Key point

The English Courts have refused to discharge a bankruptcy order made on the basis of the individual's presence in the jurisdiction for one day only, where Russian asset freezing orders had been broken, the Court misled and in the knowledge recognition of a UK bankruptcy order in Russia was unlikely.

The facts

Key point

The UK Government has published its response to their July 2013 consultation on restoring transparency and trust in the UK corporate governance regime. There are a number of proposals to widen the scope of the director disqualification regime and make recovery of losses by creditors from responsible directors easier.

The response

Key Point

The High Court decided how the expected surplus assets of Lehman Brothers International Europe (LBIE) should be distributed between a number of creditors whose claims include subordinated loans, statutory interest and foreign currency conversion losses.

The Facts