The Hobson Apartments suffer from water tightness issues. Unusually for a unit development, the top floor apartment on level 12 owned by the appellant Manchester Securities, owned the exterior of its unit including the roof of the building rather than the Body Corporate. Severe water damage was identified in October 2009. Following a series of High Court decisions and one Court of Appeal decision, Manchester Securities was required to contribute certain amounts to the Body Corporate for repair costs.
Mr Hampton was adjudicated bankrupt five years previously. Following his public examination and the filing of the Official Assignee's report, the Official Assignee and Commissioner of Inland Revenue (a creditor) accepted Mr Hampton should be discharged, but sought the imposition of conditions.
Meem SL Limited was an unsuccessful start-up company in the United Kingdom. The board resolved to put the company into administration and sell the business to a company owned by the directors.
The High Court in England was asked to consider sanctioning a scheme of arrangement between Lehman Brothers International (Europe) (in administration) (LBIE) and certain of its creditors pursuant to Part 26 Companies Act 2006 (the equivalent of Part 15 Companies Act 1993). This case was one of a number of proceedings involving the Lehman Brothers administration, many of which cases have reached the Supreme Court (see our earlier reports on
Re The Joint Liquidators of Supreme Tycoon Limited (in liquidation in the British Virgin Islands) (08/02/2018, HCMP833/2017), [2018] HKCFI 277
The Hong Kong Court of First Instance considered whether an insolvent liquidation, commenced by the shareholder of a company registered in the British Virgin Islands, was eligible for common law recognition in Hong Kong.
Creditors' compromise Part 1: the New Zealand Supreme Court view
With two decisions (No. 1895/2018 and No. 1896/2018), both filed on 25 January 2018, the Court of Cassation reached opposite conclusions in the two different situations
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The Constitutional Court (6 December 2017) confirmed that Art. 147, para. 5, of the Italian Bankruptcy Law does not violate the Constitution as long as it is interpreted in a broad sense
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With the decision No. 1195 of 18 January 2018, the Court of Cassation ruled on the powers of the extraordinary commissioner to require performance of pending contracts and on the treatment of the relevant claims of the suppliers
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The Court of Cassation with a decision of 25 September 2017, No. 22274 confirms that Art. 74 of the Italian Bankruptcy Law provides a special rule, which does not apply to cases to which it is not explicitly extended
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