"The law on 'knowing receipt' has perplexed judges and academics alike for several decades" – Lord Burrows (paragraph 99).

They say every man needs protection, they say that every man must fall.¹

Harrington v. Purdue Pharma L.P., No. 23-124

Today, the Supreme Court held 5-4 that the Bankruptcy Code does not allow a bankruptcy court to discharge claims against a non-debtor without the consent of affected claimants.

Judgment was handed down last week on the substantial directors' duties and wrongful trading claims brought against former directors of various BHS companies^[1].

Introduction

TO BE OR NOT TO BE (SOLVENT) - A COMPARATIVE ANALYSIS OF SINGAPORE, UK, US, AND AUSTRALIA ON RECOGNISING FOREIGN PROCEEDINGS UNDER THE UNCITRAL MODEL LAW PIERRE DZAKPASU, ANNE JESUDASON, FLORENCE LI The recent case of Ascentra Holdings, Inc v. SPGK Pte Ltd [2023] SGCA 32 (Ascentra) has drawn a line in the sand in the Singapore court's interpretation of the UNCITRAL Model Law on Cross-Border Insolvency (UNCITRAL Model Law), as incorporated in the Third Schedule of the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) to create the Singapore Model Law.

Summary

In the first appeal of a restructuring plan under Part 26A Companies Act 2006, the English Court of Appeal unanimously set aside the first instance decision sanctioning the plan proposed by AGPS BondCo PLC, part of the Adler real estate group¹.

Fraudulent trading is both a civil and criminal offence. The recent judgment of the High Court in Bouchier v Booth provided a helpful reminder of the principles that a Court will apply when considering whether directors have acted in a manner that constitutes fraudulent trading and the high threshold for proving fraudulent conduct.

Click here to listen to the audio.

The Court of Appeal has ruled that the previous decision of the High Court to sanction a restructuring plan ("Plan") that had been proposed by the Adler Group ("Adler") should be set aside. The decision marks the first appeal in relation to a restructuring plan under Part 26A of the Companies Act 2006 ("Companies Act") and the decision offers clarity on the approach to restructuring plans, particularly when considering issues of "fairness".