In Shlosberg v Avonwick Holdings Ltd [2016] EWHC 1001 (Ch), Mr Shloesberg applied for an order restraining Dechert (a firm of solicitors) from acting for Avonwick (the first respondent) and Mr Shloesberg's Trustees in bankruptcy (the third respondents).
In Erwood v Official Assignee [2015] NZCA 478 an application was made to review a decision declining to dispense with security for costs. The applicant, Mr Erwood, argued that he had demonstrated impecuniosity, and that the Registrar had erred in finding to the contrary.
Mr Erwood held nearly $800,000 on deposit with a bank. His account had been frozen by the bank on the basis that Mr Erwood lacked the capacity to give the bank authority for the account. The bank had formed this view on information provided to them by Mr Erwood.
Torchlight was a private equity fund investing in distressed assets. One of its investments was the purchase of a debt from Bank of Scotland International totalling $185m, of which Torchlight had repaid all but $37m. Being in a difficult liquidity position to pay off the debt, Torchlight sought bridging finance from a Mr Grill. Torchlight and Mr Grill entered into a 60-day contract in which Mr Grill would provide $37m to discharge the debt.