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No improper motive for administrators' appointment

In this English case, a secured lender (Nationwide) appointed administrators to three companies. However, before appointing, Nationwide had:

United Kingdom, Banking, Insolvency & Restructuring, Litigation, Buddle Findlay, Shareholder
Litigation funding arrangement not an abuse of process

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.

New Zealand, Insolvency & Restructuring, Litigation, Buddle Findlay
MF Global enters insolvency proceedings on both sides of the pond

MF Global, one of the world's leading broker/dealer firms entered into insolvency proceedings in both the US and the UK on 31 October 2011. US entities MF Global Holdings Ltd. and MF Global Finance USA Inc. filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code in the Bankruptcy Court for the Southern District of New York. Also on 31 October, the US Securities Investor Protection Corporation ("SIPC") initiated the liquidation of MF Global, Inc. a jointly registered futures commission merchant and broker-dealer, under the Securities Investor Protection Act ("SIPA").

United Kingdom, USA, Capital Markets, Insolvency & Restructuring, Reed Smith LLP, Bankruptcy, Clearing house (finance), Futures contract, Commodity broker, Margin (finance), Liquidation, Broker-dealer, Capital requirement, Subsidiary, US Securities and Exchange Commission, Securities Investor Protection Corporation, Credit rating agency, FSA, United States bankruptcy court