High Court removes privilege in fraud claim involving top law firm – Legal Futures

Posted August 2nd, 2023 in disclosure, documents, fraud, insolvency, law firms, legal profession, news, privilege by sally

‘Legal professional privilege should not apply in a case where there is a “very good arguable case” that a client used global firm DLA Piper’s services to assist a fraud, the High Court has ruled.’

Full Story

Legal Futures, 2nd August 2023

Source: www.legalfutures.co.uk

Challenging CVAs as a creditor – Local Government Lawyer

‘Karen Morean and William O’Brien outline how creditor local authorities can challenge a company voluntary arrangement.’

Full Story

Local Government Lawyer, 30th June 2023

Source: www.localgovernmentlawyer.co.uk

Court rules that genuine attempt to restructure did not put assets beyond reach of creditors – OUT-LAW.com

Posted June 21st, 2023 in company law, fraud, insolvency, news, winding up by tracey

‘A recent ruling of the English High Court found that a genuine attempt to restructure a company did not amount to an ‘informal winding-up’ in contradiction of insolvency laws on the distribution of assets to creditors.’

Full Story

OUT-LAW.com, 20th June 2023

Source: www.pinsentmasons.com

Ex-One Legal staff given pay award over redundancy without notice – Legal Futures

‘Sixty-four former employees of One Legal – the alternative business structure that owned two criminal law firms – have been granted full protective awards because they were made redundant without notice.’

Full Story

Legal Futures, 21st June 2023

Source: www.legalfutures.co.uk

How insolvency impacts intellectual property licenses – OUT-LAW.com

Posted June 1st, 2023 in insolvency, intellectual property, licensing, news by sally

‘Licensing is the backbone of many businesses, but many are unaware of how the current economic downturn could affect their operations as both licensees and licensors.’

Full Story

OUT-LAW.com, 30th May 2023

Source: www.pinsentmasons.com

The English courts found to have jurisdiction where an alternative forum was available – Mills & Reeve

Posted April 5th, 2023 in chambers articles, dispute resolution, fraud, insolvency, jurisdiction, news by sally

‘In a complex piece of litigation in which international fraud is alleged, four defendants contested the jurisdiction of the English courts to hear the claims and the associated insolvency applications. Applying the two-stage test in Spiliada Maritime Corp v Cansulex Ltd [1987], the Court dismissed the applications.’

Full Story

Mills & Reeve, 3rd April 2023

Source: www.mills-reeve.com

Case Preview: R (on the application of Palmer) v Northern Derbyshire Magistrates Court and Anor – UKSC Blog

‘In this post, Ingrida Jakuseva, a paralegal within the Litigation and Arbitration department at CMS, previews the decision awaited from the Supreme Court in R (on the application of Palmer) v Northern Derbyshire Magistrates Court and Anor. The application for permission to appeal will be heard by the Supreme Court on 8 March 2023.’

Full Story

UKSC Blog, 1st March 2023

Source: ukscblog.com

UK high court approves Bulb takeover by Octopus Energy – The Guardian

Posted December 2nd, 2022 in administrators, company law, energy, insolvency, judicial review, news by tracey

‘The takeover of the collapsed energy supplier Bulb in a deal which would create the UK’s third largest gas and electricity provider has been approved in a London court.’

Full Story

The Guardian, 30th November 2022

Source: www.theguardian.com

Surgical Mesh claims stayed following recognition of Chapter 11 Proceedings (Re Astora Women’s Health LLC) – Gatehouse Chambers

Posted October 20th, 2022 in financial regulation, foreign companies, insolvency, international law, news by sally

‘The Insolvency and Companies Court has recognised Chapter 11 Proceedings in the US in respect of the manufacturer of controversial surgical mesh products which have generated a significant number of claims worldwide. The British Claimants have had their claims stayed as a result of this recognition.’

Full Story

Gatehouse Chambers, 11th October 2022

Source: gatehouselaw.co.uk

No cause of action at common law for wrongful eviction – Nearly Legal

Posted October 17th, 2022 in company law, housing, insolvency, landlord & tenant, liquidators, news, repossession by sally

“The Brake v Axnoller litigation reaches the Court of Appeal again, this time on the unlawful eviction claim concerning the cottage, which the Brakes had lost at first instance. In what is the stamp of this sprawling array of litigation, there are some deeply recherché issues of law. In a development that is less common, the Brakes partly won – though what the significance of this is remains deeply unclear.”

Full Story

Nearly Legal, 16th October 2022

Source: nearlylegal.co.uk

Supreme Court rules on creditor duty – Law Society’s Gazette

“The Supreme Court has handed down a significant judgment in BTI 2014 LLC v Sequana SA. It addresses the existence, substance and circumstances of the ‘creditor duty’ – the duty of company directors to consider or act in accordance with the interests of companies’ creditors in the context of prospective insolvency.”

Full Story

Law Society's Gazette, 14th October 2022

Source: www.lawgazette.co.uk

Supreme Court rules on directors duty to act in interests of creditors – OUT-LAW.com

‘Company directors need to remain wary of their duty to consider the interests of creditors in certain circumstances, despite a new UK Supreme Court ruling that they are likely to welcome, experts have said.’

Full Story

OUT-LAW.com, 10th October 2022

Source: www.pinsentmasons.com

New Judgment: BTI 2014 LLC v Sequana SA and others [2022] UKSC 25 – UKSC Blog

‘This appeal raised questions of considerable importance for company law. It provides the first opportunity for the Supreme Court to consider the existence, content and engagement of the so-called “creditor duty”: the alleged duty of company directors to consider, or to act in accordance with, the interests of the company’s creditors when the company becomes insolvent, or when it approaches, or is at real risk of, insolvency.’

Full Story

UKSC Blog, 5th October 2022

Source: ukscblog.com

TCC provides reminder of the meaning of paragraph 9(2) of the Scheme – Practical Law: Construction Blog

Posted August 19th, 2022 in construction industry, dispute resolution, guarantees, insolvency, news by tracey

‘I appreciate that some of you might be reading this blog on your summer holidays, so you may well have far better things to be doing with your time (ordering another piña colada perhaps?). I will therefore keep the blog short – what might be termed a “blogette”. As one would expect over the summer break, there haven’t been many reported TCC cases recently and so the case I want to discuss today is from June, namely ML Hart Builders Ltd (in liquidation) v Swiss Cottage Properties Ltd, which is a judgment of Mr Roger Ter Haar QC sitting as a deputy High Court judge.’

Full Story

Practical Law: Construction Blog, 17th August 2022

Source: constructionblog.practicallaw.com

Lincoln Covid loan abuser gets 10-year business ban – BBC News

Posted August 8th, 2022 in company directors, coronavirus, insolvency, loans, news by tracey

‘A Lincoln student has been banned from running a company for 10 years after abusing a Covid recovery loan.’

Full Story

BBC News, 8th August 2022

Source: www.bbc.co.uk

Unlocking the crypt: insolvency & cryptocurrency – New Law Journal

Posted July 13th, 2022 in bankruptcy, company directors, cryptocurrencies, insolvency, news by tracey

‘Despite the UK’s intention to be a global leader in cryptoassets, the courts are still wrestling with the basics: Rachel Coyle of 36 Commercial explains why it’s time to get to grips with the insolvency context.’

Full Story

New Law Journal, 8th July 2022

Source: www.newlawjournal.co.uk

FTH v Varis Developments – adjudication and insolvency meet head on again – Practical Law: Construction Blog

‘In its decision in Bresco v Lonsdale, the Supreme Court confirmed that insolvent companies have the statutory and contractual right to adjudicate construction disputes, even if that claim is affected by insolvency set-off.’

Full Story

Practical Law: Construction Blog , 29th June 2022

Source: constructionblog.practicallaw.com

The obligation to pay a notified sum where the contractor is insolvent – Practical Law: Construction Blog

Posted June 17th, 2022 in construction industry, enforcement, insolvency, news by tracey

‘The general rule created by section 111 of the Construction Act 1996 is well known: in the absence of a pay less notice, the notified sum is to be paid without set-off or deduction. Although this is capable of causing problems for an employer in the short term, any overpayments can usually be corrected in future payment cycles (whether interim or final) or by a true value adjudication (following S&T (UK) Ltd v Grove Developments Ltd).’

Full Story

Practical Law: Construction Blog, 15th June 2022

Source: constructionblog.practicallaw.com

Solicitors lose appeal over £2m invoice charged through DBA – Law Society’s Gazette

Posted May 13th, 2022 in appeals, costs, damages, insolvency, law firms, news, solicitors by tracey

‘The Court of Appeal has dismissed an attempt by solicitors to secure a £2m payment from an insolvent client for work carried out on a damages based agreement.’

Full Story

Law Society's Gazette, 12th May 2022

Source: www.lawgazette.co.uk

Case Preview: Stanford International Bank Ltd (In Liquidation) v HSBC Bank Plc – UKSC Blog

Posted April 27th, 2022 in appeals, banking, damages, debts, insolvency, liquidators, news, Supreme Court by sally

‘On 19 January 2022, the Supreme Court heard the appeal in Stanford International Bank Ltd (In Liquidation) v HSBC Bank Plc. The appeal turns on whether a company in liquidation can be considered to have suffered loss where, while it is still trading, its bank pays money out of the company’s accounts to discharge debts owed by the company. It is likely that this case will further set out the limits of the Quincecare duty, following a spate of recent high-profile cases in this area.’

Full Story

UKSC Blog, 26th April 2022

Source: ukscblog.com