Overview

If you walk along the seafront in the Lancashire town of Morecambe, you will come across a statue of the late Eric Morecambe. Many of us will remember Eric as half of one of the most famous comic double acts in the United Kingdom. Morecambe and Wise made us laugh, not so much through innuendo but more through the perfect timing of their various on screen exchanges. So important was timing to Eric Morecambe that one of the quotes at the foot of his statue is the phrase "In life, everything is timing".

Overview

Overview

Insolvency practitioners will be familiar with section 283A of the Insolvency Act 1986 (the "Act") and what is commonly termed the 'use it or lose it' provisions. But what exactly is meant by a trustee in bankruptcy being informed or becoming aware of a bankrupt's interest in a property for the purposes of section 283A(5) of the Act?

At first instance, a bankrupt's claim that she had informed her trustee or that her trustee had become aware of such an interest was dismissed. The bankrupt appealed.

Overview

It has been just over 6 years since the Bill for the Prescription (Scotland) Act 2018 ("the 2018 Act") received royal assent. Sections 5 and 13 of the 2018 Act came into force, perhaps earlier than most anticipated, on 1 June 2022. Since then, depending on who you speak to, you are likely to hear differing opinions on whether enough has been done to re-balance the 'defender friendly' discoverability test developed though cases such as Morrison and Gordon's Trustees.

Overview

In a very litigious and long-running saga concerning some land near Bicester, a recent judgment involved parties applying to remove the Administrators.

In summary:

Overview

We asked our team for their predictions of what they think 2025 might bring in the Property Disputes sector.

Insolvencies and Restructuring

On July 31, 2024, the Supreme Court of Canada released its decision in Poonian v. British Columbia (Securities Commission), on whether financial sanctions imposed by securities regulators are dischargeable through bankruptcy. The decision resolves a conflict between Alberta and B.C. jurisprudence and will have a significant impact on the treatment of all administrative orders in bankruptcy proceedings.

The facts

In its recent opinion in Raymond James & Associates Inc. v. Jalbert (In re German Pellets Louisiana LLC), 23-30040, 2024 WL 339101 (5th Cir. Jan. 30, 2024), the Fifth Circuit held that a confirmed bankruptcy plan enjoined a party from asserting certain indemnification counterclaims against a plan trustee because the party did not file a proof of claim.

Background

Whether a solar system is a “fixture” sounds like a mundane legal issue – but it has significant implications for the residential solar industry and for the financing of residential solar systems. If a system is regarded as a “fixture” of the house to which it is attached, then the enforceability and priority of the finance company’s lien on the system will be subject to applicable real estate law.

Section 192 of the Canada Business Corporations Act (CBCA) provides a flexible tool that allows corporations to achieve important change and undertake various corporate transactions, subject to court approval and oversight. This article aims to provide an update on the Québec courts’ acceptance of virtual securityholder meetings and approach to the solvency requirement.

Overview of the arrangement process