The High Court has found two former directors of the BHS group of companies liable for wrongful trading and misfeasance under the Insolvency Act 1986 (the Act). Relief against the directors has been ordered in the amount of £18m, with further rulings still to come.
United Kingdom, Insolvency & Restructuring, Litigation, Macfarlanes LLP, Corporate governance, Companies Act 2006 (UK), UK Supreme Court
On December 5, 2013, Judge Steven Rhodes of the US Bankruptcy Court for the Eastern District of Michigan held that the city of Detroit had satisfied the five expressly delineated eligibility requirements for filing under Chapter 9 of the US Bankruptcy Code1 and so could proceed with its bankruptcy case.
USA, Michigan, Insolvency & Restructuring, Litigation, Mayer Brown, Bankruptcy, Sixth Circuit, US District Court for Eastern District of Michigan