The High Court has allowed an application for an order to enable access to a bankrupt’s pension to satisfy debts arising from fraud. Prior to the bankruptcy, judgment was obtained against him for £3.2m plus costs.
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Hogan Lovells, Fraud, HM Revenue and Customs (UK)
The good news is that public works construction projects for municipalities are projected to remain a major sector of construction activity for the foreseeable future. The not-so-good news is that municipal bankruptcy filings are on the rise, and they are likely to increase. The issues facing parties under contract with a municipality when it files for bankruptcy protection are playing out nationally in places like Stockton, California, and Detroit, Michigan.
USA, Insolvency & Restructuring, Projects & Procurement, Duane Morris LLP, Bankruptcy, Title 11 of the US Code