In the recent High Court judgment in VTB Bank (Public Joint Stock Company) v Anan Group (Singapore) Pte Ltd,(1) the plaintiff successfully obtained a winding-up order on a debtor company six weeks after the service of a statutory demand for an underlying debt of $250 million.
In the recent decision of Re M.D.Y. Construction Ltd [2018] IEHC 676 the Examiner sought to have proposals for a scheme of arrangement confirmed by the High Court pursuant to section 541 of the Companies Act 2014 (the "Act"). The most interesting feature of the case was that the scheme of arrangement was proposed for approval by the Interim Examiner before his appointment was confirmed by the High Court.
Arrangement to be approved the day after application to confirm appointment
The recent decision of the Court of Appeal in The Governor and Company of the Bank of Ireland v O'Grady & Anor 2018 IECA 180 has confirmed that where anapplication for summary judgment is made, a defendant must establish that he has "an arguable defence" to the claim if proceedings are to be remitted to plenary hearing.
Background Facts
Provider Beware! Bankruptcy Payment Order May Be Required to Pay a Bankrupt's Pension to Official Assignee
Welcome to day 3 of our '12 Days of Christmas' series. Today we look back on the effect of bankruptcy on a personal pension policy.
Introduction
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".
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
In the recent decision in LBI EHF v. Raiffeisen Bank International AG [2018] EWCA Civ 719, the Court of Appeal has considered the close-out valuation provisions for "repo" trades entered into under a Global Master Repurchase Agreement (2000 edition). The court refused to limit the wide discretion given to a non-defaulting party to determine fair market value under the GMRA.
The factual background
Introduction
Under reforms commencing in July 2018, Australia will have new insolvency laws which will limit the exercise of contract rights to terminate for insolvency. Partners David McIntosh and Robyn Chatwood, explain how these reforms will impact the retail sector in Australia, including suppliers of goods and services and lenders.
Background
In good news for liquidators, the Federal Court’s decision in Marsden (liquidator) v CVS Lane PV Pty Limited Re: Pentridge Village (in which Dentons acted for the liquidator) confirms that time will be extended for liquidators who are unable to bring voidable transaction proceedings within the relevant timeframe due to a lack of funding.
The case also has wider implications. It could be relied upon by liquidators to justify subsequent claims which could otherwise have been brought at an earlier stage if funding had been available.