The Facts

This case is the first to really consider the practical impact of the recent Court of Appeal decision in Shlosberg v Avonwick [2016] EWCA Civ 1138, in which it was decided that legal professional privilege does not vest in a Trustee in Bankruptcy.

The Facts

The government's response to the recent Insolvency and Corporate Governance Consultation has increased the emphasis on flexibility and the restructure and rescue of businesses. However, along with the recent October Budget, there are proposed reforms which are set to increase the focus and accountability for directors of companies.

Preliminary Moratorium

One of the key new proposals to be introduced with the aim of rescuing companies is a "Preliminary Moratorium".

The Facts

Restructuring & Insolvency analysis: Connor Pierce, solicitor at Ashfords LLP, examines a High Court judge’s dismissal of an appeal against a deputy registrar’s refusal to set aside a statutory demand made on the appellant, which was based on a personal guarantee he had given the respondent.

Wagner v White [2018] EWHC 2882 (Ch), [2018] All ER (D) 16 (Nov)

What are the practical implications of this case?

The case is a useful authority for statutory demands founded on personal guarantees.

The Facts

The Claimant purchased various rights to action from the Liquidator of a Company. The Deed of Assignment included the right to bring a claim for "alleged illegal dividends and/or transactions at an undervalue" arising out of payments to the Defendant, a director/shareholder, had received. It is important to note that the Deed of Assignment did not grant the right to bring a claim for Preference.