Overview
Insolvency practitioners will be familiar with section 283A of the Insolvency Act 1986 (the "Act") and what is commonly termed the 'use it or lose it' provisions. But what exactly is meant by a trustee in bankruptcy being informed or becoming aware of a bankrupt's interest in a property for the purposes of section 283A(5) of the Act?
At first instance, a bankrupt's claim that she had informed her trustee or that her trustee had become aware of such an interest was dismissed. The bankrupt appealed.
"The law on 'knowing receipt' has perplexed judges and academics alike for several decades" – Lord Burrows (paragraph 99).
Judgment creditors should be aware that the English Court of Appeal has given guidance on the proper construction of s423 Insolvency Act 1986 (transactions defrauding creditors)1.
Summary
Trustees and officeholders (such as administrators, receivers and liquidators) can ask the Court to approve steps that they propose to take in the administration of their estate (such as the sale of an asset or settlement of a claim).
Summary
There are today at least 2,352 different types of cryptocurrencies being traded on various exchanges1. As legislators, regulators, financial institutions, and other businesses have been seeking to understand the opportunities and risk presented by cryptocurrencies, smart contracts, and other fast-moving Fintech developments since the launch of Bitcoin around 10 years ago, on 18 November 2019 the UK Jurisdiction Taskforce of the Lawtech Delivery Panel published a Legal Statement2 in relation to cryptoassets and smart contracts, following a period of public con