‘A new ruling by the UK Supreme Court confirms that creditors can obtain remedies if transactions entered into at an undervalue have the purpose and effect of prejudicing claims the creditors have against the debtor – even if the debtor has not personally agreed those transactions.’
OUT-LAW.com, 20th February 2025
Source: www.pinsentmasons.com
‘A Supreme Court judgment centred on the construction of section 423 of the Insolvency Act 1986, which provides remedies to creditors where a debtor takes steps to defeat or prejudice their claims, “should be welcomed by all creditors”, solicitors say.’
Law Society's Gazette, 20th February 2025
Source: www.lawgazette.co.uk
‘In England and Wales, where a bankruptcy petition (the “Petition”) has been presented against a debtor/defendant, one potential option the debtor/defendant (“Debtor”) may seem to have available, in order to avoid a bankruptcy order, is to ask family, friend(s) or a colleague(s) etc. (a “Third Party”), to pay off the Petition debt for the Debtor. If the Debtor is fortunate enough to have a Third Party willing to do this:
(a) will this amount to the Petition debt being properly satisfied, such that the Petition must be dismissed?
(b) should the Third Party payment be made direct to the Petitioner (i.e. not to the Debtor for the Debtor to then forward it on to the Petitioner)?
(c) must the Third Party make a gift of the money, or can the payment be part of a loan arrangement with the Debtor?’
33 Bedford Row, 16th February 2025
Source: www.33bedfordrow.co.uk
‘A freezing order is a court order which prevents a party from disposing of or dealing with its assets. It is therefore an essential tool for those looking to protect assets to ensure those assets are available to satisfy a court order.’
OUT-LAW.com, 14th February 2025
Source: www.pinsentmasons.com
‘This paper argues that solicitors are required to lawyer relationally when delivering independent legal advice (ILA) to (predominantly) women set to provide suretyship for their intimate partner’s debts. Case law tells us that women providing suretyship may be entering the transaction under the coercion of their partner. Coerced debt is a form of economic abuse, which in turn is a form of domestic abuse. ILA in this context therefore provides an important intervention to potentially assist victims of abuse before entering (potentially more) debt at the hands of their abuser. To make ILA purposeful, solicitors must prioritise relational values/dynamics such as consultation, care, judgement, and empowerment; the anti-thesis of market-exchange lawyering which is characterised by the values such as objectivity and detachment. Market-exchange lawyering is also associated with ethical apathy as lawyers prioritise their client’s means-ends above all else, therefore failing to consider the broader implications of those ends (in terms of their client’s best interests and/or the public interest). Drawing on interview data with 22 solicitors, it is demonstrated that most interviewees provide tick-box ILA prioritising completion. That is, most interviewees prioritised values of commerce over values of care when acting for women who may be experiencing economic abuse.’
Legal Ethics, 15th January 2025
Source: www.tandfonline.com
‘In Alphier Capital LLP v Blyvoor Gold Capital (Pty) Ltd [2024] EWHC 2649 (ChD), the High Court refused to strike out a claim brought by an assignee, notwithstanding a contractual bar on assignment. Instead, it allowed the addition of the original assignor who could pursue the claim at trial.’
Henderson Chambers, 4th November 2024
Source: www.hendersonchambers.co.uk
‘Thames Water has won court approval to secure a £3bn cash lifeline from some of its biggest creditors.’
The Guardian, 17th December 2024
Source: www.theguardian.com
‘A creditor has been prohibited from obtaining a mandatory injunction that would have required a debtor to draw down a lump sum from his occupational pension scheme for the purpose of paying a default judgment.’
OUT-LAW.com, 9th December 2024
Source: www.pinsentmasons.com
‘Yisroel Greenberg explores the circumstances in which an insolvency administration order should be considered, summarises the legal framework, and offers some practical suggestions when considering applying for one’
Local Government Lawyer, 1st November 2024
Source: www.localgovernmentlawyer.co.uk
‘A well-known sports law firm has failed to convince the High Court to restrain a litigation funder from advertising a winding-up petition over a loan it has not repaid.’
Legal Futures, 28th October 2024
Source: www.legalfutures.co.uk
‘In a significant decision clarifying the scope of the ‘Mackay v Dick’ principle, the Court of Appeal has ruled that a party cannot rely on the non-fulfilment of a condition precedent to a debt to avoid its obligation to pay where the non-fulfilment is caused by its own breach of contract. The decision reflects the English contract law maxim that a person should not be permitted to take advantage of their own wrongdoing.’
Gatehouse Chambers, 7th August 2024
Source: gatehouselaw.co.uk
‘This guide considers the tax implications of using a UK holding company to hold shares in other UK or overseas companies.’
OUT-LAW.com, 9th August 2024
Source: www.pinsentmasons.com
‘In Sian Participation Corp v Halimedia International Ltd [2024] UKPC 16, Lords Briggs and Hamblen considered the issue of whether insolvency proceedings should be stayed where the underlying debt was covered by an arbitration agreement. In an appeal from the BVI, the Privy Council rejected the approach in Salford Estates (No 2) Ltd v Altomart Ltd (No 2) [2014] EWCA Civ 1575 where the English Court of Appeal stated that insolvency proceedings should be stayed in favour of arbitration proceedings unless there are exceptional circumstances (“the Salford Approach”). This means that even if the debtor company could not show that the debt is genuinely disputed on substantial grounds (a relatively low threshold), the petitioning creditor will still have to go through the arbitration process to establish the debt before seeking a winding-up order.’
Wilberforce Chambers, 21st June 2024
Source: www.wilberforce.co.uk
‘On 12 June 2024, the Court of Appeal gave judgment in Palladian Partners LP v The Republic of Argentina [2024] EWCA Civ 641, dismissing Argentina’s appeal against a judgment of Picken J ([2023] EWHC 711 (Comm)) which awarded €1.33bn to institutional and corporate holders of certain Euro-denominated debt securities linked to Argentina’s GDP (“the Securities”) under which Argentina had failed to make payment.’
39 Essex Chambers, 14th June 2024
Source: www.39essex.com
‘A law firm can be paid from monies held in its client account despite them being subject to both a freezing order and a third-party debt order, the High Court has ruled.’
Legal Futures, 30th April 2024
Source: www.legalfutures.co.uk
‘An order giving permission to appeal may be made subject to condition. In the recent case of Palladian Partners LP and others v The Republic of Argentina and another [2024] EWCA Civ 139, the Court of Appeal made an order granting Argentina permission to appeal the first instance judgment conditional on Argentina paying €310m to be held in escrow pending determination of the appeal. Argentina sought reconsideration of the imposition of that condition.’
Law Society's Gazette, 19th April 2024
Source: www.lawgazette.co.uk
‘Dispute Resolution analysis: The Defendants and Third Party who collectively advanced an untrue narrative in opposing a third party debt order were held jointly and severally liable to pay the Claimant’s costs. The fixed costs provisions in CPR Part 45 were disapplied in light of that concerted opposition.’
Gatehouse Chambers, 18th March 2024
Source: gatehouselaw.co.uk
‘The number of households seeking help to deal with court action over their unpaid energy bills has doubled in the last year, according to Citizens Advice.’
The Guardian, 5th April 2024
Source: www.theguardian.com
‘UK regulators are warning they will take “robust action” against firms that are putting consumers’ mental health at risk by using threatening tones and inundating already-vulnerable borrowers with letters, calls and emails, about their debts.’
The Guardian, 18th March 2024
Source: www.theguardian.com
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