Purkiss v Kennedy & Ors [2024] EWHC 1081 (Ch) is another judgment in a string of cases arising out of schemes designed to enable self-employed individuals to avoid paying income tax and national insurance on their remuneration. The decision of the Supreme Court in RFC 2012 Plc v AG for Scotland demonstrated the flaws that often mean such schemes fail.

Bygge- og anlægsbranchen har i de seneste år oplevet en kraftig stigning i antallet af konkurser og toppede foreløbigt i 2023 med hele 1.282 erklærede konkurser. Da konkurserne ofte er forbundet med store tab, hvis de indtræder under et igangværende byggeri, har tendensen i stigende grad aktualiseret en belysning af de muligheder, der er for at sikre sig imod sådanne tab.

The judgment of Chief ICC Judge Briggs in Becker (A Bankrupt) v Ford & Ors [2024] EWHC 1001 (Ch) provides a useful summary of the matters to which the court should have regard when considering an application to lift the suspension of a bankrupt’s discharge.

ICC Judge Mullen’s judgment in Sriram v Revenue & Customs & Anor [2024] EWHC 853 (Ch) follows an application by the bankrupt, Ms Sriram, to annul a bankruptcy order made against her on a petition of HMRC in circumstances in which proper service of both the statutory demand and the petition was contested and in which her capacity to understand the proceedings against her was also in issue.

Bygge- og anlægsbranchen har i de seneste år oplevet en kraftig stigning i antallet af konkurser og toppede foreløbigt i 2023 med hele 1.282 erklærede konkurser. Da konkurserne ofte er forbundet med store tab, hvis de indtræder under et igangværende byggeri, har tendensen i stigende grad aktualiseret en belysning af de muligheder, der er for at sikre sig imod sådanne tab.

Bygge- og anlægsbranchen har i de seneste år oplevet en kraftig stigning i antallet af konkurser og toppede foreløbigt i 2023 med hele 1.282 erklærede konkurser. Da konkurserne ofte er forbundet med store tab, hvis de indtræder under et igangværende byggeri, har tendensen i stigende grad aktualiseret en belysning af de muligheder, der er for at sikre sig imod sådanne tab.

Reid-Roberts & Anor v Mei-Lin & Anor (Re Audun Mar Gudmundsson (a Bankrupt) [2024] EWHC 759 (Ch) was an unusual case resulting in an unusual application of the exceptional circumstances rule in the context of an application by the joint trustees in bankruptcy of Audun Mar Gudmundson for declarations as to the beneficial ownership of his and his ex-wife’s former matrimonial home and orders under s 335A Insolvency Act 1986 for possession and sale.

Evolution of the super scheme

FRST GROUP RESTRUCTURING PLAN SANCTIONED

EVOLUTION OF THE SUPER SCHEME

In brief

Following the second longest sanction hearing in restructuring plan history, and the only sanction hearing yet to morph into a second convening hearing, the Part 26A restructuring plan proposed by Project Lietzenburger Strae Holdco S..r.L (plan company) has been sanctioned.1 The plan is part of a highly contested, complex, cross-border restructuring of more than EUR1 billion of debt documented under German law.

It involved

Bankruptcy Code Section 502(b)(6) establishes a Statutory Cap on the damages a landlord can claim arising from the termination of a lease in bankruptcy case. Courts have split on how to calculate the Statutory Cap, whether and how to apply letters of credit to reduce the Statutory Cap, and whether the Statutory Cap applies to a landlord’s claims against a lessee’s debtor-guarantor.

On March 26, 2024, the US District Court for the Southern District of New York issued an opinion addressing the foregoing issues:

ICC Judge Greenwood’s judgment in Kendall & Anor v Ball & Anor (Re Sherwood Oak Homes Ltd – Sherwood Oak Holdings Ltd) [2024] EWHC 746 (Ch) arises out of an application by the administrators of Sherwood Oak Homes Ltd and Sherwood Oak Holdings Ltd under para 63 Sch B1 Insolvency Act 1986 and/or s 234 Insolvency Act for a declaration that land forming part of a development site in Mansfield Woodhouse was held on resulting and/or constructive trust for the benefit of Homes or Holdings and an order for its transfer.