RE: HARVEST FINANCE LTD; JACKSON & ANOTHER V CANNONS LAW PRACTICE LLP & OTHERS [2014]

This case concerns the provision of documentation under s236 IA 1986. The documentation requested by the liquidators was extensive and the Respondents wished to claim their time costs (£40,381) of providing the same.  The Court held that whilst it was within the Court’s jurisdiction to make an order for costs against the insolvent estate, it was not minded to do so in this case.

The Facts

ASTRA RESOURCES PLC V CREDIT VERITAS USA LLC [2015] EWHC 1830 (CH)

It is trite law that the court will grant an injunction restraining the advertisement of a winding-up petition where the petition amounts to an abuse of process.

E: BW ESTATES LTD; RANDHAWA AND ANOTHER V TURPIN AND ANOTHER [2015] EWHC 517 (CH) (“RVT”)

This decision followed an application by creditors (“the Randhawas”) of BW Estates Ltd (“the Company”) against the administrators of the Company that their remuneration should be deemed excessive and either disallowed entirely or reduced to such extent as the court thought appropriate.

The Facts

RE: BPE SOLICITORS & ANOTHER V GABRIEL [2015] UKSC 39 

The Supreme Court considered whether a trustee in bankruptcy who was considering adopting proceedings and lodging an appeal should be personally liable for historic adverse costs which had been awarded against the bankrupt prior to the commencement of the bankruptcy.

A Trustee in Bankruptcy’s liability for litigation costs

Stevensdrake Ltd v Stephen Hunt & Others [2015] EWHC 1527 (Ch)

Introduction

The High Court’s recent judgment in Stevensdrake Ltd -v- Stephen Hunt & Others highlights the need for Insolvency Practitioners to make sure that they carefully review conditional fee arrangements before entering into them and understand the potential contractual ramifications which may give rise to personal liability.

Background

The South East’s position as one of the more prosperous areas of the UK, in terms of both lifestyle and work looks set to continue, as demonstrated by the findings of Lambert Smith Hampton’s UK Vitality Index Report 2015 in which Guildford came out as the top destination in the UK, with other cities in the region dominating the list.

TECHNICAL UPDATE - APRIL 2015

The Small Business, Enterprise and Employment Act 2015 (“the Act”), which received Royal Assent on 26 March 2015, contains a number of changes and additions to the Insolvency Act 1986 (“IA 1986”). 

A summary of the changes, as they relate to insolvency proceedings, are highlighted below but for full details as to the newest additions to the IA 1986, please see s117 to s146 of the Act which can be located at:

The Court of Appeal judgment in JSC BTA Bank v Mukhtar Ablyazov, Madiyar Ablyazov [2018] EWCA Civ 1176 confirms the correct approach when assessing the ‘prohibited purpose’ element of section 423 claims.

Summary

For anyone thinking of donating antiques or other valuable gifts to be part of a museum collection there is a moral to follow: beware how you give and to who you give it to! This was never better demonstrated than in the example of the Wedgwood collection and the case of the disappearing museum.

Tiuta International Ltd (In Liquidation) v De Villiers Surveyors Ltd [2017] UKSC 77

Overview