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Foreign judgment enforceable at common law despite legislative change making it unenforceable in state of origin

The High Court has held that there is no common law rule preventing enforcement of a foreign judgment in England and Wales simply because it is not presently or fully enforceable in the relevant foreign jurisdiction.

United Kingdom, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Employee Retirement Income Security Act 1974 (USA)
Court of Appeal confirms that the Quincecare duty does not extend to protect creditors

The Court of Appeal has struck out Quincecare duty and dishonest assistance claims brought by the liquidators of a company running a Ponzi scheme against a correspondent bank that operated various accounts for the company.

United Kingdom, Banking, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
Landlord wins as CVA term not a penalty

Following the liquidation of BHS Ltd, the High Court was asked to consider whether a landlord could claim full rent as an administration expense following termination of the CVA.

Background

Wright and another (Liquidators of SHB Realisations Ltd) v The Prudential Assurance Company Ltd concerned three principal insolvency processes applicable to companies under the Insolvency Act 1986:

United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Shoosmiths LLP, Liquidation