The Insolvency and Companies Court has recognised Chapter 11 Proceedings in the US in respect of the manufacturer of controversial surgical mesh products which have generated a significant number of claims worldwide. The British Claimants have had their claims stayed as a result of this recognition.

Re Astora Women’s Health LLC [2022] EWHC 2412 (Ch)

What are the practical implications of this case?

Restructuring and Insolvency analysis: The respondents to a claim brought by the joint liquidators of BHS Group companies have successfully struck out parts of claims brought under sections 212 and 214 of the Insolvency Act 1986 (IA 1986) on the basis of open-ended pleadings as to the relevant date of knowledge that insolvent liquidation was inevitable and trading should have ceased.

Chandler v Wright and others [2022] EWHC 2205 (Ch)

What are the practical implications of this case?

Dispute Resolution analysis: The High Court has granted an application to wind up a company incorporated in Luxembourg in a decision which sheds light on the application of cross-border insolvency principles following the UK’s departure from the European Union.

Barings (UK) Limited and ors v Galapagos SA [2022] EWHC 1633 (Ch)

What are the practical implications of this case?

Part 1 of this two-part series explored potential legislative changes which could impact the Australian insolvency landscape in 2022 and beyond. Part 2 addresses the recent major developments in case law that have the potential to shape the insolvency landscape in Australia for many years to come.

King & Ors v Kings Solutions Group Ltd & Ors [2022] EWHC 1099 (Ch)

Background

This appeal arose in the context of long-running and complex dispute between the shareholders of Kings Solutions Group Limited (‘the Company’).

Financial support for businesses impacted by COVID-19, legislative provisions (such as the statutory relaxation to insolvent trading liability) and general creditor leniency have resulted inhistorically low insolvency appointments during the last two years.

New requirements brought in during the Covid-19 pandemic have added to the potential procedural pitfalls facing creditors seeking a winding up order in recent months. They have also led to quite a lot of adjourned hearings and delays.

The High Court has handed down the long-awaited decision of Stubbings v Jams 2 Pty Ltd [2022] HCA 6, unanimously overturning the decision of the Victorian Court of Appeal. In so doing, the Court held that enforcement of rights under a personal guarantee was unconscionable.

Dispute Resolution analysis: Deputy ICCJ Schaffer has dismissed an application brought by the Respondents to a claim brought by the Joint Liquidators of BHS Group Ltd for wrongful trading. The failure to plead the relevant quantum of the claim was not a deficiency which merited strike-out.

Re BHS Group Ltd [2021] EWHC 3501 (Ch)

What are the practical implications of this case?

In Walton v ACN 004 410 833 Limited (formerly Arrium Limited) (in liquidation) [2022] HCA 3, the High Court extended the purpose for which, and incidentally parties by whom, public examinations may be used.