The High Court has scrutinised the validity of a Declaration of Trust and the enforcement of charging orders. Wade v Singh sheds light on the intricate balance between property rights, trust law, and creditor protection in an insolvency. The case, centered around a property known as "the Oaks," involved the liquidators of MSD Cash & Carry Plc (in liquidation) seeking to enforce charging orders against properties owned by various family members involved in the business to satisfy a significant judgment debt.
Background of the Case
And so, we continue the tale with the TIBs now triumphantly holding both the hard-won exequatur which expressly recognised the bankruptcy order and Trustee in Bankruptcy (TIB) and confirmed that all rights and powers were enforceable in France and judgment of the French criminal court which restored the seized criminal assets to the TIBs under the vesting provisions of the Insolvency Act 1986. However, there were still clear and untested differences to obtaining automatic recognition under the EU Regulation on Insolvency proceedings (as Recast) (RIR).
On July 14, the U.S. Court of Appeals for the Ninth Circuit partially affirmed and partially reversed a district court’s dismissal of an FDCPA suit. The district court reviewed plaintiff’s claims under the FDCPA, which alleged that defendants violated the bankruptcy court’s order discharging his debt and knowingly filed a baseless debt collection lawsuit.
The U.S. Supreme Court ruled on Thursday that because Indian tribes are indisputably governments, the Bankruptcy Code unmistakably abrogates their sovereign immunity to bankruptcy court proceedings.
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On January 23, the NY DFS released updated guidance with regard to better protecting consumers in the event of virtual currency insolvency. This updated guidance applies to entities that DFS has licensed or chartered to hold or maintain virtual currency assets on behalf of their customers.
Earlier this year, the United States Bankruptcy Court for the Northern District of California granted in part and denied in part cross-motions for summary judgment in an action concerning “piecemeal exemptions” to California’s usury law.
On August 8, the California Department of Financial Protection and Innovation (DFPI) issued a desist and refrain order to a now-bankrupt cryptocurrency lender and its CEO after determining that the company allegedly made material misrepresentations and omissions in the offering of crypto interes
Recreational cannabis is now legal in 19 states and Washington D.C., driving the growth of legal cannabis sales estimated at $33 billion this year—up 32% from 2021—and expected to reach $52 billion by 2026.[1] This movement signals that financial investment in cannabis is not abating but accelerating notwithstanding the impact of the lingering COVID-19 pandemic.