The Supreme Court has held that a floating charge, crystallised by notice, prior to the commencement of a winding up, ranks ahead of preferential creditors. However, the Court expressed the view that the relevant legislation needs to be amended to reverse the “undoubtedly unsatisfactory outcome”.

Background

The High Court has confirmed that it does not have a role in examining the reasonableness of a creditor’s vote on a personal insolvency arrangement when considering if a bankruptcy petition should be adjourned.

In a number of recent cases, debtors:

On 13 May 2015, the Government announced that it intends to give the courts the power to overrule the rejection by secured creditors of arrangements under the Personal Insolvency Act 2012 (the “Act”).

There is scant detail in the announcement save that it is intended to “support mortgage holders who are in arrears” and that legislation is to be brought forward before the Summer recess. How is such legislation likely to work and what potential frailties could it have?

The Issue

Jackie Ford, partner in the Vorys Houston and Columbus offices, authored an article for Law360 onwhether traditional definitions of property and ownership include social media accounts. The full text of the article is included below.

WHO OWNS LIKES, POSTS, PAGES AND TWEETS IN BANKRUPTCY?

The Court of Appeal commenced its operations on 5 November 2014.

The reason for the establishment of the Court of Appeal was the huge backlog which had built up in the Supreme Court, where it could take up to four and a half years for a case to be heard.

Mr. Justice Sean Ryan is President of the Court which is comprised of nine judges in addition to the President. Six of these nine positions were filled by previous High Court Judges such as Mr. Justice Kelly, Ms. Justice Finlay Geoghegan and Mr. Justice Peart.

An Analysis of Ohio’s Amended Receivership Law Vorys, Sater, Seymour and Pease LLP January 2015 © Copyright 2015, Vorys, Sater, Seymour and Pease LLP. All Rights Reserved. vorys.com Table of Contents Introduction..................................................................................1 Affected Statutes..........................................................................2 Grounds for Appointment............................................................2 Scope of Receiver’s Authority – “Property Receivers” vs.

Insolvency practitioners often encounter difficulties when trying to sell properties in residential developments because an original management company has been struck off the Register of Companies. The standard approach can be laborious and costly. A more cost efficient alternative is often available.

In a number of recent cases, borrowers have produced a detailed forensic analysis of the accrual of interest on their accounts by lenders alleging that any error in the calculation of interest invalidates the demand made by the lender and any appointment of a receiver on foot thereof.

The State Airports (Shannon Group) Act 2014 (the “Aviation Act”) came into force on 27 July 2014. The Aviation Act enhances Ireland’s position as a global centre for aviation finance and leasing by, among other things, introducing important reforms in the Shannon Region which will build upon the existing aviation industry of over 40 companies operating in the area.

On 13 August 2014, the Irish High Court gave a judgment which addresses significant issues in examinerships and provides some clarity regarding loan acquisitions and the timing and other considerations for creditors when issuing letters of demand.

Background