Key points

• Court reiterated circumstances in which it will sanction a proposed course of action by administrators

• Requirement that the course of action be “particularly momentous”

• Court sanctioned proposed settlement in the circumstances

The Facts

Key Points

Key Points

• Floating charge is valid even where there are no unencumbered assets at the time it is taken
• Crystallisation of prior ranking floating charge does not impact enforceability of second ranking floating charge

The Facts

Key points

La operación sobre los activos de una empresa que se prepara con anterioridad a la declaración de quiebra para ser ejecutada inmediatamente después de que se declare la quiebra (pre-pack) puede plantear problemas laborales.

Key Points 

• Directors cannot file a notice of intention to appoint (NoI) without a ‘settled intention’ to appoint an administrator

• NoIs cannot be used where there is no qualifying floating charge holder (QFCH)

• The judgment has implications for validity of appointments where requirements not met

The Facts

Key Points 

• Claims against Kaupthing could not be pursued in the English courts

• No implied restriction on jurisdictional effect under the Winding-up Directive

• Position analogous to Judgments Regulation and Insolvency Regulation

The Facts

Key Points

Siguen sin resolverse satisfactoriamente las cuestiones laborales y de la Seguridad Social en relación con la transmisión de unidad productiva en concurso.

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