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    High Court considers interaction between recast Brussels Regulation, Insolvency Regulation and schemes of arrangement
    2015-08-25

    A recent judgment of the High Court will serve to remind minority, overseas creditors of any company having a substantial connection with England that their debtor’s liabilities could be compromised, restructured or reduced through a scheme of arrangement in England: Van Gansewinkel Groep BV [2015] EWHC 2151 (Ch).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, High Court of Justice (England & Wales)
    Authors:
    Gary Milner-Moore , Andrew Cooke
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    The BoE approach to Solvency II
    2015-07-16

    A speechby Sam Woods of the Bank of England (BoE) says a lot about its approach to Solvency II and leaves a lot more unsaid.

    Woods said that he wanted to dispel two myths:

    Filed under:
    United Kingdom, Insolvency & Restructuring, Herbert Smith Freehills LLP, Solvency II Directive (2009/138/EU)
    Authors:
    Geoffrey Maddock
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    The English High Court finds that arbitration clause “trumps” Insolvency Rules
    2015-04-30

    The case of Philpott & Orton v Lycee Francais Charles De Gaulle Schoolserves as a welcome reminder that the English court will strictly enforce agreements to arbitrate by ordering a mandatory stay of court proceedings, even in contexts where court procedures may traditionally apply.

    Filed under:
    United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Arbitration clause
    Authors:
    Craig Tevendale , Elizabeth Kantor
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    Supreme Court confirms company in liquidation not prevented from claiming against directors on the basis of fraud attributable to the company
    2015-04-27

    The Supreme Court has unanimously upheld a Court of Appeal decision refusing to strike out a claim by a “one-man” company in liquidation, which had been the vehicle for a VAT fraud, against its former directors and overseas suppliers alleged to have been involved in the fraud: Jetivia SA v Bilta (UK) Limited [2015] UKSC 23 (see our post on the Court of Appeal decision 

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, White Collar Crime, Herbert Smith Freehills LLP, Fraud, Liquidation, Supreme Court of the United States
    Authors:
    Tom Henderson
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    Fraud/iniquity exception applied to displace privilege where evidence of transaction defrauding creditors
    2015-02-11

    In a recent decision, the High Court held that legal advice taken in relation to certain transactions was not protected by privilege, as there was prima facie evidence that the purpose of the advice was to structure the transactions in a way that avoided the client’s liability to pay local authority care charges and/or as a transaction defrauding creditors: London Borough of Brent v Kane [2014] EWHC 4564 (Ch).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Fraud, High Court of Justice (England & Wales)
    Authors:
    Andrew Cooke , Maura McIntosh
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    Court of Appeal finds clear breach of unless order for e-disclosure
    2014-12-19

    The Court of Appeal has held that claimant liquidators were in breach of an “unless order” for e-disclosure, overturning the High Court’s decision that there was no breach despite the mistaken omission of certain important categories of documents from the list:Smailes v McNally [2014] EWCA Civ 1296. The result was that the liquidators’ claim was struck out.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Court of Appeal of England & Wales
    Authors:
    James Farrell , Maura McIntosh
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    English Court of Appeal considers whether the mandatory stay provisions of s9(1) of the Arbitration Act of 1996 apply to winding-up petitions
    2014-12-15

    The English Court of Appeal dismissed an appeal brought against a recent High Court decision to stay a winding-up petition in favour of arbitration proceedings, in Salford Estates (No. 2) Limited v Altomart Limited [2014] EWCA 575 Civ.

    Filed under:
    United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Liquidation, Arbitration Act 1996 (UK), Court of Appeal of England & Wales
    Authors:
    Nicholas Peacock , Maguelonne de Brugiere
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    Jackson reforms to apply to insolvency proceedings from April 2015
    2014-09-18

    According to press reports this week, the insolvency exception to the Jackson reforms will end next April, meaning that CFA success fees and ATE insurance premiums will no longer be recoverable in proceedings brought by liquidators, administrators, trustees in bankruptcy, or companies in liquidation or administration. Recoverability in all other claims was abolished from April 2013 (subject to exceptions for defamati

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    Court of Appeal confirms contractual rules apply by analogy to assessment of compensation under cross-undertaking in damages
    2014-07-10

    A recent Court of Appeal decision has confirmed that the usual contractual rules, including as to remoteness of damage, apply by analogy to the assessment of compensation under a cross-undertaking in damages in a freezing order. However, there is also room for exceptions, given that there is in fact no contract: Hone and others v Abbey Forwarding Ltd and another[2014] EWCA Civ 711.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Court of Appeal of England & Wales
    Authors:
    Adam Johnson , Sophie Jones
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    Fair game!
    2014-02-24

    The Court of Appeal has today handed down judgment in the hugely anticipated litigation involving the Game group of companies, deciding that, where a company goes into administration and continues to trade from property, rent will be payable on a daily basis for the period during which the company actually occupies the premises.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Herbert Smith Freehills LLP
    Authors:
    Matthew Bonye , Frances Edwards
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP

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