In Fielding v The Burnden Group Limited (BGL) the English High Court dismissed an application for the liquidator to be held personally liable for the costs of a successful appeal against the rejection of a proof of debt.

In the UK case of CFL Finance Limited v Rubin and Ors, a creditor had sought to make an individual bankrupt. A creditors' meeting was held.  At the meeting, a proposal for an Individual Voluntary Arrangement was approved by the creditor that held the largest portion of debt (and therefore 90.43% of the vote).  The other two creditors voted against the proposal.

In this English case, a secured lender (Nationwide) appointed administrators to three companies. However, before appointing, Nationwide had:

In Day v The Official Assignee as Liquidator of GN Networks Ltd (in Liq) [2016] NZHC 2400, the High Court rejected a claim that the funding arrangement at issue constituted maintenance or champerty.

Case Comment - Re White Birch Paper Holding Co.

The purchase of an insolvent company’s assets by way of a credit bid has recently garnered attention, primarily because of the use of a credit bid in the Canwest Publishing Group restructuring. This past September the issue was again addressed under the Companies’ Creditors Arrangement Act (“CCAA”), this time by the Quebec Superior Court in the restructuring of White Birch Paper Holding Co. (“WBP”). The Court reaffirmed the acceptance of credit bids by Canadian courts.

Typically under the Companies’ Creditors Arrangement Act (“CCAA”) when a debtor brings an application to extend the stay period, the court will grant the extension, so long as the applicant debtor is acting in good faith and with due diligence. In the vast majority of such extension applications the debtor has the support of the court appointed Monitor. The recent Ontario Superior Court of Justice case Re Dura Automotive Systems (Canada) Ltd.