Collection of fees in receivables finance agreement must not be “arbitrary, capricious or irrational” says High Court – OUT-LAW.com

Posted August 2nd, 2017 in banking, Cayman Islands, fees, fiduciary duty, indemnities, news, receivers by tracey

‘The High Court has found that a lender must be rational when exercising its contractual discretion to charge collection fees under a receivables finance agreement. The agreement allowed for fees of up to 15%, however, the maximum chargeable for the lender to remain compliant with its duty was found, in this case, to be 4%.’

Full Story

OUT-LAW.com, 1st august 2017

Source: www.out-law.com

Eastenders in Supreme Court: A1P1 filling in the gaps – UK Human Rights Blog

‘Not Albert Square, but it could be. The Crown Prosecution Service suspect two individuals of a massive duty/VAT fraud in their cash and carry businesses. The CPS go to the Crown Court (in the absence of the individuals) and get an order to appoint a receiver (i.e. a paid manager) to run the affairs of companies (Eastenders) in which the individuals are involved, as well as a restraint order against the individuals. Both receivership and restraint orders are set aside some months later by the Court of Appeal, on the basis that the HMRC investigator’s statements were largely “broad and unsupported assertions”. Problem: by then the receiver had run up £772,547 in fees.’

Full story

UK Human Rights Blog, 15th May 2014

Source: www.ukhumanrightsblog.com

Barnes (as former Court Appointed Receiver) (Appellant) v The Eastenders Group and another (Respondents) – Supreme Court

Barnes (as former Court Appointed Receiver) (Appellant) v The Eastenders Group and another (Respondents) [2014] UKSC 26 (YouTube)

Supreme Court, 8th May 2014

Source: www.youtube.com/user/UKSupremeCourt

Helman v Keepers and Governors of the Possessions, Revenues and Goods of the Free Grammar School of John Lyon – WLR Daily

Helman v Keepers and Governors of the Possessions, Revenues and Goods of the Free Grammar School of John Lyon [2014] EWCA Civ 17; [2014] WLR (D) 20

‘Where the tenant of a long lease became bankrupt, a notice claiming to exercise the right of enfranchisement, pursuant to Part I of the Leasehold Reform Act 1967, served in the name of the bankrupt tenant by a receiver, appointed by a sub-chargee of the property, was invalid as by the time the notice was served the tenant was no longer the tenant as his tenancy had vested in his trustee in bankruptcy.’

WLR Daily, 22nd January 2014

Source: www.iclr.co.uk

Glatt v Sinclair (Glatt and others intervening) – WLR Daily

Glatt v Sinclair (Glatt and others intervening) [2013] EWCA Civ 241; [2013] WLR (D) 134

“A court had power to make an order permitting a receiver appointed by the court under the Criminal Justice Act 1988 to recover remuneration, disbursements and expenses for work done relating to the receivership once the receivership order had been discharged.”

WLR Daily, 26th March 2013

Source: www.iclr.co.uk

Crown Prosecution Service v Eastenders Cash and Carry plc and others – WLR Daily

Crown Prosecution Service v Eastenders Cash and Carry plc and others [2012] EWCA Crim 2436; [2012] WLR (D) 346

“Where restraint orders under the Proceeds of Crime Act 2002 were later set aside, the remuneration and expenses of the management receiver appointed under those orders were not recoverable either out of the assets of the companies to which the restraint orders related or from the Crown Prosecution Service.”

WLR Daily, 23rd November 2012

Source: www.iclr.co.uk

Withdrawn, dismissed or discontinued – the extent of consent – NearlyLegal

Posted October 29th, 2012 in appeals, consent orders, landlord & tenant, news, receivers, trespass by sally

“A case perhaps best filed under the ‘Ooops’ category, which only took a trip to the Court of Appeal to sort out.”

Full story

NearlyLegal, 25th October 2012

Source: www.nearlylegal.co.uk

Regina v Windsor and others – WLR Daily

Posted February 10th, 2011 in jurisdiction, law reports, proceeds of crime, receivers, restraining orders by sally

Regina v Windsor and others [2011] EWCA Crim 143; [2011] WLR (D) 41

“On an appeal against the making of restraint and receivership orders under Part 2 of the Proceeds of Crime Act 2002 the Court of Appeal has power to suspend the effect of its final order.”

WLR Daily, 9th February 2011

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.

Pitt and another v Holt and another – WLR Daily

Posted January 20th, 2010 in Court of Protection, law reports, mental health, receivers, setting aside by sally

Pitt and another v Holt and another [2010] WLR (D) 2

“A receiver appointed under the Mental Health Act 1983 by the Court of Protection was entitled to rely on the principle that, where a trustee exercised a discretion pursuant to the terms of the trust and the effect of the exercise was different from that intended, the court would set aside his action if it was clear that he would not have acted as he had, had he not failed to take into account considerations which he ought to have taken into account, or taken into account considerations which he ought not to have taken into account (‘the Hastings-Bass principle’).”

WLR daily, 19th January 2010

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.

 

Brittain v N (Aliane and Sear, Third Parties) – WLR Daily

Posted November 24th, 2009 in law reports, proceeds of crime, receivers by sally

B v N (A and S, Third Parties) [2009] EWHC 2884 (Admin); [2009] WLR (D) 340

“The court’s power under s 80(4) of the Criminal Justice Act 1988 (now repealed) to order ‘any person having possession of realisable property’ to give possession to a receiver did not empower the court to make such an order against tenants protected by contract and/or statute whose interests had not been determine by a court order.”

WLR Daily, 23rd November 2009

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.

In re Dairy Farmers of Britain Ltd – WLR Daily

In re Dairy Farmers of Britain Ltd [2009] EWHC 1389 (Ch); [2009] WLR (D) 201

“Parliament intended that Parts I and II of the Insolvency Act 1986 should not apply to an industrial and provident society (‘IPS’), and there was no reason for adopting a different approach to Part III of the Act, either generally or with specific reference to s 72A of the Act. Further, section 37 in Part III of the Act could have no specific application to receivers of an IPS.”

WLR Daily, 19th June 2009

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.

Sinclair and Another v Glatt and Others – Times Law Reports

Posted April 16th, 2009 in assets recovery, expenses, law reports, receivers, remuneration by sally

Sinclair and Another v Glatt and Others

Court of Appeal

“A court-appointed receiver could have a lien on the property held in a convict’s name even though he had only a bare legal interest in it. A pending financial relief claim of the former wife of the convict had no priority over the receiver’s lien.”

The Times, 16th April 2009

Source: www.timesonline.co.uk

Sinclair v Glatt and others – WLR Daily

Posted March 17th, 2009 in assets recovery, expenses, law reports, receivers, remuneration by sally

Sinclair v Glatt and others [2009] EWCA Civ 176; [2009] WLR (D) 97

“A receiver appointed pursuant to s 77 of the Criminal Justice Act 1988 to get in the assets of a convicted money launderer was entitled to recover his remuneration, costs and expenses from the realisable assets caught by the order. That right extended to assets to which the convicted person had legal title but which were beneficially owned by someone else.”

WLR Daily, 16th March 2009

Source: www.lawreports.co.uk

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

Masri v Consolidated Contractors International UK Ltd and Others (No 2) – Times Law Reports

Posted April 22nd, 2008 in execution, foreign jurisdictions, judgments, law reports, receivers by sally

Masri v Consolidated Contractors International UK Ltd and Others (No 2)

Court of Appeal

“The court had the power to appoint a receiver by way of equitable execution over future receipts from a defined asset.”

The Times, 22nd April 2008

Source: www.timesonline.co.uk

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

Masri v Consolidated Contractors International UK Ltd and others (No 2) – WLR Daily

Posted April 8th, 2008 in execution, foreign jurisdictions, judgments, law reports, receivers by sally

Masri v Consolidated Contractors International UK Ltd and others (No 2) [2008] EWCA Civ 303; [2008] WLR (D) 97

“There was no reason why the court should not exercise a power to appoint a receiver by way of equitable execution over future receipts from a defined asset. Applications for the appointment of a receiver over foreign debts and ancillary orders did not constitute proceedings concerned with the enforcement of judgments within the meaning of article 22(5) of Council Regulation (EC) No 44/2001.”

WLR Daily, 7th April 2008

Source: www.lawreports.co.uk

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