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When a debtor files bankruptcy, bankruptcy attorneys and creditors are well aware of the importance of assessing the need for creditors to file proofs of claim and making sure that proofs of claim are timely filed.

In SPV Optimal Osus Limited -v- HSBC Institutional Trust Services (Ireland) Limited & Ors the Court of Appeal rejected an appeal of a High Court decision dismissing proceedings as being frivolous and vexatious and bound to fail on the basis that the proceedings against the defendants were contrary to public policy, void and unenforceable as a matter of law since the assignment of the right to litigate third party claims amou