The High Court has provided useful guidance on the interplay between the JCT regime for payment and claims in insolvency proceedings, in the recent case of Levi Solicitors LLP v Wilson and another [2022] EWHC 24 (Ch).
The application
The shackles preventing stakeholders from putting pressure on companies will soon be firmly off as winding up petition protections and rental support end, warn Matthew Padian and Lucy Trott.
Those of us who dabble in the insolvency world keep a keen lookout for the Insolvency Service’s insolvency statistics whenever they appear.
As we enter a new era of ‘living with Covid’, new financial woes accompany new freedoms for many. Inflation is now at a 30-year high, with income failing to keep pace with the cost of living and interest rates rising twice in the last 4 months. A number of retailers, including Next, B&M and Greggs, have warned that soaring costs cannot be fully absorbed and will lead to price rises for consumers in 2022.
So, what is going on for retailers post-pandemic? And what steps can smaller, boutique brands take to mitigate the risks to their businesses going forward?
Introduction
In the case of Stanford International Bank Ltd (in liquidation) v HSBC Bank PLC [2021] EWCA Civ 535, which concerns a negligence claim for breach of Quincecare duty and dishonest assistance against the defendant bank, the English Court of Appeal (“CA”) unanimously found in favour of HSBC Bank plc (“HSBC”) and struck out both claims.
Background
簡介
在Stanford International Bank Ltd (in liquidation) v HSBC Bank PLC [2021] EWCA Civ 535一案中，英國匯豐銀行（「匯豐」）被指違反Quincecare責任及提供不誠實的協助，因而被控疏忽。英國上訴法院（「上訴庭」）一致裁定匯豐勝訴，兩項申索均被駁回。
背景
於2009年倒閉清盤的Stanford International Bank Limited（「原告人」）在2003至2009年期間在匯豐持有多個帳戶（「涉案帳戶」）。原告人因被用作史上其中一個最大的龐茲騙局而欠債超過50億美元。原告人的清盤人（「清盤人」）向匯豐提出以下兩項申索：
简介
在Stanford International Bank Ltd (in liquidation) v HSBC Bank PLC [2021] EWCA Civ 535一案中，英国汇丰银行（「汇丰」）被指违反Quincecare责任及提供不诚实的协助，因而被控疏忽。英国上诉法院（「上诉庭」）一致裁定汇丰胜诉，两项申索均被驳回。
背景
于2009年倒闭清盘的Stanford International Bank Limited（「原告人」）在2003至2009年期间在汇丰持有多个帐户（「涉案帐户」）。原告人因被用作史上其中一个最大的庞兹骗局而欠债超过50亿美元。原告人的清盘人（「清盘人」）向汇丰提出以下两项申索：
Following the 54% increase in the energy price cap announced by Ofgem on 3 February, and with many predicting that a second substantial increase may be required this October to keep pace with wholesale prices, what is next for beleaguered small energy suppliers?
The Insolvency Service published its latest company insolvency statistics at the end of January, reporting both on Q4 2021 as well as 2021 as a whole.
The statistics can be accessed here and we highlight some of the key takeaways below.
1. Q4 2021 Company insolvency statistics
Throughout the pandemic, a steady stream of government support was made available to prop-up businesses. As we move towards a New Normal, those support packages are being scaled-back. Many businesses are still recovering from the shock of the last 18 months and, with high levels of historic debt as an additional burden, are not yet back to full financial health.
简介
最近在Nuoxi Capital Ltd (In Liquidation in the British Virgin Islands) v Peking University Founder Group Co Ltd [2021] HKCFI 3817一案中，香港法院裁定，尽管香港法院承认维持完好契据（「维好契据」）的提供者在内地所提出的清盘程序并向管理人提供各种协助，但境外债券持有人在维好契据下的权利仍应根据合约的专属司法管辖权条款在香港裁决。
维持完好安排与释疑函件类似，都是内地企业支持其附属公司发行境外债券的常用增强信贷方式。由于维好契据不构成担保，内地企业集团往往以此规避禁止为境外债务提供抵押的规定。
背景