On Sunday 26 August the UK Government confirmed its intention, when Parliamentary time permits, to introduce radical proposals to reform insolvency law. The moves, announced in “Insolvency and Corporate Governance – Government Response”, proposes the introduction of a new moratorium to give viable, but financially distressed companies breathing space to address their problems.
In a judgment handed down on 17 March 2017 (but which has only recently become publicly available) in Catalyst Managerial Services v Libya Africa Investment Portfolio,1 Mr Justice Teare held that an After The Event (ATE) insurance policy put before the court in purported satisfaction of a security for costs order, was not in a reasonably satisfactory form.