Deep Purple was, and still is, a rock music band. Its members included Mr Gillan, Mr Glover and Mr Paice. In 2005, band members entered into an agreement with HEC Enterprises Limited (HEC) and Deep Purple (Overseas) Limited (DPO). Under that agreement, the parties agreed to form a new company named Purpletuity, to which various copyrights and other assets were to be transferred. In 2015, Mr Gillan, Mr Glover and Mr Paice commenced proceedings against HEC and DPO to enforce that agreement.
In Mclean v Trustees of the Bankruptcy Estate of Dent [2016] EWHC 2650, the High Court considered the application of the equitable doctrines of marshalling and subrogation in relation to a fixed charge over (among other things) a dog.
A company and partnership borrowed funds from two sources – Barclays Bank and Lady Morrison. Barclays held, among other things, charges over farms owned by individual partners and an agricultural charge under the Agricultural Credits Act 1928 (UK), including a charge over a dog. Lady Morrison only held charges over the farms.
In Day v The Official Assignee as Liquidator of GN Networks Ltd (in Liq) [2016] NZHC 2400, the High Court rejected a claim that the funding arrangement at issue constituted maintenance or champerty.
The European Commission has published a paper on its study covering pre-insolvency, early intervention, reorganisation and liquidation.
The FSA has published the statement that it has provided to the court appointed examiner of Lehman Brothers Holding Inc, which is referred to in his wider report on the collapse of Lehman Brothers published on 11 March 2010.
View FSA statement to the US bankruptcy court examiner on the collapse of Lehman Brothers Holdings Inc, 12 March 2010
HM Treasury has published a consultation paper which is entitled Special Resolution Regime: the draft FSMA (Contribution to Costs of Special Resolution Regime) Regulations 2010.
This consultation seeks views on all aspects of the draft Financial Services and Markets Act 2000 (Contribution to Costs of Special Resolution Regime) Regulations 2010 which will be made under the new FSMA provisions when clause 28 of the Financial Services Bill is enacted.
The deadline for comments on the consultation is 15 June 2010.
The FSA has published a short update on Lifemark S.A. (Lifemark). The FSA reports that on 11 February 2010, the Luxembourg financial services regulator, the Commission de Surveillance du Secteur Financier (the CSSF), applied to the Court in Luxembourg to extend the appointment of Eric Collard of KPMG as provisional administrator in respect of Lifemark.
The FSA has published a statement that provides an update on The Freedom SIPP Limited - In Liquidation.
PricewaterhouseCoopers, liquidators of the Freedom SIPP Limited has appointed an agent to wind up the Freedom SIPP Scheme.
View Update on The Freedom SIPP Limited - In Liquidation, 29 January 2010
HM Treasury has issued a press release stating that the Government welcomes the European Commission's approval of the restructuring of the Royal Bank of Scotland and State Aid approval for the Asset Protection Scheme.
View Government welcomes approval of RBS restructuring, 14 December 2009
The FSA has released a further update on Keydata Investment Services Limited. The update reads as follows:
"On 18 November 2009 the Luxembourg financial services regulator, the Commission de Surveillance du Secteur Financier (the CSSF) applied to the Luxembourg court for Eric Collard of KPMG ADVISORY s.a.r.l to be appointed as administrateur provisoire (provisional administrator) of Lifemark S.A. (Lifemark).