Company boss banned over £145k Covid support claims – BBC News
‘A businessman has been banned from being a company director after making bogus claims for £145,000 in Covid-19 support grants.’
BBC News, 3rd September 2024
Source: www.bbc.co.uk
Category: insolvency
Judges releases law firm from privilege to defend claim – Legal Futures
‘A City law firm will be able to fully defend itself from serious allegations in the High Court after a judge held that its former clients cannot claim legal professional privilege (LPP) because of the iniquity exemption.’
Legal Futures, 29th August 2024
Source: www.legalfutures.co.uk
Judge’s “concern” that law firm’s administrator was too close to owner – Legal Futures
‘A judge has set aside his order for payment of a law firm’s administrator after new evidence raised “a sense of real unease and concern” about the decision.’
Legal Futures, 27th August 2024
Source: www.legalfutures.co.uk
What’s the Matter? Insolvency and Arbitration Following Sian Participation – Pump Court Chambers
‘The presence of a generally worded arbitration agreement or exclusive jurisdiction clause applicable to the debt relied upon by a creditor bringing a winding-up petition should not lead to the stay or dismissal of the petition unless the debt is genuinely disputed on substantial grounds.’
Pump Court Chambers, 2nd July 2024
Source: www.pumpcourtchambers.com
No fixed charge over IP addresses – Mills & Reeve
‘Having considered the circumstances relating to, and the security granted over, various IP addresses (the “addresses”), the Court held that the security granted over the addresses, was floating charge, rather than fixed charge, security and ordered accordingly.’
Mills & Reeve, 13th August 2024
Source: www.mills-reeve.com
BHS, a case of misfeasant trading – Mills & Reeve
‘In a lengthy judgment the Court has ordered that former directors of BHS are to pay sums arising in both wrongful trading and in “trading” misfeasance.’
Mills & Reeve, 13th August 2024
Source: www.mills-reeve.com
Remind me about … tPR’s moral hazard powers – Pensions Barrister
‘In the third of this “Remind me about” series, Oliver Hilton of Radcliffe Chambers looks at tPR’s moral hazard powers. The “Remind me about” series is aimed as a training tool and as an update for busy practitioners.’
Pensions Barrister, 25th July 2024
Source: www.pensionsbarrister.com
Sian v Halimedia: Insolvency vs Arbitration – Article by Ernest Leung cited in recent Privy Council decision – Wilberforce Chambers
‘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
Two former BHS directors ordered to pay at least £18m over wrongful trading – The Guardian
‘Two former directors of the collapsed department store chain BHS have been ordered to pay at least £18m after the pair were found liable for wrongful trading and breaching their corporate duties.’
The Guardian, 11th June 2024
Source: www.theguardian.com
IP addresses ruled floating charge under loan security agreement – OUT-LAW.com
‘Lenders should be aware that despite their static nature, IP addresses have been classified as floating charge assets under a loan security agreement by a recent decision of the High Court of England and Wales. There are legal and practical considerations for lenders and their advisers when securing digital assets, following the ruling.’
OUT-LAW.com, 7th June 2024
Source: www.pinsentmasons.com
Administration extension pitfalls and recent UK court decisions – OUT-LAW.com
‘The administration of a company automatically comes to an end on the first anniversary of its commencement. However, the period can be extended beyond the first anniversary with the consent of the creditors or the court.’
OUT-LAW.com, 17th May 2024
Source: www.pinsentmasons.com
High Court judge finds decision by planning inspector that appeal was not properly made was wrong – Local Government Lawyer
‘An inspector failed to properly consider the position of a company that had entered liquidation while pursuing a planning appeal, the High Court has found.’
Local Government Lawyer, 16th May 2024
Source: www.localgovernmentlawyer.co.uk
Substantial Disposals by Administrators in the First Eight Weeks: When is the purchaser a “connected person” and when is an evaluator independent? – Wilberforce Chambers
‘David Pollard has published a three part article on Substantial Disposals by Administrators in the First Eight Weeks: When is the purchaser a “connected person” and when is an evaluator independent?
Published in the journal International Corporate Rescue, it discusses the statutory tests applicable when an administrator of a company seeks to make a substantial disposal during the first eight weeks of an administration under the Insolvency Act 1986.’
Wilberforce Chambers, 29th April 2024
Source: www.wilberforce.co.uk
When is an administrator an ‘officer’ of the company? – Legal Studies
‘When a company becomes insolvent, particularly if it is a large company, this will often mean that there will be a large-scale redundancy process. The requirements of the process can be technical, but there is a list of obligations that must be adhered and these are set out within the Trade Union and Labour Relations (Consolidation) Act 1992 (TULRCA 1992).’
Legal Studies, 19th April 2024
Source: www.cambridge.org
Former administrators have standing to apply for additional remuneration but application dismissed (Frost and another v The Good Box Co Labs Limited and others) – Gatehouse Chambers
‘Dispute Resolution analysis: An application by the former administrators of a company for an increase in their remuneration has been dismissed, despite the Court concluding that they had standing to bring the application itself.’
Gatehouse Chambers, 19th April 2024
Source: gatehouselaw.co.uk
Insolvency law “entirely capable” of dealing with digital assets – Legal Futures
‘English insolvency law is “entirely capable of convenient and sensible application to disputes concerning digital assets”, an expert panel has declared.’
Legal Futures, 24th April 2024
Source: www.legalfutures.co.uk
Pension crimes, fines and insolvency practitioners – Pensions Barrister
‘David Pollard of Wilberforce Chambers has written an article about the relevance of the recent Supreme Court decision in R (Palmer) – in which it was held that an administrator was not in the class of persons liable to prosecution under the Trade Union and Labour Relations (Consolidation) Act 1992 for alleged failure to give notice to the SoS of proposed collective redundancies – to crimes and fines under pensions legislation.’
Pensions Barrister, 18th April 2024
Source: www.pensionsbarrister.com
Hull funeral home inquiry: Legal move to close Legacy stalls – BBC News
‘A formal move to dissolve the funeral firm at the centre of a police inquiry could not proceed in court.’
BBC News, 9th April 2024
Source: www.bbc.co.uk
Case Comment: Byers and others v Saudi National Bank [2023] – UKSC Blog
‘In this post, Adam Ferris (Senior Associate) in the Finance Disputes Team at CMS and Henry Powell (Associate) in the Real Estate Disputes Team at CMS comment on the judgment of the Supreme Court in Byers and Ors v Saudi National Bank [2023] UKSC 51, which was handed down on 20 December 2023.’
UKSC Blog, 26th March 2024
Source: ukscblog.com
