After much delay, the Third Parties (Rights Against Insurers) Act 2010 (the 2010 Act) came into force on 1 August 2016. The 2010 Act aims to assist parties wishing to claim against insolvent companies and individuals who supply professional services by allowing them to claim directly against their insurers.
Victoria, Samnuggur and Titaghur
The Scottish Court of Session considers the interaction of Indian insolvency proceedings for three Scottish Companies that had also been placed into Administration in Scotland.
Background
The Victoria Jute Company Limited ("Victoria"), The Samnuggur Jute Factory Limited ("Samnuggur") and Titaghur plc ("Titaghur") were all incorporated in Scotland, but had been carrying out their business in India.
The Scottish Court of Session considers the interaction of Indian insolvency proceedings for three Scottish Companies that had also been placed into Administration in Scotland.
Background
The Victoria Jute Company Limited ("Victoria"), The Samnuggur Jute Factory Limited ("Samnuggur") and Titaghur plc ("Titaghur") were all incorporated in Scotland, but had been carrying out their business in India.
The BVI High Court granted Norwich Pharmacal relief against a registered agent for a judgment debtor who was subject to an interim freezing order.
The judgment creditor had obtained an interim freezing order against the judgment debtor, and was seeking general information as to the assets of the judgment debtor, following a pattern of concealment of assets to frustrate enforcement of a foreign judgment. The judgment debtor had failed to comply with an overseas freezing order and had been held in contempt of court for failing to disclose assets.
Dixon v Radley House Partnership (A Firm) [2016] EWHC 2511 (TCC)
The claimant (D) brought negligence proceedings against the defendant (R) a firm of architects, for refurbishment works.
In the draft claim form, D had referred to a loss of £35,894.00 allegedly caused by negligent misrepresentation on the part of R, who had been instructed on 27 October 2007.
The draft claim form and the fee were prepared up to a value of £50,000.00 and were received by the court on 25 October 2013, less than six years after the cause of action arose.
English High Court places US company into Administration
On 7 October 2016 Ashfords' Restructuring and Insolvency Team, led by partner Alan Bennett, assisted the directors in securing an Administration order in respect of Ronin Development Corporation (the "Company").
The Company was incorporated in Princeton, New Jersey, in October 1986 under the New Jersey Business Corporation Act, and is a global marketing, consulting and research company.
Introduction
On 7 October 2016 Ashfords' Restructuring and Insolvency Team, led by partner Alan Bennett, assisted the directors in securing an Administration order in respect of Ronin Development Corporation (the "Company").
The Company was incorporated in Princeton, New Jersey, in October 1986 under the New Jersey Business Corporation Act, and is a global marketing, consulting and research company.
The English High Court were persuaded to lift the automatic stay imposed under the Cross-Border Insolvency Regulations (SI 2006/1030) in relation to Korean proceedings, to allow English litigation proceedings to be continued by an unsecured creditor.
Summary