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    High Court finds Secretary of State's affirmation in disqualification proceedings is not publicly available as a statement of case
    <br>
    2024-12-03

    In a recent decision, the High Court refused to grant the Financial Times access to the whole of the Secretary of State's affirmation in support of directors' disqualification proceedings against Alexander Greensill, pursuant to either CPR 5.4C or the court's inherent jurisdiction.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Insolvency, Insolvency Service (UK), International Criminal Court
    Authors:
    Richard Mendoza , Ella McDonnell
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    The matrimonial home and agreeing a change in beneficial ownership - Court confirms importance of setting it out in writing
    2024-02-01

    Nilsson & Anor v Iqbal & Anor [2024] EWHC 49 (Ch) was an application by the joint trustees in bankruptcy of Mohammed Babar Iqbal for a declaration as to the beneficial ownership and an order for possession and sale of his former matrimonial home, Southview, Pollards Hill East in London. Mr Iqbal, the first respondent, did not appear to resist the trustees’ claim. The second respondent, Mrs Iqbal, did. She was his former wife under Islamic law.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Wedlake Bell, Beneficial ownership, International Criminal Court
    Authors:
    Sarah May
    Location:
    United Kingdom
    Firm:
    Wedlake Bell
    Secretary of State For Business and Trade v Barnsby (Re Pure Zanzibar Ltd) [2023] EWHC 2284 (Ch)
    2023-10-13

    Summary

    In this High Court case ICC Judge Barber ordered a disqualified director to compensate creditors for losses under s15A of the Company Directors' Disqualification Act 1986 (CDDA) as a result of negligent conduct in trading a company illegally.

    Facts

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Stevens & Bolton LLP, International Criminal Court
    Authors:
    Tim Carter , David Draper
    Location:
    United Kingdom
    Firm:
    Stevens & Bolton LLP
    Hellard v Khan
    2024-05-17

    Phoenix Tech Ltd had carried on business to defraud HMRC by participating in a kind of VAT fraud sometimes called “missing trader intra-community” fraud or “carousel” fraud. It had submitted a VAT return claiming the right to deduct VAT and a repayment in respect of various transactions in the sum of £4.5 million. HMRC denied the input tax claim in relation to the transactions and issued a misdeclaration penalty for £607,387. The company appealed to the First-tier Tribunal (Tax Chamber).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Wedlake Bell, Due diligence, HM Revenue and Customs (UK), International Criminal Court
    Authors:
    Frances Coulson
    Location:
    United Kingdom
    Firm:
    Wedlake Bell
    Pure Zanzibar Ltd
    2023-09-21

    In Secretary of State for Business, Energy And Industrial Strategy v Barnsby [2022] EWHC 971 (Ch) ICC Judge Barber imposed a seven year disqualification period on the defendant arising out of his conduct as a director of Pure Zanzibar Ltd. Her latest judgment in the same case ([2023] EWHC 2284 (Ch)) deals with the Secretary of State’s claim for a compensation order under section 15A Company Directors Disqualification Act 1986.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Wedlake Bell, Legal aid, Civil Aviation Authority (UK), International Criminal Court
    Authors:
    Frances Coulson
    Location:
    United Kingdom
    Firm:
    Wedlake Bell
    High Court gives guidance on the so-called creditor duty where a company faces solvency-threatening claim
    2023-09-04

    In a recent case, the High Court has had one of its first opportunities to consider BTI v Sequana [2022] UKSC 25 (see our previous update here), in which the Supreme Court gave important guidance on the existence and scope of the duty of company directors to have regard to the interests of creditors (the so-called “creditor duty”, which arises in an insolvency scenario).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Herbert Smith Freehills LLP, Employee Retirement Income Security Act 1974 (USA), HM Revenue and Customs (UK), Supreme Court of the United States, International Criminal Court
    Authors:
    Andrew Cooke , Richard Mendoza
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    Durkan & Anor v Jones (Re Nicholas Mark Jones)
    2023-06-19

    The question for the court in Durkan & Anor v Jones (Re Nicholas Mark Jones) [2023] EWHC 1359 (Ch) was whether it had jurisdiction to make a bankruptcy order.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Wedlake Bell, Barclays, HM Revenue and Customs (UK), Insolvency Act 1986 (UK), International Criminal Court
    Authors:
    Frances Coulson
    Location:
    United Kingdom
    Firm:
    Wedlake Bell
    Where there's a 'will' - service of insolvency applications
    2023-05-25

    In a recent decision in the high value bankruptcy of Pramod Mittal (Mr Mittal), the Chancery division considered the rules on service of insolvency applications. The decision underlines the importance of adhering to service rules and giving as much notice as possible of insolvency applications.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Gowling WLG, Insolvency, International Criminal Court
    Authors:
    Jason Freedman , Joanna Rhodes , Christopher Richards
    Location:
    United Kingdom
    Firm:
    Gowling WLG
    What is Meant by the language to “Consider” in the Insolvency Legislation ?
    2023-05-15

    The recent case of Dolfin Asset Services Ltd v Stephens & Anor (Re Dolfin Financal (UK) Ltd) [2023] EWHC 123 (Ch) (“Dolfin“) concerned a special administration, but it has relevance to administrators more generally. In particular, when it comes to the judge’s view of what is meant by the word “consider” – which is phrase used in the insolvency legislation when it comes to making decisions.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Insolvency, International Criminal Court
    Authors:
    Andrew Bennett
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    (UK) EBT Claims- Have Beneficiaries been Unjustly Enriched?
    2023-03-15

    Can a liquidator run an unjust enrichment claim to seek to recover PAYE and NIC liabilities from a company’s directors arising from the company’s use of a “disguised remuneration” employee benefit trust (“EBT”) scheme? Based on the findings of ICC Judge Barber in the case of Re Ethos Solutions Ltd, the answer is “no”.

    EBTs: Background

    Filed under:
    United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Tax, Squire Patton Boggs, HM Revenue and Customs (UK), International Criminal Court
    Authors:
    Jon Chesman
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs

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