The case of Burnden Holdings (UK) Limited (in liquidation) v (1) Gary John Fielding (2) Sally Anne Fielding [2016] determined whether a claim in respect of breach of duty against two directors of Burnden Holdings (UK) Limited (Burnden) was time-barred. The alleged breach of duty was in connection with a distribution in specie. The Court of Appeal overturned the High Court’s decision and held that section 21 of the Limitation Act 1980 (LA 1980) applied so that the claim was not subject to the usual period of limitation.
This briefing is the second in a series of 3 briefings about the Third Parties (Rights Against Insurers) Act 2010 which we will be publishing on the run-up to it coming into force on 1 August 2016.
Click here if you would like to read the first briefing in the series.
The pros and cons every claims professional needs to know
This briefing is the first in a series of 3 briefings about the Third Parties (Rights Against Insurers) Act 2010 which we will be publishing over the next fortnight.
The pros and cons every claims professional needs to know – part 1
Brexit Overview
Legal implications of the UK withdrawal from the EU
There is no precedent for a member state leaving the EU and we can expect slow progress to be made in relation to our exit and the conclusion of alternative trade deals, with estimates for the timescale ranging from two to 10 years. However long it takes, we can be sure that complex negotiations will be required.
English insolvency and restructuring law and procedures are significant at both the European and world level. In recent times lenders, debtors and many others have sought to take advantage of the varied, flexible and fair procedures available in our jurisdiction.
Introduction
In the first 3 months of this year, company insolvencies increased for the first time since 2014. In April, UK manufacturing activity contracted for the first time in 3 years.1 A range of explanations has been offered including
weaker domestic demand, low oil prices hitting production and uncertainty created by the EU referendum. It the circumstances, it seems timely to look at one of the remedies that can be available to manufacturers and suppliers in the event of a customer failing to pay for goods.
Commercial Litigation
When can you be deprived of costs where you better your Part 36 offer?
On 17 December 2015, the Ministry of Justice made a final decision to end the Insolvency Litigation exemption from the 2012 Legal Aid, Sentencing and Punishment of Offenders Act (LAPSO) (see Written Statement here). Successful claimants will no longer be able to recover the success fee on a Conditional Fee Agreement (CFA) or After the Event insurance (ATE) premium from the opposing party for those CFAs entered into or ATE obtained from 1 April 20
The Pension Protection Fund (PPF) levy Determination for 2016/17 was published on 17 December 2015. It follows a consultation with PPF stakeholders which was launched in September this year. The levy Determination sets out the rules for calculating a scheme’s annual PPF levy. In our September Update we reported on the key changes which were being proposed as part of the 2016/17 consultation process.