In the matter of Mouldpro International Limited (In Liquidation) and in the matter of The Companies Acts 1963 – 2005 the Court of Appeal reduced the fees of the liquidator in respect of three of the four periods of the six-year liquidation of Mouldpro International Limited ("Mouldpro"), finding that the hours claimed for were "neither reasonable nor necessary".
Two years ago, after a slew of bankruptcies in the energy sector triggered by a dramatic drop in commodity prices during the worst downturn for U.S. energy producers since the 1980’s, the Office of the Comptroller of the Currency (OCC) issued new guidance that proposed changes to underwriting analysis and loan risk rating determinations by national banks and federal savings associations of loans secured by oil and gas reserves (RBLs).
1 Driven by a concern that banks were not appropriately capturing risks associated with increased
What happens if you assign your right to litigate to a person or company that is unconnected to the event that creates the right to litigate? In the recent Supreme Court case of SPV Osus Ltd –v- HSBC Institutional Trust Services (Ireland) Limited & Ors [2018] IESC 44, the Supreme Court held that this sort of transaction is void under Irish law and contrary to public policy.
Madoff ponzi scheme litigation
The United States Court of Appeals for the Second Circuit affirmed U.S. District Judge Jed S. Rakoff’s decision that the gas gathering contracts that Sabine Oil & Gas Corporation entered into with two midstream service companies were personal obligations, and not “covenants running with the land” under Texas law, which, therefore, could be rejected under Section 365 of the Bankruptcy Code.
Executive Summary
Companies in the health care industry face many unique challenges when undergoing a bankruptcy, including challenges arising due to the federal and state law framework governing the use and disclosure of medical information. In February 2018, the U.S. Department of Health and Human Services announced that it had reached a settlement with the receiver appointed to liquidate the assets of Filefax Inc., a medical record storage and transportation company, resolving claims against Filefax for potential violations of the Health Insurance Portability and Accountability Act, or HIPAA.
Companies in the healthcare industry face many unique challenges when undergoing a bankruptcy, including challenges arising due to the federal and state law framework governing the use and disclosure of medical information. In February 2018, the U.S. Department of Health and Human Services (HHS) announced that it had reached a settlement with the receiver appointed to liquidate the assets of Filefax, Inc., a medical record storage and transportation company, resolving claims against Filefax for potential violations of the Health Insurance Portability and Accountability Act (HIPAA).
The Changwon District Court in South Korea has this afternoon (23 March 2018) issued a comprehensive prohibition order (CPO) following the application of Sungdong Shipbuilding and Marine Engineering Co. Ltd (Sungdong) to enter Chapter 11 Rehabilitation filed earlier this month.
The effect of the CPO is to provisionally prohibit all creditors of the yard from taking legal action in South Korea to secure and enforce their claims by attachment, arrest or foreclosing of their security interests.
Costello J in the High Court recently gave judgment in the case of In re James Coady (a Former Bankrupt) [2017] IEHC 653. In this case the Official Assignee ("OA") had sought directions in respect of what rights could vest in the OA from the bankrupt's pre-retirement personal pension policy (the "PP"). The bankrupt had reached normal retirement age under the PP after he was adjudicated bankrupt but before he was discharged from bankruptcy.
Costello J in the High Court recently gave judgment in the case of In re James Coady (a Former Bankrupt) [2017] IEHC 653. In this case the Official Assignee ("OA") had sought directions in respect of what rights could vest in the OA from the bankrupt's pre-retirement personal pension policy (the "PP"). The bankrupt had reached normal retirement age under the PP after he was adjudicated bankrupt but before he was discharged from bankruptcy.