The decision handed down in Re A Company [2024] EWHC 2656 (Ch) has provided new insight on what constitutes "genuine and serious" cross-claim for the purposes of securing an injunction to restrain presentation of a winding up petition.
Background
Two recent cases from New Zealand demonstrate how an equitable lien can arise in insolvency to elevate the interest of unsecured purchasers of goods to secured status.
Key takeouts
Track record of insolvency – implications for licensing
A recent decision of the Tribunal, affirming a licensing decision under the Home Building Act 1989 (HB Act) of the regulator to refuse an application to renew a qualified supervisor certificate, reveals the keen focus of the regulator on using its licensing powers to clean up the industry.
The applicant before the Tribunal was the director, secretary and controlling mind of a company licensed under the HB Act and was its nominated supervisor.
Following the important decision in Martlet Homes Ltd v Mulalley & Co Ltd [2022] (see our summary here), LDC (Portfolio One) Ltd v George Downing Construction
The First-tier Tribunal (FTT) has made what is understood to be the first Remediation Contribution Order under the Building Safety Act 2022 (BSA) in connection with the remediation of building safety defects at a high-rise residential block at 9 Sutton Court Road, in London.
It is five years since the tragic Grenfell disaster but defective cladding/dangerous living conditions and fire safety are still very much hot news. But, you may be asking, why is this relevant to insolvency practitioners?
Four months ago I posted this article on the impact of Omicron related restrictions and other economic headwinds on an already battered hospitality and leisure sector. Operators in these sectors have worked so hard to survive the Covid-era by cutting costs, seeking operational efficiencies, and negotiating support from stakeholders and we all hoped that Omicron was but a short-term delay in the return to normalcy.
This month sees a statement by the Charity Commission on the Ukraine crisis and how this impacts charities, and a factsheet released by the UK government on the impact the war has had on energy.
There are also some very interesting articles regarding support for domestic abuse victims to how to deal with Social Housing complaints.
Finally there is a press article on TLT’s involvement in the innovative second modular deal for Town and Country Housing and Legal and General Modular Homes.
UK REIT Horizon Scanner Q4 2021
UK REIT Horizon Scanner Q4 2021
Key Issues
Key issues coming up for UK Main Market REITs in corporate, financial regulatory, planning, real estate, securities law and regulation and tax1 in England (including retained EU law2).
Issue/status/timing: New developments since our March 2021 edition are shown in green text. Impact: urgency/impact rating for REITs admitted to London Stock Exchange Main Market (including the Specialist Fund Segment3)
The First-tier Tribunal (FTT) has made what is understood to be the first Remediation Contribution Order under the Building Safety Act 2022 (BSA) in connection with the remediation of building safety defects at a high-rise residential block at 9 Sutton Court Road, in London.