Key Points

• Court considers the impact of the Spanish Insolvency Act on guarantees governed by English law
• Court holds that the liability under the guarantee was not extinguished

The Facts

Key Points

• Interpretation of EU case law on protection of pension payments on employer insolvency not “entirely free from doubt”

The Facts

The claimant (C) was a member of the T&N defined benefit pension scheme from 1971 to 1998. In 2006, the scheme entered a PPF assessment period and C calculated that his pension under the PPF would, as a result of caps and limitations on indexation, be roughly 67% less than what he had previously expected.

Key Points

• Trustees in bankruptcy entitled to more than return of shares wrongfully transferred by bankrupt
• Trustees also entitled to recover loss in the value of shares
• Appropriate basis of valuation was fair value (not market value)

The Facts

Key points

• Court does not have jurisdiction to direct detailed assessment of fees agreed by administrators on application of liquidator
• Administrators can agree solicitors’ fees for work carried out during the administration after they cease holding office
• The court has no inherent jurisdiction to direct a detailed assessment

The facts

Key Points

• Court held notice to scheme creditors (here two weeks) was not sufficient in light of complexity of scheme
• Court also highlighted deficiencies in supporting documentation

The Facts

Key points

• Principles applying to exercise of liquidators’ powers are the same as those prior to legislative changes
• Views of creditors influenced by personal considerations to be disregarded
• The overriding requirement is for liquidators to exercise their professional judgment in the best interests of creditors

The facts

Key Points

• Test for personal service of bankruptcy petition same as for claim forms
• Document to be handed to debtor or contents explained and left “with or near” debtor
• Rule 7.55 can be used to remedy any irregularity in service if necessary

The Facts

Key Points

• An administrator may be able appeal an order restoring a company following dissolution
• The court has jurisdiction to backdate a winding up order made following restoration to the date of dissolution
• The court must exercise its discretion to do so with extreme caution

The Facts

Client Connection Limited (“Company”) was placed into administration and Ms Sharma (“A”) was appointed as administrator. Following a pre-pack sale of the business of the Company, A moved the Company to dissolution.

Key Points

• Court considers the ownership of assets situated at premises owned by the bankrupt in the context of limited relevant evidence
• Court emphasises the importance of joining the correct parties to litigation

The Facts

Key points

• Section 236 (inquiry into company’s dealings) does not have extra-territorial effect
• Section 237(3) (examination) only has extra-territorial effect where appropriate machinery exists in the foreign jurisdiction
• Taking of Evidence Regulation not available where litigation not commenced or contemplated

The facts