The High Court has scrutinised the validity of a Declaration of Trust and the enforcement of charging orders. Wade v Singh sheds light on the intricate balance between property rights, trust law, and creditor protection in an insolvency. The case, centered around a property known as "the Oaks," involved the liquidators of MSD Cash & Carry Plc (in liquidation) seeking to enforce charging orders against properties owned by various family members involved in the business to satisfy a significant judgment debt.
Background of the Case
And so, we continue the tale with the TIBs now triumphantly holding both the hard-won exequatur which expressly recognised the bankruptcy order and Trustee in Bankruptcy (TIB) and confirmed that all rights and powers were enforceable in France and judgment of the French criminal court which restored the seized criminal assets to the TIBs under the vesting provisions of the Insolvency Act 1986. However, there were still clear and untested differences to obtaining automatic recognition under the EU Regulation on Insolvency proceedings (as Recast) (RIR).
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This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
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Amar Meher, Addleshaw Goddard LLP
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Mark Goodman, Katie Logan and Jordie Fienberg, Campbells
This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
Diego Sierra and Jessika Rocha, Von Wobeser y Sierra, SC
This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
Elizabeth McColm, Brian Bolin and Mitchell Mengden, Paul Weiss Rifkind Wharton & Garrison
This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.