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    Cross-Border Insolvency: Enforcing an English Bankruptcy Order in Scotland
    2025-03-05

    In this article Leon Breakey explains some of the issues that can arise when an English bankruptcy order is issued and the debtor owns property in Scotland.

    When an English debtor with an interest in heritable property in Scotland is made bankrupt under English law, a crucial question arises: how can the English bankruptcy order be enforced in Scotland? This article explores this issue, highlighting the potential risks for trustees and the solution provided by Section 426 of the Insolvency Act 1986.

    The Issue: English Bankruptcy Orders and Scottish Property

    Filed under:
    United Kingdom, Scotland, Insolvency & Restructuring, Litigation, Morton Fraser MacRoberts LLP, Insolvency, Infrastructure
    Authors:
    Leon Breakey
    Location:
    United Kingdom
    Firm:
    Morton Fraser MacRoberts LLP
    Peabody Trust v NHBC: is contractor insolvency alone enough to trigger cover under an insurance policy?
    2024-09-26

    Overview

    Peabody Trust ("Peabody") issued proceedings against National House Building Council ("NHBC") to recover insured extra project costs incurred following contractor insolvency. NHBC sought to short circuit the litigation via an application for summary judgment and strike-out.

    Filed under:
    United Kingdom, Construction, Insolvency & Restructuring, Insurance, Litigation, DAC Beachcroft, Insolvency, Infrastructure
    Authors:
    Alessandro Morgan-Gianni , Giles Tagg
    Location:
    United Kingdom
    Firm:
    DAC Beachcroft
    When does time start to run on a contractor insolvency claim under a NHBC new homes policy?
    2024-09-12

    The Technology and Construction Court recently delivered helpful judicial guidance on when an insured’s cause of action under an the NHBC ‘Buildmark Choice’ policy, providing cover for contractor insolvency before practical completion arises.

    Filed under:
    United Kingdom, Construction, Insolvency & Restructuring, Litigation, Beale & Co, Insolvency, Limitation Act 1980 (UK), Technology and Construction Court, Construction & engineering, Infrastructure
    Authors:
    James Vernon
    Location:
    United Kingdom
    Firm:
    Beale & Co
    Liability of Trustees in Bankruptcy for CGT on Real Property
    2024-09-11

    Did you know that bankruptcy trustees are now liable for capital gains tax (CGT) on the sale of real property? Section 254 of the Income Tax Assessment Act 1936 (Cth) imposes specific obligations on trustees and agents, covering income, profits, and gains of a capital nature in their representative capacity. This has recently taken on new importance for bankruptcy trustees.

    What has changed?

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, Tax, Macpherson Kelley, Bankruptcy, Capital gains tax, Australian Taxation Office, Income Tax Assessment Act 1936 (Australia), Bankruptcy Act 1966 (Australia), Trustee, Infrastructure
    Authors:
    Daniel Wignall
    Location:
    Australia
    Firm:
    Macpherson Kelley
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