Supreme Court decision highlights importance of contract terms in protecting principal from agent’s insolvency

The Supreme Court has held that a principal was entitled to recover payments collected by its agent on its behalf following the agent's insolvency: Bailey and another (Respondents) v Angove's PTY Limited (Appellant) [2016] UKSC 47.

Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Interest, Debt, Liquidation, Liquidator (law), Bill of lading, Constructive trust, Pro rata, Supreme Court of the United States, Court of Appeal of England & Wales, UK Supreme Court
Authors:
Gareth Keillor , Jade Hu
Location:
United Kingdom
Firm:
Herbert Smith Freehills LLP