again at the relationship between insolvency law and adjudication, noting that in cases of liquidation where parties have a cross claim, construction law defers to insolvency law.’
Hardwicke Chambers, 14th February 2019
Source: hardwicke.co.uk
‘This was a conjoined appeal alongside Bresco v Lonsdale. In this case, Cannon and Primus had already participated in an adjudication, with the decision of the adjudicator favouring Primus. Primus would later enter into a Company Voluntary Arrangement.’
Hardwicke Chambers, 13th February 2019
Source: hardwicke.co.uk
‘Private firms which manage thousands of offenders in Wales and south west England have gone into administration.’
BBC News, 15th February 2019
Source: www.bbc.co.uk
‘Blackpool have been put into receivership so the club can be sold and the proceeds used to pay off some of the £22m owed by their owners, the Oyston family, to the Latvian banker Valeri Belokon, a court has ordered.’
The Guardian, 13th February 2019
Source: www.theguardian.com
‘Summer 2018 will be remembered as a special time by many readers of this blog: whether it was the spectacular weather, the giddy heights hit by the England football team, or Fraser J’s decision in Michael J Lonsdale (Electrical) Ltd v Bresco Electrical Services Ltd (In Liquidation), it was a summer to remember.’
Practical Law: Construction Blog, 6th February 2019
‘Companies in liquidation can theoretically refer claims to an adjudicator under construction law but it would be a futile exercise as the decision could not be enforced in most cases, the Court of Appeal in England has ruled.’
OUT-LAW.com, 4th February 2019
Source: www.out-law.com
‘It was only published at the end of last week, so I’m not sure if you’ve had chance to look at Coulson LJ’s judgment in Bresco Electrical Services Ltd v Michael J Lonsdale (Electrical) Ltd, Cannon Corporate Ltd v Primus Build Ltd. If not, then you should. It contains some important stuff about liquidation and CVAs, and when it is appropriate (and possible) to adjudicate if the referring party is subject to one of those processes.’
Practical Law: Construction Blog, 30th January 2019
‘A property developer has been banned from running companies for 10 years after failing to provide accounting records to explain more than £5m missing from a football club loan.’
BBC News, 5th February 2019
Source: www.bbc.co.uk
‘The Court of Appeal has said that English courts will not indefinitely delay a case, preventing English creditors from pursuing claims in insolvency proceedings abroad, especially when the foreign proceedings had ended. It said that an English debt can only be discharged by an English law process.’
OUT-LAW.com, 17th January 2019
Source: www.out-law.com
‘A Budget measure concerning tax and insolvency effectively puts the UK’s tax authority back among preferential creditors in an insolvency. Is this a failure to learn from history?’
OUT-LAW.com, 13th November 2018
Source: www.out-law.com
‘The High Court in England has confirmed that the industry standard wording used in the notice of appointment does not invalidate the appointment of the administrators. The same practice had previously been called into question in a case involving NJM Clothing.’
OUT-LAW.com, 12th November 2018
Source: www.out-law.com
‘Claimants who discontinued their case four days into a six-week trial have been ordered to pay the defendants’ costs on the indemnity basis because their conduct took it ‘out of the norm’.’
Litigation Futures, 19th October 2018
Source: www.litigationfutures.com
‘The Court of Appeal has allowed the Solicitors Regulation Authority (SRA) to try and recover the £800,000 it spent intervening in collapsed law firm Blavo & Co.’
Legal Futures, 17th October 2018
Source: www.legalfutures.co.uk
‘A High Court judge was wrong to order a non-party costs order (NPCO) where the respondent had not been warned that the applicant was going to seek one, the Court of Appeal has ruled.’
Litigation Futures, 10th September 2018
Source: www.litigationfutures.com
‘The UK government has published new tools designed to improve rescue opportunities for companies in financial distress and put more emphasis on directors’ duties.’
OUT-LAW.com, 28th August 2018
Source: www.out-law.com