The case of Hull v Campbell serves as a reminder of an outmoded debt recovery procedure that needs to be modernised.

In Ferme CGR Enr, senc (Syndic de) 2010 QCCA 719, the Québec Court of Appeal decided that it is not necessary to put the partners of a Québec general partnership into bankruptcy when the partnership itself is put into bankruptcy. In doing so, the court initially relied upon authorities interpreting the relevant provisions of the Bankruptcy and Insolvency Act. In addition, the court supported its decision with an analysis of the legal nature of Québec general partnerships and, as a result, modified the ownership structure of partnerships in Québec.

Introduction

Against the backdrop of the recent sheriff court decisions regarding the need to appoint a Court Reporter even in cases where the assets are insufficient to meet the IPs' fees, the Court of Session has taken an innovative approach to approving IP fees without the need to appoint a court reporter.

Background

Philip Bell v Philip Long, Andrew Thomson, PKF and Weatherall Green & Smith (North) Limited [2008] EWHC 1273 (Ch)

Background

The receiver's duty to exercise care in disposing of the company's assets and to ensure he obtains the best price reasonably obtainable at the time of sale was considered recently in the English case of Bell v Long & Others.

The recent downturn in the economy is undoubtedly having an adverse effect on the cash flows of a large number of businesses in the UK. Businesses are keeping a much closer eye on outgoings and expenses, and may be looking to ease financial pressure by making payments due to creditors as late as possible.

For a business operating from leased premises, quarterly rental payments are likely to be one of the biggest outgoings. The longer the rental payment remains in the tenant's bank account, the more interest they will accrue and the more likely that cash flow issues will be eased.

On December 23, 2007, the Pan-Canadian Investors Committee for Third-Party Structured Asset-Backed Commercial Paper (ABCP) announced that an ‘agreement in principle’ had been reached for a restructuring of $33 billion of approximately $35 billion of Canadian ABCP. The repayment of this debt had been frozen pursuant to a standstill created by the ‘Montreal Accord’ as of August 16, 2007.

It is over 10 years since the House of Lords decision in the case of Sharp v Thomson (1997 SC (HL) 44) threw a judicial cat amongst the pigeons of property and insolvency law in Scotland. The House of Lords, overturning decisions of both the Outer and Inner Houses of the Court of Session, decided that ownership of a property passed unencumbered by, in this case, a crystallised floating charge, even though the disposition of that property (which had been delivered before the floating charge crystallised) had not yet been registered in the Property Register.

In a recent decision issued by Lord Drummond Young, one of the Scottish insolvency judges in the Court of Session, useful guidance has been issued which will be of interest to practitioners having to deal with the, not uncommon, situation of a retiring practitioner and replacement with a current partner in the same firm.