The Defendant (‘D’) was a director of the Claimant, (‘RHIL’) and its subsidiary, (‘BTSC’), which provided training courses. In 2010 D appointed MG as administrator of BTSC and MG arranged a pre-pack sale of the business. The purchaser paid nothing for the business but assumed responsibility for the training, thereby limiting BTSC’s liability for course fee refunds.
This article was first published in Insolvency Intelligence 2017, 30(5), 85-87.
In an earlier edition of this publication I identified what appeared to be a growing trend for the making of a draconian form of order suspending the discharge of bankruptcies. This form of order is typically associated with the case of Mawer v Bland where Mrs Justice Rose upheld on appeal the following order made by Chief Registrar Baister:
The reform of claw-back rights in German insolvency proceedings which provides for more legal certainty for creditors has become effective on 5 April 2017.
From theory to practice, planning to enforcement, the answers to 42 of the most frequently asked questions can help you prepare, cope or respond to a restructuring. This Client Alert answers some of the most frequently asked questions with respect to the treatment of pension-plan liabilities and other post-employment benefits (OPEB) obligations in US bankruptcies. Understanding the treatment of pension and OPEB obligations in bankruptcy continues to be important in today’s business environment and the law relating to the treatment of these obligations continues to evolve.
De Le Cuona v Big Apple Marketing Ltd, Chancery Division, 12 April 2017
Easement to park; illusory; true construction of a deed
The court’s sanction of DTEK's latest scheme includes novel references to its outstanding bank debt and helpfully rules on the controversial 'domicile test'.
The case confirmed that the provisions of the CPR apply to applications for an extension of time to apply for rescission of a winding up order. The case further stated that any such extensions of time should be exceptional and for a very short period.
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This case concerned the rejection by the liquidators of Saff One LLP (‘LLP’) of a proof of debt lodged by ESS. The issue was whether a tax mitigation structure involving a loan to LLP for purported investment in the Ultra Green Scheme gave rise to a provable debt if the monies ‘loaned’ passed in a circle and no such investment was made.