Varden Nuttal Ltd v Michelle Louise Baker (2016)
It was decided that a bankruptcy order should have been made in circumstances where the debtor had misled the creditors when agreeing and entering into an Individual Voluntary Arrangement (“IVA”).
Background
Liquidators and creditors of insolvent companies will be breathing a collective sigh of relief at the recent Supreme Court judgment in Jetivia v Bilta, where it held that the illegality defence was not available where a company, through its liquidators, was making claims against the directors for breaches of their duties to the company. In some ways the result was not that surprising, but should it have gone the other way, it would have deprived liquidators of a well-used weapon in their armoury for bringing claims against directors who have defrauded a company on its way to i
On 8 May 2014, the Supreme Court ordered the CPS to pay the costs and expenses of a receiver appointed over assets, which were not recoverable from a defendant under investigation (Barnes (the former Court Appointed Receiver) v The Eastenders Group and another [2014] UKSC 26).
In the case of B v IB [2013] EWHC 3755 (Fam) the High Court has determined the status of an application made under s.423 of the Insolvency Act 1986 issued during divorce proceedings where the husband had died during the process and the wife intended to commence new proceedings under s.10 of the Inheritance (Provision for Family and Dependants) Act 1975.
Background
Judgment date: 28 June 2013
Solicitor struck off for disgraceful conduct unconnected to professional duties
M, a solicitor, was struck off the Roll of Solicitors by the Solicitor’s Disciplinary Tribunal (the Tribunal) following a finding that he was guilty of disgraceful conduct.
Freezing Injunctions
Events of Default are most often found in the context of loan agreements and are similar to termination rights that may be found in commercial agreements, albeit with potentially different consequences. An Event of Default is an event or circumstance relating to a borrower or its activities which will give rise to a right for a lender to refuse to make any further advances, demand immediate repayment of a loan, make a term loan repayable on demand and/or enforce its security.
Freezing Injunctions
Unlawful Means Conspiracy
In the recent case of R (Monarch Airlines Limited (in administration)) v Airport Coordination Limited [2017] EWCA Civ 1892, the Court of Appeal considered whether an airline that had fallen into administration could still be allocated valuable slots at airports.