The Court of Appeal has resolved previously conflicting case law to confirm that a bankrupt cannot be obliged to crystallise his pension benefits in order to produce income to pay off creditors.

The recent Court of Appeal decision in Rawlinson and Hunter Trustees SA & others v Akers & another [2014] serves to emphasise that third party reports commissioned by liquidators to enable them to consider whether litigation should be commenced in order to make recoveries for the benefit of creditors will not always attract litigation privilege.

Earlier this month, we reported to you on the bipartisan legislation introduced in the Michigan Legislature known as the Nonrecourse Mortgage Loan Act (the “Act”).  

The Act has been approved overwhelmingly by both chambers of the Michigan Legislature and will be presented to the Governor’s office for signature. It is expected that the legislation will be signed into law within the next several business days.