The fallout from Carillion's collapse in January continues to play out as it transpired this week that the company had delayed payments to subcontractors by up to 120 days. Carillion allegedly used tactics such as faulting invoices and finding minor problems with work undertaken in order to delay payment.

While overall insolvencies fell in number in 2017 compared with 2016, the last quarter of 2017 showed an increase compared with the previous quarters which had been stable.

In those insolvencies, the vast majority are voluntary liquidations, but there is a trend of retail businesses which are struggling turning to the Company Voluntary Arrangement restructuring option, often accompanied by a managed reduction in operations.

The Swiss government presented a draft bill in May 2017 which was approved by the Swiss Council of States in December 2017 with very few amendments. The revised law could be effective as from 1 January 2019 if the Swiss National Council approves the revision this year.

Key changes include:

Brexit plays a part in an application by the Joint Administrators of Nortel Networks UK Limited and others to extend the Administrators' terms of office as uncertainty lies over what, if any recognition will be given to the Administrators by the courts of the EU Member States after 29 March 2019.

The Grand Court of the Cayman Islands granted common law recognition and assistance to the foreign Liquidators of a Cayman Islands company post Rubin v Eurofinance and Singularis Holdings Limited v PwC.

In Re China Agrotech Holdings Limited Ltd (FSD 157 of 2017 (NSJ)), the Grand Court of the Cayman Islands ("Cayman Court") granted Liquidators appointed by the High Court of Hong Kong leave to present and consent to a scheme of arrangement on behalf of China Agrotech Limited (the "Company") based on a common law discretion.

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.

The Facts

PV Solar Solutions Ltd (the "Company") supplied and installed solar panels. When the government reduced preferential tariffs, the Company's profits were affected and it entered Administration in May 2013. The Company subsequently entered into voluntary Liquidation in November 2014.

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.

Capital Funding One Limited (the "Company") arranged short term bridging finance for borrowers who were unable to obtain loans from more conventional sources. The funding for these loans were obtained from King Street Bridging Limited ("King Street").

In Endersby and Coote v Astrosoccer 4 U Ltd the High Court made a retrospective Administration order over a company that was subject to a winding-up petition to "cure" an invalid directors' out-of-court appointment of Administrators.