The Director of the Justice Department’s U.S. Trustee Program (USTP), which oversees the administration of bankruptcy cases, is about to change for the first time in nearly 20 years. Clifford White will be stepping down from the role and consumer advocate Tara Twomey will be taking up the mantle.

A majority of the Supreme Court recently held that an insolvent company does not suffer any recoverable loss if payments are made from its bank accounts that discharge a debt owed by that company.  This decision adds to the growing case law on the Quincecare duty.

The claim against HSBC

Welcome to the eighth edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.

The long awaited Sequana Supreme Court judgment[1] has provided some welcome clarity around the duties of the directors of a company in the "twilight zone" – i.e. where the company is facing financial difficulties.

The Insolvency Service has recently published its interim report (the "Report") which considers the three permanent measures that were introduced pursuant to the Corporate Insolvency and Governance Act 2020 ("CIGA"). For further details on the temporary and permanent measures introduced pursuant to CIGA, see our previous update.

As discussed in prior posts and articles (here, here and

As outlined in our previous briefing note on the Corporate Insolvency and Governance Act 2020, a new restructuring tool was introduced in June 2020 in the form of the Part A1 free-standing moratorium (the "Moratorium").

Welcome to the sixth edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.

The automatic stay is a procedural tool in a bankruptcy case that effectively halts efforts by creditors to collect on a debtor’s outstanding obligations. As discussed in more detail in our prior post, immediately upon the filing of a bankruptcy petition, a “bankruptcy estate” is created, which includes virtually all assets of the debtor.

Federal Rule of Bankruptcy Rule 3002.1 went into effect December 1, 2011. It was implemented to address a perceived problem in “cure and maintain” Chapter 13 cases (cases in which the debtor cures any pre-petition arrearage and maintains monthly post-petition payments on long-term loans) – that mortgage creditors were not providing the debtor with notice of post-petition payment changes and fees assessed post-petition, causing debtors to often exit a successful Chapter 13 with a delinquent loan.