“Companies that provide expensive, short-term loans to desperate borrowers face tougher regulation by the government.”
The Guardian, 7th December 2011
Source: www.guardian.co.uk
Withers LLP v Langbar International Ltd [2011] EWCA Civ 1419; [2011] WLR (D) 351
“In asking whether money placed in the client account of a solicitor’s client were subject to a lien in favour of the solicitor the key question was whether the money had been placed in the account for general purposes or for a particular purpose which was incompatible with a lien arising.”
WLR Daily, 5th December 2011
Source: www.iclr.co.uk
“A high court judge has been asked to take action against a football industry debt rule described as revealing ‘the ugly side of the beautiful game’.”
The Guardian, 30th November 2011
Source: www.guardian.co.uk
McGuinness v Norwich and Peterborough Building Society [2011] EWCA Civ 1286; [2011] WLR (D) 324
“A petition in bankruptcy against a guarantor could be founded, in certain circumstances, upon a guarantee which had contained a ‘see to it’ clause.”
WLR Daily, 9th November 2011
Source: www.iclr.co.uk
“The Court of Appeal heard joined appeals considering the impact of insolvency on the right to make an order for possession and order for money judgment. Sharples concerned a possession claim brought under Ground 8 Housing Act 1988 (a mandatory ground for possession) and was a case in which the tenant had become bankrupt. Godfrey was a case in which possession was sought on discretionary grounds and the court of first instance had made a suspended possession order on terms of repayment of the arrears and granted money judgment; the order was made although the arrears were included within a debt relief order ‘DRO’.”
Hardwicke Chambers, 28th October 2011
Source: www.hardwicke.co.uk
“Social landlords face a constant struggle trying to persuade heavily indebted tenants that paying rent is a priority over paying off the tenants’ bigger, more threatening creditors.”
Full story (PDF)
Zenith Chambers, 13th September 2011
Source: www.zenithchambers.co.uk
“A music student at Cambridge University has been stripped of his picturesque Scottish island home after a court ruled it must be sold to pay off his criminal mother’s debts.”
Daily Telegraph, 22nd July 2011
Source: www.telegraph.co.uk
“HSBC bank has written off a customer’s overdraft after a judge decided it had unlawfully imprisoned her and harassed her with hundreds of phone calls.”
BBC News, 6th July 2011
Source: www.bbc.co.uk
White v Davenham Trust Ltd [2011] EWCA Civ 747; [2011] WLR (D) 212
“A guarantor of a debt could not set aside a statutory demand served by a creditor where the creditor had security over the assets of the principal debtor, and so could not serve a statutory demand on the principal debtor because of rule 6.5(4)(c) of the Insolvency Rules 1986, but had the benefit of an unsecured debt owed by the guarantor.”
WLR Daily, 28th June 2011
Source: www.iclr.co.uk
“Families who have lost loved ones under terrible circumstances are facing costs of £37,000 on average as they struggle to pick up the pieces, according to figures released today.”
Ministry of Justice, 11th May 2011
Source: www.justice.gov.uk
“A creditor was under a duty to disclose to the surety any contract or other dealing between creditor and debtor which changed the position of the debtor from that which the surety might naturally have expected, but was not under a duty to disclose to the surety other matters relating to the debtor which might be material for the surety to know.”
WLR Daily, 10th March 2011
Source: www.lawreports.co.uk
“A company was ‘deemed to be unable to pay its debts’ within section 123(2) of the Insolvency Act 1986 when the amount of its liabilities, taking into account its contingent and prospective liabilities, exceeded the value of its assets to such an extent that the company had reached the point of no return, and if it continued to use its cash or other assets for current purposes it would amount to a fraud on future or contingent creditors.”
WLR Daily, 8th March 2011
Source: www.lawreports.co.uk
Please note that once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
“The OFT has ordered Money Advice Direct Limited (MADL), a firm that introduces struggling borrowers to debt management companies, to stop using misleading advertising that presents it as a source of free help.”
The Guardian, 22nd February 2011
Source: www.guardian.co.uk
“Liabilities arising from the financial support direction (‘FSD’) regime created by the Pensions Act 2004 upon companies in administration or liquidation were payable as a liquidation or administration expense.”
WLR Daily, 13th December 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
Revenue and Customs Comrs v Maxwell and another [2010] EWCA Civ 1379; [2010] WLR (D) 219
“The amount of a creditor’s claim against a company in administration and the characterisation of the company’s debt to the creditor were to be assessed under r 2.38(4) and (5) of the Insolvency Rules 1986 at the date of the administration, not the date of the creditors’ meeting, but the chairman’s powers of quantification under rr 2.39(1) and (3) and 2.38(5) were to be exercised taking into account events which had occurred since the administration.”
WLR Daily, 8th December 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.
White v Davenham Trust Ltd [2010] EWHC 2748 (Ch); [2010] WLR (D) 272
“The mere existence of a secured remedy against another party was not a substantial ground for refusing to allow a creditor to pursue a remedy in bankruptcy against a surety.”
WLR Daily, 2nd November 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.
“More than 100 companies could lose their licence unless they comply with OFT rules after the watchdog discovered misleading advertising and poor advice were rife.”
The Guardian, 28th September 2010
Source: www.guardian.co.uk
“The requirement in s 123(2) of the Insolvency Act 1986 to ‘[take] into account [the company’s] contingent and prospective liabilities’ when determining whether the value of the company’s assets was less than the amount of its liabilities could not require such liabilities to be aggregated at their face value with debts presently due, nor require the conversion of prospective liabilities denominated in some currency other than sterling into sterling at the present spot rate.”
WLR Daily, 3rd August 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.
“Ministers are to consider capping interest rates as a campaign launches demanding action to stamp out legal loan sharking.”
The Guardian, 2nd August 2010
Source: www.guardian.co.uk
Mond and another v MBNA Europe Bank Ltd [2010] EWHC 1710 (Ch); [2010] WLR (D) 190
“Clause 13.2 of the IVA Protocol, as well as clause 13.1, should not be construed as permitting a creditor bound by the Protocol to vote against an individual voluntary arrangement (‘IVA’) proposal only if he has good reason to do so.”
WLR Daily, 16th July 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.
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