A recent decision of the Judicial Committee of the Privy Council reaffirms its position that only in rare cases will it be appropriate to interfere with concurrent findings of fact of two lower tribunals.¹ The Privy Council found Byers and others v Chen Ningning to be one such case on the basis that an error in findings of fact as to the Respondent’s status as a director had been made by the first instance trial judge and upheld by the Court of Appeal.

Introduction

A recent decision of the Eastern Caribbean Court of Appeal has confirmed that, whilst the courts of the British Virgin Islands (BVI) will recognise the appointment of foreign representatives (including liquidators and trustees in bankruptcy) as having status in the BVI in accordance with his or her appointment by a foreign court, they may only provide assistance to representatives from certain designated countries.

What a creditor needs to know about liquidating GUIDE an insolvent Cayman company

Last reviewed: December 2020

Contents

Introduct ion When is a company insolvent? What is a statutory demand?

Summary: Robin Ganguly explains predictive coding and technology assisted review for trial use, and how the technology might be used for insolvency investigations.

On the morning that Mothercare announced its CVA, its share price went up by 35% (from 20p to 27p) and now sits at 35p (up 75%) from the price the day before the CVA was launched.

Summary: Following a number of corporate governance failures, the Government has published a consultation paper aimed at cracking down on directors and employers behaving irresponsibly. “These reforms will give the regulatory authorities much stronger powers to come down hard on abuse and to make irresponsible directors bear the consequences of their actions.” Greg Clark. Responses are required by 11 June 2018.

Sale of Businesses in Distress

Summary: In Wright (and another) (as joint liquidators of SHB Realisations Ltd (formerly BHS Ltd) (in liquidation)) v Prudential Assurance Company Ltd, the court held that, when the BHS CVA terminated, the landlord was entitled to claim the full rent due under its lease. With more recent CVAs seeking to push the envelope even further, is the continued compromise of landlord creditors post-CVA the next issue to be tested in the courts?

Summary: Welcome to the fourth edition of our monthly Myanmar update in 2018. We have distilled the top news items into this summary 'speed read'.

Public Consultations on the Myanmar Insolvency Bill

The recent judgment in Phones 4U Ltd (in administration) v EE Ltd [2018] EWHC 49 (Comm) has highlighted the need for care when communicating the reasons for terminating a contract. In this case EE, as a result of failing to identify a repudiatory breach as the grounds for terminating its trading agreement with Phone 4U, was precluded from later pursuing a common law claim for damages.

Background

Summary: This Expert Insight looks at the case of Ziggurat (Claremont Place) v HCC International Insurance Company PLC [2017] and considers the implications of the case for the surety industry generally, particularly in the context of construction insolvency.