At-a-glance cases provided by Gatehouse Chambers’ Insolvency Team, featuring:
Crypto firm bankruptcies and resulting disruption in the crypto ecosystem will continue to exacerbate liquidity and regulatory concerns in this space. Signs of contagion are evident as prices of almost every cryptocurrency type have halved in recent months. Since all participants supporting the crypto ecosystem are at risk, managing that risk is critical.
Fund managers should be prepared on multiple fronts, as the following examples illustrate:
Everything, everywhere, all at once is our risk thesis for 2023, but one must not forget about concentration risk. This issue has rocketed up diligence agendas for LPs and GPs alike as the collapse of Silicon Valley Bank proved it really was the bank for venture capital.The entry of SVB into receivership on March 10, 2023 highlighted just how central it had become to U.S.
This appeal concerned (inter alia) whether an application for an order for sale made under s.335A of the Insolvency Act 1986 (‘IA 1986’) should be made by an application notice issued under the Insolvency Rules 2016 (‘IR 2016) or by a Part 8 Claim Form issued under the Civil Procedure Rules (‘CPR’).
Factual Background
This week’s TGIF considers a recent case where the Supreme Court of Queensland rejected a director’s application to access an executory contract of sale entered into by receivers and managers on the basis it was not a ‘financial record’
Key Takeaways
This week’s TGIF looks at the decision of the Federal Court of Australia in Donoghue v Russells (A Firm)[2021] FCA 798 in which Mr Donoghue appealed a decision to make a sequestration order which was premised on him ‘carrying on business in Australia' for the purpose of section 43(1)(b)(iii) of the Bankruptcy Act 1966 (Cth) (Act).
Key Takeaways
This week’s TGIF considers an application to the Federal Court for the private hearing of a public examination where separate criminal proceedings were also on foot.
Key takeaways
This week’s TGIF looks at a recent decision of the Victorian Supreme Court, where a winding up application was adjourned to allow the debtor company to pursue restructuring under the recently introduced small business restructuring reforms.
Key takeaways
These case summaries first appeared in LexisNexis’ Insolvency Case Alerter. They represent some of the more interesting insolvency decisions to have been published recently.
This summary covers:
In our work with international companies supplying goods to the UK, we see a number of common issues arising regularly. In our previous articles, we explained what happens if a UK customer hits financial difficulties and the powers of insolvency practitioners. In this last of five articles based on the five elements of the Wu Xing, we take the theme of Earth and explain the options to get paid by an insolvent customer, completing the business as usual cycle of supply and payment and thereby restoring balance to your business.