The UK Supreme Court handed down its decision in BTI v Sequana on 5 October 2022, unanimously dismissing the appeal from the 2019 Court of Appeal decision and confirming how directors duties ought to be applied when a company is in the zone of insolvency. Although decisions of the UK Supreme Court are not binding upon the jurisdictions in which Ogier practises law, it will nevertheless be highly persuasive and influence the approach taken in the offshore jurisdictions that Ogier advises upon.

Este mes apenas se han publicado resoluciones que consideremos reseñables, sólo tres de tres audiencias provinciales nos han parecido dignas de atención. A cambios las tres hacen pronunciamentos muy interesantes.

Audiencias Provinciales

Compensación de pagos entre un hotel y su operador por derivarse de una misma relación contractual.

The Supreme Court's judgment in BTI v Sequana is long-awaited, and welcome. The court has confirmed that directors do have a common law creditors' duty, and that it works on a sliding scale basis.

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Decision
Comment

The approach of the Cayman Grand Court to the terms and timing of the discharge of provisional liquidators taken inIn the Matter of Star International Drilling Ltd may provide a window into what is expected to be a similarly flexible approach to the appointment of restructuring officers.(1)

Introduction
Facts
Background
Decision
Comment

Introduction

Introduction
Subject matter or participant?
Facts in Madera
Characterisation of petition
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Introduction

Tribunal Supremo

Jurisprudencia de la Sala de lo Contencioso del Tribunal Supremo: El adquirente de la unidad productiva se subroga en las deudas de la Seguridad Social anteriores al concurso respecto de la totalidad de los trabajadores de la concursada.

Sentencia 577/2022 del Tribunal Supremo, Sala de lo Contencioso, de 17 de mayo de 2022. Ponente: José Manuel Bandrés Sánchez-Cruzat.

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Restructuring petitions
Schemes of arrangement
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Introduction

Introduction

Reports last week of the significant increase in corporate insolvencies and voluntary liquidations in England and Wales for Q2 demonstrate the combined impact of government COVID-19 support being withdrawn, soaring energy and fuel costs, and weakening demand – and are being reflected in the nature of the instructions coming into our global jurisdictions from distressed companies across the globe.