Savers who become bankrupt but have not yet drawn their pensions will not have to hand them to creditors after a ruling of the Court of Appeal put an end to fears that pension pots were at risk.

The Court of Appeal upheld the High Court’s ruling on Horton v Henry, originally heard in 2014, settling legal difficulties arising from a conflicting judgment of Raithatha v Williamson (2012); and the introduction of the pension freedoms.

Until recently, Irish creditors could reasonably assume that money judgments awarded in Ireland could be enforced within all other EU member states, including the UK[1]. This gave Irish creditors comfort that they could swiftly and cost-effectively pursue UK-situate assets of a judgment debtor, after a judgement was obtained in Ireland.

The Housing and Planning Act changes what happens to insolvent housing associations, says Séamas Gray in an article for Inside Housing.

Traditionally, when a company becomes insolvent, it enters one of several types of insolvency processes and its assets are typically sold to the highest bidder to raise as much money as possible to distribute to the company’s creditors.

In relation to a housing association, this might well mean a sale outside the regulated sector with the knock-on effect of an immediate reduction in available social housing.

Simple retention of title clauses are commonplace and generally effective in contracts for the sale of goods. However, extending their effect to the proceeds of sale of such goods requires careful drafting.

The Court of Appeal has provided some further clarity around the creation and effects of fiduciary obligations in relation to such clauses.[1]

Proceeds of sale clauses

A recent Court of Appeal decision in the UK has ruled that individuals facing bankruptcy cannot be forced to hand over their pensions to pay off outstanding debts. We examine the affect insolvency can have on your pension in this jurisdiction.

The recent UK Court of Appeal decision in Horton v Henry ruled that there was no requirement to draw down funds held in a pension in the event of bankruptcy. As a result of this decision, the UK legal system now appears to acknowledge that pension funds should be out of the reach of a bankruptcy trustee.

In an article for the LexisNexis ‘On the edge’ series of briefings, which highlight areas of legislation that may not fall with the everyday work of insolvency practitioners, Pat Saini and Séamas Gray offer guidance on immigration law.

Why is immigration law relevant to insolvency practitioners and their staff?

Legislation applicable generally

The Residential Tenancies (Amendment) Act 2015 has undoubtedly strengthened the position of tenants and increased the responsibilities and challenges facing receivers appointed by secured lenders over residential investment properties. While the added protections for tenants are to be welcomed, certain provisions of the Act result in relatively onerous obligations on receivers who are already faced with practical difficulties when seeking to deal with and realise the secured asset in accordance with their duties.

As we head into a new Legal Year, we examine recent trends in debt recovery litigation. The Courts Service 2015 Annual Report noted, in the words of Chief Justice Ms. Susan Denham, “another busy year for the courts”. Indeed, the courts received 248,254 new civil cases in 2015, a very marginal decrease from the corresponding 2014 figure.

Default judgments

The High Court has reiterated that cross-examination will not generally be permitted on an interlocutory application, or where there is no conflict of fact on the affidavits.

In McCarthy v Murphy,^[1] the defendant mortgagor was not permitted to cross-examine the plaintiff (a receiver) or a bank employee who swore a supporting affidavit.

Background

Two recent judgments have brought further clarity in relation to the rights acquirers of loan portfolios to enforce against borrowers: