In a judgment issued yesterday (Francis v Gross [2024] NZCA 528), the Court of Appeal unanimously overturned the controversial High Court decision in Francis v Gross [2023] NZHC 1107 and held that purchasers of partly constructed modular buildings (pods) did not have equitable liens (at all, and especially not in priority to secured creditors) over those pods.

The judgment of Chief ICC Judge Briggs in Becker (A Bankrupt) v Ford & Ors [2024] EWHC 1001 (Ch) provides a useful summary of the matters to which the court should have regard when considering an application to lift the suspension of a bankrupt’s discharge.

ICC Judge Mullen’s judgment in Sriram v Revenue & Customs & Anor [2024] EWHC 853 (Ch) follows an application by the bankrupt, Ms Sriram, to annul a bankruptcy order made against her on a petition of HMRC in circumstances in which proper service of both the statutory demand and the petition was contested and in which her capacity to understand the proceedings against her was also in issue.

On 31 October 2023, Federal Law No. 51 of 2023 Promulgating the Financial and Bankruptcy Law (the Bankruptcy Law) was published in the United Arab Emirates (UAE) Official Gazette, repealing the prior federal law on bankruptcy (Federal Law No. 9 of 2016, the Prior Law) and significantly developing the bankruptcy regime in the UAE.

The recent judgment of HHJ Richard Williams, sitting as a High Court Judge, in Loveridge v Povey & Ors [2024] EWHC 329 (Ch) deals with what he described as a bitter dispute over the Loveridge family business. The business concerned was the operation of caravan parks in Worcestershire, Warwickshire and Shropshire, in part through five companies, and in part through three partnerships at will. The companies made use of interest-free inter-company loans repayable on demand

This morning, after much anticipation, the Supreme Court has released its judgment in Yan v Mainzeal Property Construction Limited (in liq) [2023] NZSC 113, largely upholding the Court of Appeal's decision, and awarding damages of $39.8m against the directors collectively, with specified limits for certain directors. The decision signals that a strong emphasis on 'creditor protection' is now embedded in New Zealand company law.

In recent years much ink has been spilled opining on the so called 'Quincecare' duty of care, and the limits of it (see links to our recent insolvency law updates covering the topic below). The judgment in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 was a first instance decision on Steyn J, in which he found that a bank has a duty not to execute a payment instruction given by an agent of its customer without making inquiries if the bank has reasonable grounds for believing that the agent is attempting to defraud the customer.

The United Kingdom Supreme Court has just released an important insolvency judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Sequana), which concerns when and the extent to which directors of a company must consider the interests of creditors.

The United Kingdom Supreme Court has just released an important insolvency judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Sequana), which concerns when and the extent to which directors of a company must consider the interests of creditors.

The case of BTI 2014 LLC v Sequana SA and Ors has had a long and tortuous history, culminating in a Supreme Court decision which has now been handed down over a year after a two day hearing in May last year ([2022] UKSC 25). The bare facts can be simply stated.