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
2022年8月31日、ケイマン諸島のリストラクチャリング・オフィサー制度が施行されました[1]。この制度は、ケイマン諸島における支払不能状態会社の再建に関して、更に柔軟な再建方法を導入するものです。これは、リストラクチャリング請願の提出日から自動支払猶予期間が開始するというという特色もあります。
リストラクチャリング・オフィサー制度導入前において[2]、法定支払猶予の効果を有する再建方法は、ケイマン諸島における裁判所監督形式である再建手続において「ライトタッチ」（訳注：一時的な関与のみの想定）ベースの暫定清算人が選任される場合に限定されていました[3]。リストラクチャリング・オフィサー制度は、その手続面を見直し、さらにその利用に際して障害となるものを取り除いています。これには、(a)暫定清算人選任前に会社清算請願を提出しなければならない点（これは社会的信用を毀損する結果もたらします。）[4]、および、(b)暫定清算人が選任されるまでの間は支払猶予が認められない点[5]が含まれます。
2022年8月31日より前、ケイマン裁判所は、会社法（Companies Act）第104条(3)に基づく会社清算請願が提出された場合、以下の両要件を満たすときに、ライトタッチの暫定清算人を選任することができました。
The financial thresholds of the Small Companies Administrative Rescue Procedure (SCARP) have been increased, meaning that SCARP is now a potential option for a larger number of companies in Ireland.
SCARP, which was introduced in 2021, aims to provide a cost-effective restructuring option for viable but insolvent companies. It is available to small and micro companies as defined in the Companies Act and is not an option for larger companies, which must use other restructuring mechanisms.
On 11 June 2024, the judgment of Re BHS Group Limited (In Liquidation) (BHS) was handed down by Leech J in the English High Court, bringing in key developments and clarifications on directors duties in the zone of insolvency.
This is especially relevant in offshore jurisdictions such as Guernsey where English insolvency legislation is often replicated in local legislation. English common law remains highly persuasive in relation to directors duties and claims by liquidators against former directors are relatively common.
Summary of claims