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.
Unregistered and time-barred foreign judgments can found the basis of insolvency proceedings in England
The English High Court has ruled that unregistered and time-barred foreign judgments can found the basis of insolvency proceedings in England.
The threat of insolvency proceedings can be a strong form of leverage to obtain a successful outcome on enforcement of a judgment debt, as judgment debtors will often pay up when faced with the prospect of being found insolvent.
Foreign money judgments
The Courts, practitioners and leading textbooks have always assumed that the Limitation Act 1980 (the Limitation Act) does not apply to claims for relief from unfair prejudice under section 994 of the Companies Act 2006 (the Companies Act).
In THG Plc v Zedra Trust Company (Jersey) Limited [2024] EWCA Civ 158, the Court of Appeal examined the basis for that assumption and unanimously decided that:
In Re a Company [2024] EWHC 1070 (Ch) was an application to restrain presentation of a petition on five grounds:
(1) that the judgment debt was time-barred; (2) that it was unclear if there had been an acknowledgment of the debt within the limitation period; (3) that there was a substantial dispute as to whether the judgment debt had been satisfied; (4) that the company was solvent; and (5) whether it was appropriate to grant an injunction.
COMMODITIES CASE UPDATE JULY 2023 HFW COMMODITIES CASE UPDATE JULY 2023 We are delighted to present the July 2023 edition of the Commodities Case Update, with a summary of 12 key recent cases relevant to the commodities sector. With a market leading commodities team, we have over 100 lawyers who provide a full service internationally. The group is led by a team of over 25 partners, who are based in all our offices around the world, including in the major trading hubs of London, Paris, Geneva, Dubai, Singapore, Hong Kong and Sydney.
When a customer is made bankrupt, whose knowledge is relevant to start time running under the extra three-year time bar rules in DISP 2.8.2R(2)(b)?
ICC Judge Barber’s judgment in the case of Purkiss v Kennedy & ors (Re Ethos Solutions Ltd) [2022] EWHC 3098 (Ch) deals with a complex and late application for joinder and to re-amend proceedings. It was handed down following a four day hearing and weighs in at over 200 paragraphs, facts indicative of the unusual nature of the application.
Nicola Sharp of Rahman Ravelli considers a case that shows the courts’ reluctance to expand the jurisdiction of equity to award compound interest in common law claims.
Welcome to the eighth edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.