In our recent article of 4 November 2014 we referred to a new case where the controversial decision in Raithatha v Williamson would be reconsidered. 

On 17 December 2014 the High Court handed down judgment in the case of Horton v Henry. The decision has been highly anticipated. 

McKellar v Griffin emphasises the importance for IPs of establishing the COMI of a foreign company before accepting an appointment as administrators. 

In McKellar (decided in June 2014) the court, on the application of a foreign liquidator, declared that the administrators’ appointment was invalid because the company’s COMI was not in England and Wales. So where does that leave unfortunate insolvency practitioners in similar situations? 

In March the Government announced new pension reforms. From April 2015 pensioners reaching 55 years will be entitled to draw down their entire pension pot, to do with as they wish. Pensions minister Steve Webb was famously quoted as saying that pensioners should be able to “buy a Lamborghini” with their pension pot if they so wish. And if pensioners subsequently ran out of money, well, they would have the state pension to fall back on, after all. 

On 24 February 2014 the Court of Appeal delivered its long awaited judgment in the GAME Group litigation (Pillar Denton Limited & Ors -v- Jervis & Ors). 

This is an extremely important decision and will affect every trading administration where the company is a tenant. 

In Re Parmeko Holdings Limited the Court had to consider whether to give directions to Administrators where creditors had failed to vote on their proposals. The Court also considered the terms of Administrators’ standard proposals.

In Re Parmeko the proposals provided for the Administrators to:-

• Continue to manage the company’s business and affairs in accordance with the statutory purposes;
• Make payments to secured / preferential creditors;
• Seek one of various exit routes;

And for