In Berryman v Zurich Australia Ltd [2016] WASC 196 it was decided that a bankrupt's entitlement to claim a TPD benefit under a life insurance policy is not an entitlement that is divisible amongst the bankrupt's creditors, and therefore such an entitlement does not vest in the Official Trustee in bankruptcy. Tottle J of the Supreme Court of Western Australia ruled that the bankrupt insured could continue an action in his own name to recover the TPD benefit. Life insurers may need to adjust their claims' payment practices in light of the Berryman decision.
I am the director of a corporate hospitality agency that has become insolvent. I still have a lot of goodwill with my clients and am keen not to lose the book of contacts I have built up in this industry. Can you tell me whether there is anything to stop me from forming a new company from the remains of my failed business and opening up again under a different name?
David Rubin and Henry Lan; administrators of Capitol Films v Cobalt Pictures and 24 others [2010] EWHC 3223 (Ch).