Key Points
Key Points
- COMI of Jersey companies held to be in England and Wales
- Argument of improper motive generally insignificant where purpose of administration can be achieved
The Facts
Key Points
- Costs incurred in preparing to comply with disclosure orders not payable by liquidators
- Protection for wasted costs should have been sought earlier in the proceedings
The Facts
Key Points
- Provisions of the Civil Procedure Rules apply to applications for an extension of time to apply for rescission of winding up order
- Any such extensions of time should be exceptional and for a very short period
The Facts
Fans of Star Trek: The Next Generation will well-remember that a constant threat to the crew of the Starship Enterprise was The Borg, a multi-species civilization that operated as a collective consciousness, with all individuality extinguished. When confronting any other civilization, The Borg Collective always announced: “We are the Borg. Your biological and technological distinctiveness will be added to our own. Resistance is futile.”
Key Points
- A dividend is a ‘transaction’ and therefore can be challenged under s 423 IA 86
- A duty to act in the best interests of creditors does not arise simply because there is a risk of insolvency which is not ‘remote’
The Facts
Key Points
In Through the Looking Glass, Lewis Carroll’s sequel to Alice’s Adventures in Wonderland, there is a famous exchange between Humpty Dumpty and Alice regarding the meaning of words. Toward the end of that dialogue, Alice asked Humpty Dumpty what he meant by the word “impenetrability.” Humpty Dumpty’s response was to not only give the word a meaning that would not be found in any dictionary, but to also expand the meaning he gave the word so that it required affirmative action on Alice’s part.
Having launched the original version three years ago, we have refreshed our Safeguarding Your Business guide as an eBook. The guide assists clients in protecting themselves either proactively or reactively in respect of a counterparty’s insolvency with new sections on trusts and examples of how we have helped, using some of the principles raised.
Key Points
- Interpretation of EU case law on protection of pension payments on employer insolvency not “entirely free from doubt”
The Facts
The claimant (C) was a member of the T&N defined benefit pension scheme from 1971 to 1998. In 2006, the scheme entered a PPF assessment period and C calculated that his pension under the PPF would, as a result of caps and limitations on indexation, be roughly 67% less than what he had previously expected.