Morgan, in the matter of Brighton Hall Pty Ltd (in liq) [2013] FCA 970 considered whether a liquidator can claim remuneration in preference to third parties who would otherwise be given priority under s 562 of the CorporationsAct 2001 (Cth) (CA).
In its recent judgment of Morgan,In the matter of Brighton Hall Securities Pty Ltd (in liquidation) [2013] FCA 970, the Federal Court of Australia determined that a liquidator is entitled to retain certain remuneration and other expenses from the proceeds of a claim under a professional indemnity insurance policy in preference to claimants, who would otherwise have a statutory priority under section 562 of the Corporations Act.
BACKGROUND
In Lehman Brothers Australia Limited, in the matter of Lehman Brothers Australia Limited (in liquidation) (No 2) [2013] FCA 965, the Federal Court again confirmed that schemes of arrangement are a viable restructuring tool to compromise claims involving a class of creditors and third parties.
BACKGROUND
Summary
The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 (Regulations) to amend the structure of UK annual reports have been published and laid before Parliament.
The Financial Reporting Council (FRC) and institutional bodies have published the following guidance in relation to corporate governance and directors' remuneration in the last few months.
The Hogan Lovells’ Corporate Insurance Newsletter for January 2020 has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this issue, amongst other items, we cover:
In this chapter of our Annual Insurance Review 2020, we look at the main developments in 2019 and expected issues in 2020 for restructuring and insolvency.
Key developments in 2019
In one of the leading insurance insolvency and restructuring cases of 2019, Ballantyne Re, plc (Ballantyne) used an Irish scheme of arrangement to restructure its reinsurance obligations and outstanding indebtedness (the Scheme).
The Irish Government is planning to take measures in the areas of settlement finality, insurance, and insurance distribution in the event of a 'no-deal Brexit'. The relevant measures are set out in Parts 7 and 8 of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2019 (the “Withdrawal Bill”), which was published on 22 February 2019. These measures are in addition to a number of measures already taken at EU level.
Settlement Finality
28 November 2018
NautaDutilh
Recovery and Resolution (Insurers) Act
FCS Financial Law