A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).
A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).
Background
The collapse of Carillion in 2018 was arguably the UK's largest corporate insolvency in years, creating a lasting impact through job losses and the derailment of hundreds of public sector projects.
On 9 February, the High Court handed down its judgement on Re Link Fund Solutions Ltd [2024] EWHC 250 (Ch) (the "Link Case").
It’s no secret that the Government is looking for the UK to become a leader in the crypto market while increasing its regulation. This balancing act will become even more prevalent in the English courts over the next couple of years when it comes to restructuring and insolvency.
In Re Tucker, Quintis Leasing Pty Ltd [2023] FCA 1673, the administrators of a company successfully obtained orders from the Federal Court modifying the operation of section 443B of the Corporations Act 2001 (Cth).
HFW DISPUTES DIGEST 2023
Welcome to the second annual Disputes Digest, in which we collate our 2023 global HFW LITIGATION and International Arbitration publications in one place.
This edition includes updates from across our Disputes arena, including England and Wales, BVI, AsiaPac, and the Middle East.
A Case Analysis of Official Trustee in Bankruptcy v Kent (No 2) [2023] FCA 1396
In Official Trustee in Bankruptcy v Kent [2023] FCA 1211 (“Principal Case“), the Court found that a bankrupt’s right to claim compensation through the Australian Financial Complaints Authority (“AFCA”) is personal to the bankrupt and that right cannot be assigned to the Trustee.
The Consumer Duty is one of the most significant pieces of regulation to land in the financial services industry for some time and represents a major shift in how firms will need to view customer outcomes and proactively address harm in the retail market. For Insolvency Practitioners (IPs) appointed over a regulated firm that has products within the scope of the duty, this will form part of the regulatory obligations with which the firm (and the IP) will need to ensure compliance.